Home:Land Buying Tips

LAND BUYING TIPS

Land buying tips has been included here to give you some guidance and the steps to take for those buying land and building their own home in Perth. Building your own home is a popular in choice for home buyers in Perth, a concept I was unfamiliar with until we moved here.

In the UK you could buy a new home but you would normally buy a property being built by the developers and only get a choice on the fixtures and fittings you wanted, you dont get to choose the builder and design of home.  So to go shopping for the house you wanted and put it on the block of land you wanted was just great, I just loved going round the show homes (still do if I have the time).

BUY LAND AND BUILD v BUYING AN ESTABLISHED HOME

This will depend on where you are looking at living and the the type of home you want to build.  Land in the Perth suburbs (especially the ones closer to the City, beach or river ) can be very expensive as there is not that much available and the locations are a premium.  So if you are looking for a home in a suburb close to the city buying an established home may be the only affordable option.

However, if you are looking to live further out of the City there are many new housing developments all over the Perth metro.  Many new migrants build in the outer suburbs as blocks of land are more affordable so you can buy land and build a home from around $350,000 possibly a little less.

 

REMEMBER TO DO YOUR HOMEWORK

Don't just go and buy the first block of land you see, especially if it is out in the country or a private sale that is not part of a development. 

You don't want to be in the position of not being able to afford to buid your home. There are a number of hidden costs when buying a block of land and building a home so do your research first.

BUYING ACERAGE LAND IN A REMOTE AREA

Buying a large block of land out the back of beyond may appear to be an opportunity not to be missed.  You will get a lot more land for your dollar and the lifestyle you have been dreaming of.  Just be sure to know what you are letting yourself in for.  The reality of it all may not be as fantastic as you expected.

If you are buying land in a remote location you also need to consider :-

  • How much site works are likley to cost, they could easily cost more than the home you are building.
  • What conveniences are available, how far do you have to go to do your shopping, visit the Dr, Dentist, how far is the nearest hospital etc...
  • Utilities aren't always available or if they are may not be reliable.
  • Do you have community water supply, you may need to dig down to get your water
  • A generator for power
  • What sewerage disposal facilities are available for all your waste do you need a septic tank installed.
  • Is the land in an area that is a high risk for bush fires or flooding making maintenance costs much higher. 
  • Cost if the build will be higher becasue building materials are likley to be shiped from Perth
  • Wages are likley to be higher so tradesmen will cost more
  • Obtaining a home loan (lenders have restrictions on lending postcodes and zoning of land)
  • Access - are you re sponsible for the upkeep if the road to access the block (if it is a private road this could very well be the case - restrictive covenants)

     

BUYING A BLOCK AND BUILDING A HOME IN A NEW LAND DEVELOPMENT

There are many benefits to buying land and building in a development, such as:-

  • Land is prepared ready for the build so site work costs are minimum
  • Utilities will be planned within the development so you should have access to all utilities.
  • New developments are planned to be ozone friendly
  • Fencing often included in the package
  • Landscaping often included in the package

When buying in a develpment there are often terms and conditions you have to agree to when purchaing the block.

  • There may be a time frame you have in which to build. 
  • Design guidelines are often required to be met within a development, this can vary between developments and even stages within a development.
  • Some contracts of sale will prevent you fomr selling on your land without the developers concent.  This is in place to stop speculators buying the land and selling on at a profit.

 

 

 

 

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Land Buying Tips: Land Developers | New Home Builders | Buying from Overseas

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