By Geraldine Houghs, a Sydney-based real estate agent, with resource info from reiwa.com.au.
One of the first and important things you have to consider when you are in the process of building your dream home is where you will have it constructed. This means that you have to put some diligent thought into where and which block of land you will invest in.
How To Select The Right Block Of Land To Invest In
To make sure that you will be choosing the right block of land to buy, there are certain important factors that you should consider. The top 4 factors you should consider are the following:
Your budget. This usually is the most important factor first-time investors would consider. The important thing to remember is once you have set your budget, stick to it. The last thing you want is to find yourself investing in a parcel of land that you can’t afford or will have a hard time paying for in the long run.
How To Select The Right Block Of Land To Invest In
To make sure that you will be choosing the right block of land to buy, there are certain important factors that you should consider. The top 4 factors you should consider are the following:
Your budget. This usually is the most important factor first-time investors would consider. The important thing to remember is once you have set your budget, stick to it. The last thing you want is to find yourself investing in a parcel of land that you can’t afford or will have a hard time paying for in the long run.
Your lifestyle. The place where you will eventually live in will have a large impact on your lifestyle and family. For starters, your choice of location is important and can affect the re-sale value of your property in the future. Find out what kind of infrastructure and amenities are nearby, how far away is transport, schools, shops, parks, community facilities and business centres. You will also need to check for negatives. You need to know if the property will be affected by noise and traffic, if there are trains, airports or industrial sites nearby or if the land is under a flight path. Lastly, check the quality of the homes in this community as well.
The orientation of the block. Consider the orientation of the site. Your block’s exposure to the sun, wind and rain can affect the kind of house that you want to build.
Utilities. Finally, before buying your block, make sure all utility services such as gas, water, electricity, sewerage, telephone and communications cabling are available or accessible for the home you want to build.
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