Choosing the right block of land in the right location is absolutely essential to ensuring the experience of living in (or investing in) your brand new home is an enjoyable one. Some of the main items that should be considered are:
Location of the Land
If you are going to live in your home, ask yourself the following questions:
- Is it close to where you work?
- If your child has a part-time job is it close to this?
- Is it close to you children’s school – there is a charge if for the bus if it isn’t going to the closest school to your home.
- Is it close to yours & your children’s sporting activities?
If you are building an investment home, consider the following:
- How many similar properties are currently on the market in the area?
- What is the average rental return on properties in the area?
- It is important to invest in a property with high rental yields and low vacancy rates
- And of course, is it an area where the home will increase in value the most?
The cost of land will vary substantially depending on:
- The size of the home site
- The proximity of the estate to the CBD
- The facilities available in your estate
- Bonus features of the home site such as no rear neighbours, park frontage etc.
Make sure you still have enough to build the home you want after you buy the land.
Too often, people buy “the perfect home-site” only to discover they are unable to build a house on it to suit their lifestyle. It is always good to work with your trusted builder before finalising your land purchase, and it helps to write a list of what is important to you to and what you are willing to pay extra for.
When building on acreage, there are a number of extra costs over and above normal urban home-sites, such as:
- you will require an on-site sewerage treatment system installed
- there may be additional costs to run water and electricity a longer distance from the street to your home
- vehicle access to ensure good all weather access
- additional fencing
- some acreage lots also have specific block frontage requirements in their covenants
Be careful when looking at purchasing sloping land sites. Often these blocks are cheap but they require substantial earthworks to transform the site into one that can be built on.
As we can’t see below the surface of the block of land, it is easy to find nasty surprises during the building process which can result in substantial cost blowouts of tens of thousands of dollars. This often leads to disappointment and unnecessary stress for the client and it is for this reason that Grady Homes choose not to build on sloping home-sites.
Do Your Research
- Where does the sun rise and set in summer and winter?
- Which way do the summer and the winter breezes blow?
- Is there an adjoining feature you would like to see from your home, like a park, a mountain, natural bushland or the beach.
Most developers set up rules on what can and can’t be built on the land they sell, these are called covenants. Read more about how covenants affect where and how you build your new home.
Building Setbacks and Sewer Line
These items are as important as the actual size of the land itself and can very easily stop you from building the home you want on the land you bought. They can especially impact on the ability to build sheds and pools, now or in the future.
Will you be able to build a home to suit your lifestyle:
- Pets. If want to have a big dog, a 300sqm block may not be suitable for your furry friend.
- Where do you like to have your breakfast, or your dinner?
- How much space do you need for your hobbies?
- Is a shed important and if so, what size?
- Swimming Pool – Is this something you might want now or in the future?
Who will live in the home (now and in the future)?
This can affect more than just how many bedrooms you need, such as, how many cars will be parking at your place, now and in the future. For example, when will your teenagers be driving their own cars? Will your parents need you to look after their car while they go on extended holidays?
If you plan on starting a family, will your home be close to the facilities you want for your child/children as they grow up.
Will it Suit Your Future Needs?
- Perhaps the future plans involve a boat or caravan – will your home-site allow access to park these safely out the back of the block?
- Do you want to add a shed? The location of the sewer line can affect this and at times even prevent you from being able to have the shed.
- Will the land orientation block breezes to your home?
- You may want to ensure there is an electrical connection point to provide electricity to the shed (or future shed)
- Do you want to add a Granny Flat or build a Duplex? Duplexes & Granny Flats require very specific features on the block and few home-sites are set up for this. You will also need to get zoning approval from the council. At Grady Homes we have access to professionals who can assist in the process of obtaining all necessary approvals if this is something you require on your block of land.
Do the estate’s facilities match your lifestyle?
You may want:
- Big parks
- Running tracks
- Close to beach
- Close to the river
- Close to the CBD
- Close to shops etc.
When Will Your Land Be Ready?
Developers usually allow prospective buyers the chance to purchase land before it is ready to build on. This ability to get your hands on land early is fantastic but you also need to keep in mind that at times there can be lengthy delays to the land being ready to build on.
If it is important to you that you are in your home by a certain time, this is something that needs to be considered as it affects furniture in storage, rental agreements etc.