Purchasing land is an appealing option for those looking to build their dream home. Before purchasing, this is what you need to know.
Purchasing a block of land comes with just as many considerations as buying a new home. Thorough research will ensure you are purchasing the right block of land for your needs while also avoiding costly surprises along the way. Wherever you purchase, no two blocks are ever quite alike, with each presenting its own set of challenges. Before taking the plunge, these are the factors you need to research thoroughly before you purchase land.
An important step is to conduct comprehensive research into the zoning regulations for the land and surrounding area. Depending on the specific area and high-risk factors associated, it can seriously impact your ability to obtain finance for the project. It is essential to contact the local council for the zoning restrictions as each council has different rules regarding what the block of land can be used for. Zoning applies to residential, commercial, and industrial developments.
Does the block of land have access to utilities, including water, gas, and electricity? The NSW Government’s BASIX certificate provides detailed guidelines for those wishing to build or renovate on land.
Terrain and soil quality
It is important to note the terrain on the block of land and anticipate the costs involved before construction begins. If it is a steep block of land, excavating and levelling can be costly. The same applies to removing trees and rocks
Conducting a soil test will also ensure you purchase a high-quality block of land with no hidden nasties. The test will look at the soil’s physical and chemical characteristics to determine if it is safe and stable enough to build on. The higher soil composition will also minimise the cost of building a sturdy foundation.
Orientation, size, and shape
Pay attention to the orientation of the block and figure out how the property can optimise natural elements. For example, a northfacing home will ensure the house receives substantial natural light and warmth while also protecting it from the excessive summer heat. If a goal of yours is to minimize your cost on bills, paying close attention to the orientation of the property will help immensely.
For more information and advice on what to look out for when purchasing land, reach out to Carolyn Wheatley; Belle Property’s local rural sales agent for more advice – 0407 120 483 or [email protected]