Buying land is a major life decisions and is one which should not be taken lightly. The land you buy now will likely be the future location of your dream home and the place where you live and possibly raise a family so it’s important you make sure that land you buy is of good quality, in a good location and that it gives you its value for money.
These are the three things which you need to consider before you make any final decision or sign any contract.
Not all land is made the same. You may see a block of land and think it is ideal for building a home on however your architect may disagree. Some blocks of land are uneven, rocky or unstable. These types of blocks of land will need significant work before you can start building and will cost you potentially thousands of dollars before they are in a state where they can be built upon. If you don’t know much about land is really important that you take someone who does know about it with you.
Don’t trust the real estate agent because they will do anything to make a sale and will not tell you about the land issues. Problematic land shouldn’t put you off buying it entirely but it should give you pause the thought. Sometimes you can get a great deal on land if it isn’t in an ideal condition but make sure what you will have to spend is less than what you are saving on the purchase cost if you do decide to buy land which needs work.
Location is probably the most important thing you need to consider when buying land. The old adage about buying a house which is the three things that matter are location site holds true for purchasing land as well. Consider things like how far away is this land from shops and public transport? Will you need to drive to the nearest restaurant district or will you be able to walk?
Couples should also consider questions which they will face in the future such as how far away are the local schools and how safe is the area for children. Even though these are questions which are relevant now they may become relevant in the future. When purchasing land always think ahead or you may find you end up regretting your purchase later on.
It’s really important that you get independent advice from a real estate agent about how much the land is actually worth. Valuing land can be quite difficult and many real estate agents will deliberately over price land because they know people don’t really understand how land is valued. Make sure you don’t get ripped off and pay more than you should for a block of land.
A good way to check whether or not you are getting value for money is to look at other similar blocks and see how much they cost. If they are cheaper don’t be afraid to ask the real estate agent why they are cheaper and if they cannot give a good explanation than either attempt to haggle down the price or simply walk away.
If you consider these three things; the quality, location and value of the land then you will hopefully make the right decision and purchase land which you can enjoy for years to come.
Sam has written this informative article for The Hunt Club which is a premier residential development in Victoria. If you are looking at land for sale in Melbourne than hunt club is your best bet.