If you’re in the market to buy a block of land within a new estate, these are the things you should consider before putting down your money to secure the block.
1. Orientation
Do you know whether the block you are considering purchasing is North or West facing? And if so, do you know how to make sure you have a well-designed floor plan to take advantage of its natural features?
A poor design on a West facing block can lead to your home feeling like a sauna in the warmer months. It may also mean increased energy costs as you’ll likely feel the need to run the air-conditioning more often.
As a guide, North facing blocks do get the best sun exposure and therefore you should place your living areas there. The narrower ends of your home are better placed on the West and East of your block. The wide sides of your home are best placed facing North and South. Make sure you know the orientation of the block and ensure your builder makes this an important factor before finalising your house design plans.
2. Price
An expensive block of land can mean less budget on your new home build. Often new land purchasers will say, we have spent $500,000 on the block so we only have $300,000 left to build our new home without a true realisation that their remaining budget may not allow for all the features they dreamt of having.
Be realistic about build costs, especially in this market, and make sure you do your research with builders to get an idea of how much your new home will cost. Sometimes, it’s better to purchase a smaller block of land so you can have a more generous budget to build the dream house to suit your family and lifestyle.
You should also consider some additional costs, e.g. BAL requirements, landscaping, fencing, retaining walls.
3. Land slope and levels
Ensure that you know exactly how much fall and fill your block of land requires before putting your money down on the block of land as your build cost can be significantly affected by the fall and rises of your land levels.
Get to know where your easements are and if any covenants, including any specific estate restrictions, which may apply prior to buying the land to minimise any future surprises.
4. Infrastructure
If there anything more frustrating than moving into a new area and not getting any mobile phone reception. Or worse, the kids not being able to get onto the wi-fi!
Do your research about the infrastructure which exists and which companies better service the area. It’s also a good time to ask whether the area is NBN ready.
5. Safety from bushfires and flooding
When buying land, it is important to keep in mind the location of the block and its proximity to bush or even the levels if it may be prone to flooding.
Bushfires are a common natural disaster in Australia and can be very dangerous for people who live close to bushland areas. The Australian Government has a website that provides information about bushfire risks around Australia. This website includes information about how often fires occur and their severity on a scale of 1-5. If your home is in a bush fire zone or have a BAL rating, you may be required to spend more money on the build to ensure the home is compliant.
Floods can also be very dangerous for people who live close to rivers or creeks because they might not know when it will happen next time. If your home is in a flood zone, specific design considerations must be made to proof your home.
6. Incentives
We all know the property market is very much up and down at the moment so its worthwhile to ask the developer whether there are any incentives for you to purchase a block of land. Often large developers will offer a cash-back rebate for landscaping or perhaps a discount of your block of land. There is no harm in asking.
About King Homes
King Homes NSW – a volume and custom home builder in Sydney builds homes with a high level of standard inclusions like 2.7m ceiling height, 20mm stone benchtops, driveway, plus so much more. King Homes prides itself in maximising the value we deliver to our clients. This commitment is at the heart of our business and our team.
We will support you through the entire build process, every step of the way, with complete transparency to ensure you love your brand new home.
