Things to Know When Purchasing Land

Things to Know When Purchasing Land

Things to Know When Purchasing Land

If you want to build your home from the ground up instead of buying an established one, buying land is the first step. Making sure that you bought the right parcel of land for your home is crucial, since it’s the literal foundation of your future home. It might be overwhelming, but don’t worry - we’re here to walk you through the 5 essential things about buying land.

 First Things First

You might ask: why not just buy an existing home? Why go through buying land AND building a house? Here are some of its advantages:

• Choosing the right area and land might boost the value of your home over time.

• The amount of money you need to borrow is staggered by stages of completion. These stages are usually: purchase of land, floor, roof, and the final completion of the house. You will only draw money for each stage instead one big amount.

• You are eligible for more government grants.

 5 Things You Need To Know

1. Location

Who won’t want to live in Cairns? Proximity to pristine beaches, the mountains, and a robust community - what’s not to like? But here are more factors you need to consider:

• Accessibility - Is the area near to important amenities such as schools, hospitals, public transport, stores, and the like? If the area is newly developed, when will they be available? Are there clear roads in and out of the area?

• Neighbouring properties  - If the land you’re looking at already has neighbours, don’t be shy to ask them about how life is in the area. Aside from that, don’t forget to ask about any future developments (apartments and the like) or building proposals, as it might change your plans.

• Utility - Take note of the availability of services like gas, power, water, internet, and sewage to the plot. Are they already in place? If not, figure out how much their installation will cost.

2. Legalities

Consider all of the legal obligations that come with purchasing a parcel of land. It’s important to know the following legalities before deciding on the land you will buy:

• Zoning - This will tell you what types of construction are allowed in an area. This is important to check because it might change the general character of the area in the future. 

• Building Approval - You will need to get a building/development approval from the council before you can build.

• Easements - These are parts of the land where you can and cannot build on. This is so third parties such as water or power providers can access your land.

• Covenants - These are restrictions on the types of materials you can use. This can also mean restrictions on how you can develop the land.

3. Lay of the Land

Now we get to the land itself. Here are some factors you need to check:

• Size - See if the land can accommodate the vision you have for your property - yard, garage, and the works.

• Slope - There might be an incline to the block. This will make building difficult and more costly - leveling it can add a lot to the building costs.

• Orientation - It’s important you know the orientation of the land. This will ensure a more energy-efficient house - saving you money and helping the planet in the long run.

• Soil Type - Have the soil in the block tested. These tests will determine the stability and retention of the soil. In short, if the block’s safe to build a house on

4. Safety

Check the crime rates in the area. Aside from that, you should check how the area will do in case of natural disasters. Cairns is no stranger to wildfires and monsoons. It’s imperative that you know if the area is in a high fire zone or prone to floods. Check if it’s nearby major fault lines, too, in case of earthquakes. It’s better to know than be blindsided!

5. Your Dream Home

Of course, you need to think of the home you want to build before you put your money on a piece of land. Your home should cater your needs and your lifestyle, and the land it will be built on is a crucial part of that.

Want To Buy Land in Cairns?

Experience life in the Far North and buy land in Cairns. Whether you want a home by the beach, estates in the CBD, somewhere near the rainforests, you can have it. If you want to build your dream home near Dunk Island, Wonga Beach, and Redlynch Valley, you can do that, too! 

 

The land you will buy is not only the foundation of your home, but also of your future. It’s just right that you do your research so you will have the perfect one for your home. If you have any more questions or you want to know more about the blocks of land above, don’t hesitate to contact us!

 

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