The Golden Rules to Building A New Home: Part 2 Selecting Your Land
Wed, 23 Nov 2011
As they say in real estate, Location, Location, Location! When trying to maximise your investment in property, land is king. Additionally, being happy with the location of your new home is equally important. And of course, it must fit into your budget!
There is a great variance in land prices depending on where you purchase. By having your land budget identified; this will assist with what options are available to you.
In the instance, where one option is cheaper than another (but both fit into your budget) investigate why this is the case and check for the following:
- Local Infrastructure such as schools, shops and transport – are these readily available?
- Local Services such as restaurants, dentists, doctor, health centres and play groups for mums
- Is the land connected to town water, electricity and also have access to internet services?
- Are there footpaths and parks nearby?
- Checked with the land developer whether the land has any encumbrances, easements, proposed resumptions, or restrictive covenants? These appear on the certificate of title and are your responsibility to understand these before signing a land contract. It is also your responsibility to show all these restrictions to your builder so he can cost your job appropriately and advise you on the cost impact.
- Checked with your local authority regarding any future subdivisions or road changes in the area. Also check to see that there are no special building conditions or covenants that apply to the land you are planning to purchase
- What your local rates are
- Will the land accommodate the size house you wish to build and consider the
Finally, when selecting land, think about how your home will be positioned on the block in relation to morning and afternoon sun. Read our articles on Passive Design to assist.
Regardless of what type of block, you will be able to select a house design that provides a good fit for the block and a good outcome for you.
