I am interested in buying land to build a residential property on. How do I know if the land is good and won’t cost me a lot of money in the future? What should I be looking for?
Welcome to the community! Thank you for your post!
There are a few important steps when it comes to buying land and building a home on it. @nat11 from buildinoz might be able to assist about the specifics but in my experience you should think about the following things before buying land:
- Potential site costs associated with the build (is the block sloping? What overlays are present, easements? Type and density of soil etc.)
- Pre-Approval Amount - This will give you a good guide as to the amount you can spend on the land and the home
- Volume or Custom builders
- Construction loan vs Home loan
- Estate Development plan
- land broker
I found buildinoz.com.au really helpful when I was looking at building. It explains all the above and more definitely worth a view
Please click here to access our Land Buyers Checklist. It will help you identify what you need to look out for when buying land. If you’d like to dig a little deeper to be sure you know what questions to ask please visit https://buildinoz.com.au/home-build-in-a-box/. Step 3 equips you with everything you need to know about safely buying a block of land.
Feel free to reach out if I can be of any further assistance.