Obviously, buying a land is different from purchasing a house, but with the former, you would deal with a vacant lot for your future house or business. The land you will choose has an effect on building expenses and home features.
The government recommends that it is crucial to consider several factors before signing any agreement with your broker.
First, you must know your intentions. Are you going to build a house or a commercial establishment? Research about plans on the vicinity of your lot. Better yet, consult the local government unit that takes charge of your area because there may soon be some construction projects that could bother you and your family.
Get a copy of the homeowners’ rules as well to understand land use rights. An example is if you can use water from the nearby stream, or if you can construct an outhouse.
Road Access and Public Utilities
It is common sense that without road access, your property is a futile investment. Even if a neighbour agrees to share his right of way, you would be at a disadvantage when you get into a feud later on. To avoid this, make sure you have transferable access rights in your deed of sale for the benefit of future inheritors.
You should also check the availability of electric facilities and drainage systems. Most land for sale in Taylors Hill, Victoria have the basic needs in place.
Mineral and Timber Ownership
Be definite that your deed will have mineral and timber control provisions. Otherwise, authorities will take over your property once prospectors discover valuable resources on your property, and you will receive only a measly sum. Similarly, when your timber contract expires, most of the wood in your property will be taken away, leaving you with a disorganised estate.
Landscape and Flood-Prone Location
The location of your land is very important. Be familiar with your area. Watch out for high altitude places and its surroundings. Likewise, stay away from sites prone to flooding. Make an online check and refer to your flood maps.
Furthermore, consult a professional to know the technicalities concerning land quality, such as soil type and distribution, water chart level and rock or tree content within the soil.
Buying a land is a process, but choosing which to buy is even longer. Use the tips above to guide you in your decision.