When you buy a block of land, you want to be certain you’ve made the best decision. If you want more control over a home’s design, you may want to look at buying land and building a home. By buying land, you can build a home to suit you and your family’s needs, all so you can live the life you dream of and deserve. But there’s a lot of steps in the land buying process, and it is best to know what each step involves. Here’s how to find the right land for you.
- The Main Benefits of Buying Land
- Grants for Land Owners
- How to Buy Land Perfect For You
- Where to Buy Land
The Main Benefits of Buying Land
While you can’t start your new life on a block of land right away, raw land could be a solid long term investment for you. If done right, buying land has the following key benefits as an owner-occupier:
- Potential to bring you good returns.
- Potential for large profit margins.
- Choice of location and land orientation (most prefer a north-facing backyard, while others favour facing south).
- Most land is positioned within a new community, which attracts further benefits as your new neighbours are all in the same boat.
- Opportunity to live in a community with a dedicated community development officer, whose job it is to organise activities and bring people together.
Grants for Land Owners
If you’re buying land, you may be able to apply for a number of government grants:
- If you are building your first home: the Home Builder grant and the First Home Owner’s Grant
- If you are building a home in a master planned community such as Waterford, you may be eligible for stamp duty exemption.
Conditions apply for these grants, and you may be eligible for more than one. Visit the above government websites for more information, or to apply.
How to Buy Land Perfect For You
No land is created equal, and every block of land comes with certain challenges. Ideally, your goal is to design for the land.
Sometimes when you buy land, you’re limited by certain council zoning and planning controls. Before purchasing land, you should look into limitations such as:
- Shadow rules
- Height restrictions
- Heritage area requirements
- Floor space ratios
- Open space requirements
- Minimum block size (if you want to consider future sub-division opportunities)
For all land, there are some key factors you can keep in mind:
The soil on your land is important. In fact, the cost of building your home’s foundations depends completely on the soil. The type of soil, for instance, can incur added costs for earthworks and land retention.
When buying land, its steepness is something you can look at. The steeper the block, the more expensive it is to build on.
You can call the individual utility companies to check the cost of connecting water, gas and electricity, and to see if the service connections are included.
You may be able to reduce your energy bills if you find north-facing land with a backyard. This is because a north-facing home can maximise the amount of sunlight it receives during winter, while minimising sun exposure in the hotter months. Your home will naturally align with the seasons, warming in the winter and cooling in the summer. If you buy land with a view or surrounding nature and trees, that’s even better.
If you’d prefer a stress-free alternative to considering all these factors, a house and land package may be for you.
Where to Buy Land
When you buy land close to amenities like parks, healthcare and schools, you can save travel time. This makes life easier. You may not always be able to buy land in your desired location, so sometimes expanding your search bubble can bring back some fantastic options. Waterford is a community with open space to roam, walk and cycle in, with proposed future shops and public transport close by. The community is built in the optimal location for building, with New South Wales’ best builders ready to take care of your build. Contact us today for more information.
Waterford is a community living at its finest. A short drive from Newcastle and nestled into the spacious surrounds and natural escapes of East Maitland, enjoy tranquil parklands, panoramic views and easy access to all the essentials.
At AVID Property Group, we bring people together. To find out more about our developments in New South Wales, Victoria and Queensland and how you can invest in the home of your dreams, contact us today.
Live in your dream home.
Build a brand new home with one of Waterford’s Home & Land packages or select your ideal block and build your dream home for life.