Land is a valuable possession. Every potential homeowner wants to buy land and build a home in a prime location. However, it’s not something easy to do, especially if you’re a first-time land buyer.
There are certain factors you need to consider before buying land. Our land experts will take you through the items you must check before spending your hard-earned money.
1. The Type of Soil
Different lands may comprise of different types of soil. Some lands have reactive soil, whose moisture content keeps changing. In this case, slabs should have piers to assist in stabilizing and protecting a house from buckling or sinking. Piers are made of concrete.
The concrete is poured beneath the slab. However, installing piers is often expensive. The price can be higher if you’re installing many piers several feet deep. Unfortunately, it’s hard to determine the exact soil type until you get a complete soil report after having the land titled.
Our land consultants and home builders have assisted hundreds of people to get their dream homes across Sydney. Thus, we know the areas that have favorable soil types for building homes and those that are problematic. You can make the entire process easier by choosing a house & land package. In this package, you’ll get a land and home construction all in one package but under two contracts.
The best land to build a home is a flat one. While a land sitting on a cliff from the side would give you amazing views, it’ll be pricey to build a home on it.
Thus, when purchasing your first piece of land to build a home, consider one with a slope not exceeding a meter. In this case, regular builders will easily build on the land. Otherwise, you’ll have to involve an architect and this will cost you more.
You can check with your sales representative for details about the slope to know whether it’s suitable for building your home easily. We can assist you to calculate the slope based on the Engineering documentation containing finished levels. You can get this documentation from the sales representative.
3. Size of the Land
The shape and size of the land will largely determine the kind of house you’ll build on it. Thus, it’s an important consideration to make. Ask yourself whether you prefer a big backyard or garden, or you want a smaller garden for easier maintenance and lower footprint. Also, if the land is close to a pack, the size of the backyard be affected.
Also, if you want to have a large double garage, you’ll require a frontage width of at least 12.5m. Upon getting your desired house design, make sure you check its slope, depth, and width to determine whether it’s suitable for the home design in terms of the dimensions. Also, check the easements, setback requirements, or any other conditions that’ll limit the positioning of your house on the land.
4. Estate Guidelines/Developer Covenants
If you’re wondering why some estates look great, it’s because of estate guidelines, also referred to as developer covenants. When establishing new communities, estate developers create rules that every home within the estate should adhere to.
The rules include specific colors that shouldn’t be used on properties in the estate, rules on recycled water, or the maximum number of stories among other specifications. The rules are set to ensure there’s control over the kind of structure that can be put up in an estate.
The guidelines may differ depending on the land developer or estate. For instance, some guidelines require every house built along the street to have a garage door resembles wood. Other guidelines may dictate that you should only build a façade based on one specific design.
Estate guidelines must be met. They may have an impact on the cost of the home you’ll build, especially if your preferred design doesn’t comply with the existing guidelines.
5. Level of Bushfire Attack
Government regulations ensure that every piece of land in the country has a classification for the level of bushfire attack. This classification measures the level of exposure to a bushfire. The severity levels are six in total, all with different costs.
You can confirm the rating of your land from your land consultant. Also, your builder should advise you about the associated costs of building your home to conform to the classification level.
It’s worth noting that the classification may change when government regulations change. The land developer doesn’t have control over any changes to the regulations.
6. Untitled or Titled
Untitled land refers to land that’s purchased off-plan. In this case, you’ll pay a deposit to the land developer after signing a contract, but you won’t own the piece of land fully until you get the title certificated issues under your name.
Essentially, land in newly created estates is untitled since the land is sold before the start of construction. In case the land you want to buy is untitled, ensure you get an estimated date of getting the title. However, the date may change. On the other hand, titled land is a land where you can build a property after the transfer of ownership.
Amount of Deposit Required
Generally, you’re required to pay a deposit of 5 to 10 percent when buying land. You’ll only pay the balance after the new title gets registered. Ensure to ask the land consultant when the title is likely to be ready.
Your mortgage broker or bank understands the process involved and should guide you on deposit payment and finalizing the payment. A reputable mortgage broker or bank should organize pre-approval to save your time.
Ready to Purchase your First-ever Home?
If you’re planning to invest in a house & land package, or you want to build your first home on a newly acquired land, you can rely on our home building experts in Sydney for professional assistance. Feel free to contact us today for further details.