You’ve found what seems to be the perfect block of land! It’s within your budget and you love the location. Now what?
Before you sign on the dotted line, there are a number of factors you need to consider.
Zoning and design considerations:
The zoning of the block will directly affect your front setbacks and your plot ratio. This involves factors such as how far back from your building line you can begin construction and how much open space needs to be considered when looking at the total building envelope. Such questions can be answered by your local council.
Bushfire prone zone:
You should check here to see if the property falls within the bushfire prone area. If it does then this can add additional costs to your construction as there will be extra safety requirements that need to be considered.
Ensure that you know where the essential services are located. A common issue is the position of the sewer line. If the sewer line runs within the lot then it can impact where you can build.
It’s necessary to compare sales prices for similar-sized lots in comparable locations, you could also look at recent sales for newly constructed properties that will be similar to what you plan to build.
Do your research on the area. What is the school catchment zone? Values can change significantly as a result. Values can also vary considerably depending on what side of the main road you are on within a suburb.
Do you have any questions or would like more information? Please give Rob Walker a call on 0410 144 211 or fill out the contact form.