Want to buy land?
If you are interested in purchasing land there are a few things to consider before you make the purchase.
Whether you are looking for land to build your dream house on or perhaps looking for commercial or agricultural land, you should always do in-depth research before making your final decision.
Here are some of the general considerations:
Location
Location, location and location. In any area of real estate, the location is one of the most vital parts. Always look for the best areas to purchase in. Keep an eye out for schools, shops and future infrastructure developments. It is much easier to change your house than to change the location it is in. The location is certainly one of the most important aspects of the investment. Try to avoid flood zones and bushfire areas.
Check the zoning
The zoning defines the type of development allowed on the property. For example; if you want to build a house on your plot, you need to make sure the plot is zoned correctly. Certain areas may be zoned differently for things such as build heights. Cities will have buildings with multiple storeys while rural areas may only be allowed 2 or 3 storey dwellings.
Terrain
The soil and surrounding terrain of the land you are looking at is another thing to keep in mind. Whatever you are looking to do with your land the terrain can affect a lot. If you want to build and the plot is filled with trees, getting rid of them comes at an additional cost.
Does it have utilities
Make sure that the land has the required utilities available. Water, power, gas internet and sewage will eventually be needed so if they aren’t available initially there will be additional costs at some point, which should be considered before purchasing.
Shape
The shape of the property can determine what can and can’t be built. This can result in you having to change plans and potentially cause additional costs. Square/rectangular shaped lots seem to be appealing, so if you are looking for an investment or think you might sell in the future take this into account.
Road access
Rural land may have no or very low-quality access to major roads. This obviously is more of a risk and will require you to have the necessary means of getting to the property.
