For many Australians, the first step on the road to homeownership is to buy a block of land. But with so much to consider – from budget and location to town planning regulations – it’s no wonder many of us feel daunted by the process.
Never fear; we’re here to help! This comprehensive guide will outline everything you need to know about buying a block of land in Australia. We’ll cover everything from finding the right block for you to securing finance and navigating the legal landscape.
So whether you’re a first-time buyer or an experienced investor, read on for all the information you need when buying cheap Australian land for sale.
Related articles:
- Beyond the Deposit: Preparing For the Costs of Owning Your First Home
- How To Save For a Home Deposit
- Home Buying Tips for Every Age
Location of the block
The first thing you need to consider when buying a block of land is its location. Research the surrounding area thoroughly – is it close to public transport and amenities? What is the crime rate like? Are there any proposed developments in the pipeline that could affect your property’s value?
It’s also worth considering whether you want a rural or urban block. Rural land can be cheaper, but it may be further away from essential services.
Next, think about how close the property is to shops, schools, parks, hospitals, and public transportation. If you decide to sell the land, these features will ensure that your investment will yield higher returns in the long run.
Legal considerations
When buying a block of land, it’s essential to be aware of the various legal considerations. For example, you’ll need to get a survey done to make sure the block is in the correct location or not. It is also crucial to have a good grasp of your state’s property laws.
For instance, in some states, you can only buy land to build on it, while in others, you can purchase land and hold onto it as an investment.
Furthermore, several blocks have regulations that prohibit the use of particular building materials. Having the knowledge about these constraints before you buy will allow you to tailor your plans to fit your budget.
Take the orientation of the block into account
Another important consideration when choosing a block of land is the aspect. This refers to the block’s direction and can significantly impact things like temperature, sunlight, and wind.
Some blocks are oriented north-south, while others are east-west. Both orientations have benefits and drawbacks, so it’s essential to choose the one that best suits your needs.
If you’re planning to build a house on your block, north-south orientation will allow you to make the most of the winter sun. This is because the sun will hit the front of your house in winter and the back of your home in summer.
On the other hand, East-West blocks are ideal for those who want to make the most of natural breezes.
What is the Shape and Size of the Land?
When looking for a block of land, it’s important to consider the shape and size of the block. The shape and size of the block will affect both the price and the ease of development. For example, triangular blocks can be more expensive because they are harder to develop, while L-shaped blocks may be cheaper because they offer more flexibility.
The larger the block area, the more expensive it will be. But remember, you don’t necessarily need a large block to build your dream home. With clever design, you can make the most of a smaller block.
So when considering the shape and size of a block of land, think about what you want to use the land for and how easy it will be to develop.
What does the Slope and Soil of the Block Look Like?
When you buy a block of land, it’s vital to consider the soil and slope. Soil that is too sandy or rocky may be challenging to build on, and a steep incline could make development difficult.
It is also vital to get a soil test done before you buy a block of land, as this will give you an idea of the quality of the soil. If the soil is not up to standard, you may be able to negotiate a lower price for the land.
The slope of the land can also affect the development potential of the block. A steep slope may make it difficult to build on, while a flat block will be much easier to develop.
Consider the Future Possibilities
If you’re planning to buy a block of land for investment purposes, it’s important to consider how the area may change. If there are plans for new development in the area, then the value of the land may increase. However, if the population is decreasing, then the value of the land may decrease.
Secondly, if you are buying the land to build a home, you should consider the questions like, is there a new development planned for the area? Is the population increasing or decreasing?
Keep an Eye on the Neighbourhood
Neighbourhood plays a crucial role if you buy a piece of land and plan to live there. It will help to think about questions like how safe the area is, what the neighbours are like, etc.
If you’re looking for a quiet, peaceful setting, you’ll need to buy a block in an area that meets your criteria. However, if you don’t mind living in a more lively place, you may be able to find a cheaper block of land.
Haven’t found your dream home yet?
We can also help you out in that department.
Browse our search page to check out some amazing listings available right now. But don’t just stop there, download our app to get the full Soho experience. Just remember to shortlist or swipe left on our listings so we can send you others that better match what you’re looking for.
