The Essential Land Buyer’s Checklist
Buying land is an incredibly exciting experience, one which brings with it an array of conflicting emotions. If you’re buying land for the first time, you may be feeling proud, anxious and confused all at once. This is totally normal: buying land is one of the biggest decisions we face in life! In this guide, we’ll take you through a step-by-step checklist for buying land in Victoria, including reading the property market, navigating government and developer requirements, and choosing the right block for your prospective home. After that, we’ll show you why Eynesbury is one of the best places you can buy a block of land in Melbourne today.
What to Consider When Buying a Block of Land
There is a lot to keep in mind when buying a block of land. Where and when to buy are two of the most immediate considerations, but other factors like developer restrictions, government regulations and the land & housing markets are also important. As a general rule, allowing yourself more time when buying land will allow you to make the most informed decision possible. It will also significantly de-stress your experience, so you can spend more time focusing on the enjoyable parts of your search.
When it comes to buying a block of land, few considerations are more crucial than location. Location will affect how far you have to travel to get to daily destinations; it will affect who you interact with, how you shop, and where you spend your recreational time. All of these factors will also affect the value of the property. The more convenient, enjoyable and popular a residential area is, the more valuable it will be. So, by buying in a residential area that is expected to grow in popularity, you’ll also be investing in your bank account down the track.
As with all things, guidelines and regulations will affect your land-buying decision. For instance, laws affect how long you have to start building after buying land (for example, Eynesbury has a 12 month time frame for construction to commence). You might also be wondering what house you can fit on your block or how big a block of land has to be for a house. While there are very few government regulations on the height, size and style of the home you are looking to build, your developer may have additional guidelines. These guidelines will ensure that the street appeal is protected for years to come, ultimately providing you with confidence that the location you fall in love with will remain for years to come.
Understanding the Climate & Environment
The site and physical environment surrounding your property is another highly important factor to consider. On your block of land, the slope, incline and orientation of your property are things you may like to consider. This is because they will determine the quantity of light you get, whether you can grow vegetables, and how easy it will be for builders to lay foundations and ensure the structural stability of your house. Identify the prevalence of vegetation, trees, bushland, easements and power lines around your property, and check with your local council to see if these constitute any hazards or barriers to building on your land. You can have your land surveyed and environmentally tested to be sure. Research the local climate-based factors, like annual rainfall, temperatures, and susceptibility to fire and flooding to ensure you understand any risks involved with living in a particular area.
Changes to a neighbourhood can have a big impact on your lifestyle within it. Nearby infrastructural changes and developments around a property can have an impact on initial investment. Council or shire rezoning can also drastically change the requirements put on your home for building. It’s important to be wary of these potential changes in advance of your investment. You can analyse these trends by researching the area’s real estate developer and its local council, whether through online searches of their website or calling representatives directly.
A Few Helpful Tips
There are a few more small, helpful tips and tricks that you might like to consider before buying land;
Review Your Finances
Before you buy, make sure you have the appropriate finances to fund your prospective purchase. While buying land is a good investment, it’s always best to make sure you have the capital to apply for a loan successfully and to repay your debts on time. Having these aspects of your life in order before you meet with banks and property developers will make every step of your journey far more straightforward. Ensure you budget not only for the plot of land you’re buying, but also the home you are planning to build on it.
Choosing the right builder
Once you’ve bought a good sized block of land to suit your needs, you’ll need to find a builder to build your home on it. There are three primary factors to keep in mind here: firstly, your budget; secondly, the style of house you are looking to buy; finally, the reputation of the builder. Builder reputation includes their quality of work, how on-time they are to complete work and what they are like as people to work with. These reputational assessments might come through word of mouth or online reviews. Credit references are a good way to check whether your builder is likely to have your job done on time.
Visit Eynesbury today
Buying land can be a daunting experience, but with Eynesbury, it doesn’t have to be. Eynesbury is Melbourne’s next up-and-coming residential area. Nestled in between the bustling urban hubs of Melton and Werribee, Eynesbury is quickly becoming one of the city’s most popular destinations. The location is a dream location for young families, in large part due to its close proximity to some of the state’s best early-years, primary and secondary schools. Explore the buyable land for sale at Eynesbury, and get in touch with one of our sales agents if you’d like to arrange an in-person visit. Kickstart your new life and buy your first block of land today!