8. Service availability
While those who live in cities and urban areas take it for granted, there are many rural and country blocks that are not yet connected to town services. If you’re keen on a block that isn’t yet connected, it’s important to find out where the services are located so you can work out how much to budget for connections. Your builder can help you with some estimates on this. Sometimes the connections are hard to access or too far away for it to be economical, in which case you may need to consider on-site services such as a water tank, solar panels and a septic system. Once again, these can add significant costs to your build, so make sure you find out about this before you decide to buy.
An easement is a section of land that someone who doesn’t own the land has the right to access or use. There are many different types of easements, including a right of way easement such as a shared driveway, or an easement for services where gas, electricity or telecommunications pipes or cables that service the community run through the land. You can find out if an easement exists on the land by checking the property title and it’s important to do this before you buy as it may affect your ability to build your new home.
10. Restrictions and covenants
Restrictions and covenants are basically limitations or guidelines on how and what you can build. These could relate to things like the size, colour, building materials and landscaping that you are allowed to do. Most often you’ll find these requirements apply in new estates and developments where they are put in place to maintain the aesthetics, health, and economic value of the community.
Bonus tip: Always look at the whole picture
When buying land, it’s easy to get caught up in the excitement of it all and fall in love with a block that looks ideal on the surface, but always look at the whole picture before committing.
Buying land to build a house is one of the biggest purchases you’ll make, so getting great value is key. It’s also critical that you don’t overspend on your land and leave yourself short to build your dream home. Your due diligence here comes back to understanding that the purchase price of the block isn’t always reflective of the total cost. You should always be aware of and include those potential hidden costs that can pop up into your budget. Doing so could save you a mountain of time, money and headaches.
Have a question or need some advice about buying a block of land to build your dream home? Get in touch with our friendly team today!