Land at Waterford is in high demand, and there are currently no blocks of land available. To be among the first to preview new land releases, express your interest with our Contact Us Form.
How Does Buying Land and Building a House Work?
The 7 Steps in the Land Purchase Process
From searching for the perfect block of land all the way through to picking up the keys, here are the main steps toward buying land. At Waterford, we match buyers with land to fit their lifestyle—all in one straightforward process.
1. Decide on your requirements
There are many types of land blocks out there, so it’s a good idea to determine what you’re looking for in a block. Do you need to be near amenities such as education, shops and parks? What are your non-negotiables? By taking the time to draw up a list of inclusions, you can make your search that much smoother.
2. Set your budget
It’s important to set your budget before you start searching for your perfect block of land. Financial advisors and mortgage brokers will also make this step in the process much easier, helping you apply for pre-approval and any government grants and exemptions.
3. Know what to look for
There are a few things you’ll want to consider when buying land—cheaper doesn’t always mean “better”, nor does it mean it’s right for you. Take a look at the land size and shape, its slope, and any trees or debris you’ll need to pay to remove before commencing the build. Consider its distance from major roads and public transport: many people choose to buy into a master-planned community so this is all taken care of. In fact, you can check out Waterford’s masterplan here.
4. Select a home design
Land for sale in a master-planned community has the benefit of being customisable to your tastes, with all of our builders vetted for quality. You’ll be able to consult on aspects like colour palettes, interior fittings and fixtures, and all the finishing touches to make your new house feel like a home.
5. Sign on the dotted line
It’s a good idea to speak to a legal professional and ensure that the paperwork (including the building contract and final contract plans) is exactly as it’s meant to be. Once your contracts are signed, it’s time to pay your deposit and send your documents to your lender.
6. Commence construction
Once your new block has been titled and soil testing is completed, construction work can begin! Generally, this is broken down into the steps of: pouring the slab, building the frame, lock-up, fixing, and finishing. Your builder will keep you updated throughout every step of this process.
7. Attend the final settlement and move in!
Before you sign off, get the keys and pay the final settlement, conduct the practical completion inspection to make sure everything is in order. Then, you can book your move-in day and set up your utilities—and focus on settling into your new life!
This article should not be considered professional financial advice. AVID is not a financial adviser. This article contains general information only and is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered legal practitioner or financial or investment adviser. No material contained within this website should be construed or relied upon as providing recommendations in relation to any legal or financial product. Although every effort has been made to verify the accuracy of the information contained in this website, AVID, its officers, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy in, or omission from the information contained on this website or any loss or damage suffered by any person directly or indirectly through relying on this information. You should seek out independent, professional advice on your personal circumstances, particular investment objectives and financial situation before making any financial decisions.