One major benefit of building a new home, is that you have the flexibility to choose your home design, colour scheme and the location. During your search for land, there are a number of things you should consider.
1. Know your budget
First things first, find out your borrowing capacity and set a budget. Your bank or mortgage broker can help you with this. Once you have this, you can set a budget aside for your land, and your home build. We can provide you with a free assessment to give you an idea of your borrowing capacity and a suitable land budget for your location.
2. Explore regions
Once you have an idea of your price range, you can search on websites such as realestate.com.au or domain.com.au to see what land options are available within or nearby to your preferred location.If there's a particular housing estate that you're interested in, you can explore their website or contact the developer to find out what land is available. Remember to have allow some flexibility with location, as it may allow you to find a more affordable option.
3. Land features
Ideally, a block of land that is flat, rectangular and free from obstructions such as rocks and trees is ideal for the builder. These type of blocks can have less site costs and allow for a wider range of home designs.
Most land estates will prepare the land so it's suitable for building on, and has sewer and water connections. If the block is sloping it may require a retaining wall or custom home design - this could impact the build price and site costs.
4. Easements or restrictions
Find out if there's any easements over your block. Mains services are the most common easement, and this may restrict your build area to the point that you can’t get the size of home on the block that you want.
If buying land in a new estate, find out what restrictions the developer may have included on the block. These rules might be in addition to the council conditions and may limit the height, style and exterior finishes of your home.
5. Future planning
Get to know the location and any future developments that may impact your lifestyle. Consider proposed road upgrades, nearby projects, rezoning etc. These things may impact your enjoyment or even the value of your home in the future.If you’ve found the block with the best views and fallen in love with it, be extra careful that those views are yours forever. There's nothing worse than having that great view blocked later down the track!
6. Secure your land
In some areas, land demand is very high so you may need to be quick to secure your block. Contact the agent to check availability and secure your block. Generally, you will need to pay a small refundable deposit to reserve your block.Ask the agent to send you the information that the builder will require to site your house on your land. This includes contour plans, disclosure plan, design guidelines and any other relevant supporting information.
Get started!
We can help you to find suitable land, or determine if a block your selected is suitable for our builders. With Build Assist, we're providing our $10,000 deposit boost plus+ $5,000 in rental assistance on select house and land packages!
