Building your dream home is an exciting venture, but before you start, it’s essential to find the right plot of land. While all plots may seem similar at first glance, there are hidden obstacles that could hinder your house build. To help you make an informed decision, we’ve compiled a list of eight factors to consider when buying a plot of land.
The location of your block of land is crucial. Consider the nearby amenities that will make your life easier, such as schools, shops, restaurants/cafes, medical facilities, public transport, parks, access to highways, etc. If you’re planning on selling or renting out the property, access to these amenities could make your house more appealing to buyers or tenants.
2. Size and shape
Your block will have to accommodate the house you’re planning on building. Allotments come in a variety of shapes and sizes, and each type of block will present its own unique challenges when it comes to designing your home. It’s up to you to find one that will fit exactly what you’re after.
Paying attention to the orientation of the block of land you buy literally pays off. Using the north-facing aspect allows your home to use the sun all year round without enduring direct sunlight, which can lead to overheating and discolouration on certain materials.
A sloping block with a view of the CBD may be difficult to resist. Yet, more expensive in the long run. If a block has too much fall, it’s likely you’ll need to pay a lot more in site costs in order to get the land level prepped for construction.
It’s important to check the ‘land title’ to see if there are any easements or covenants affecting the land that will place restrictions on which areas of the land can be built on and any specific building and design requirements for the home.
6. Council restrictions/estate guidelines
Different councils can have different rules, which can limit what you build and how you build it. Each local government can have its own requirements relating to home size, setbacks, offsets and appropriate building materials, among many other things.
An excellent investment you should make is to have a soil test administered on your block. This is necessary as a block with an unwanted soil class can be very costly to stabilise.
Can your land be connected to all of the utilities that you’ll require? Is the water, gas, electricity, internet, storm water, and sewage already pre-laid?
In conclusion, finding the right plot of land can make all the difference in construction and maintenance costs. It’s important to ask all the right questions to avoid potential future headaches. While it may seem overwhelming at first, taking the time to consider these eight factors will ensure that you make an informed decision and find the perfect plot of land for your dream home.
The information provided is general information only and has been prepared without regard to your objectives, financial situation or needs. We recommend that you consider whether it is suitable for your situation. Before accepting any offer or offering, your full financial situation needs to be reviewed. This article does not constitute legal, tax or financial advice and you should always seek professional advice based on your individual circumstances. Fees and charges and eligibility criteria apply, subject to the lender’s terms and conditions.