You made it!
High five for completing Module three!
You now know the things you need to consider that can affect your overall costs when buying land.
Plus, by having taken this module your far less likely to be hit with any nasty surprises that will cause you to blow your budget or make a bad investment.
You're now also fully informed about any site issues that could potentially cause you problems once you start to build.
Land Buying Checklist
Learn about land conveyancing.
Understand what a land buyers advocate is.
Know the pros and cons of buying land off-the-plan.
Know how to truly compare different blocks.
Know how to read a plan of subdivision.
Know where to access the development plan if buying in a new estate.
Understand covenants, easements and connected services.
Understand site costs and soil types.
Understand orientation considerations.
I know how to identify a good area to build.
I know how to avoid hidden site costs.
I know how to negotiate my sale.
I know how to buy a block that holds equity
the essentials - in order
Things to do when buying land.
- Have you chosen a legal conveyancer? You need to do this now.
- If available in your area and you feel you could benefit from the service, consider engaging a land buying advocate to conduct your due diligence and handle negotiations.
- If looking at buying land off-the-plan consider if this is a suitable option for you.
- Compare blocks of land or estates using the land comparison chart.
- Read the plan of subdivision to know if an easement will affect you or not.
- Ask to see a copy of the structure plan/development plan.
- Make sure all services are connected and if they aren't, get quotes to connect them prior to purchase.
- Ask for a list of any covenants that exist within the subdivision.
- Have a site level specialist (civil contractor) estimate your site levelling costs.
- Before getting quotes from builders consider investing in your own soil test so that you can get more accurate quotes.
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