10 Questions To Ask When Buying Land
When you’re at the beginning of your land buying journey, there’s a lot to get your head around. Sometimes just knowing the right questions to ask will help you gather valuable information.
To make your life easier, we’ve created a list of questions for you to take when you visit a land sales office. This will ensure you get the most out of your visit, and help arm you with everything you need to know to buy your dream block of land.
1. Is the block of land I want to purchase titled / registered?
For any property to be legally sold including a new land lot, it must have a certificate of title or registration confirmation certificate. This is a legal document issued by a state/territory government which details the description of the piece of land and who owns it. When you buy a property the title or registration will officially be transferred to you and then you can officially start building your new home. If the land hasn’t titled, make sure you ask for an expected date.
2. How much money should I budget for site works?
Some sites are rocky, sandy or contain heavy clays. Site works include all the work it takes to prepare a site for building and will differ from site to site. This is a fee which is payable to your home builder, but the developer should have a rough estimate of costs for you.
3. What are the different land options you have here within my budget?
Block sizes and shapes can vary greatly. The sales team will be able to outline exactly what’s on offer within your budget. They’ll talk to you about what type of home you’re looking to build, and what blocks will suit best. They will also outline other factors to consider when selecting a block of land such as aspect, inclines and soil composition. Asking this question is very important as it can affect the size and layout of your home design choice.
4. Are there any building covenants / design guidelines for this community I should be aware of?
Design guidelines assist you with designing your home to a high standard, maximising the value of your investment, complementing the natural surrounds and enhancing the quality of the community as a whole. Some community design guidelines include colour and material specifications for your new home, so be sure to ask this question so it doesn’t affect your choices later down the track.
5. Does this community offer any incentives or bonuses if I purchase my land here?
The sales team can let you know about any bonus front garden landscaping or solar power packages available for the community which can make a real difference to your wallet.
6. Can you take me through the masterplan for this community?
The team in the land sales office will be able to bring the vision of the community to life for you. The masterplan of the community will highlight the key features and amenities you can expect. Remember to ask about schools, parks, shopping centres, and any other amenity which is important to your way of life.
7. What sustainability initiatives have been / are being incorporated into this community?
As we become increasingly aware of our environmental footprint, choosing a place to live that reduces our impact on the environment is an important consideration. For Peet, connecting with the existing landscape is fundamental to our community planning. As well as this, incorporating recycled water systems, solar power initiatives, recycled roading and EV charging stations are just some of the ways our communities strive to be kinder to the planet. If you feel strongly about certain sustainability programs or initiatives, be sure to ask the sales team.
8. What events would you recommend I attend to get a feel for the community?
In more established communities, the team at the land sales office will be able to provide you with the community initiatives and events they have planned, so you can come along and meet your future neighbours. Also ask questions about which council the community belongs to, what community groups are active in the area and any or information you can get about living in that community.
9. Is there a set time from when I buy land here, to when I have to build?
New land development projects typically require land purchasers to start building within a certain timeframe of title / registration of their block – it’s important to take this into account if you’re considering an overseas trip, or any other factors that may delay your build.
10. What timeframes do I need to consider throughout the land buying process?
When purchasing land it is essential to understand the timeframes the Developer has in place in order to be best prepared for the next steps in the process. Although the Developer builds contingencies into their timings to allow for unexpected delays, timeframes are subject to change for a variety of reasons and arming yourself with more detail around timings will assist with:
• Having the necessary savings in place for your deposit
• Commencing your finance application at the right time – your lender / finance broker will assist with this
• Establishing a targeted build start date with your chosen home builder
• Planning your move in date.
Now it’s time to head off to the land sales office in the community of your choice, and don’t forget to ask these 10 important questions!
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