Additionally, while it is more than likely your building developer has already researched your block of land, you must remember to verify any bushfire, cyclone, or flood risks with your local council. These dangers can impact your insurance costs and ability to receive finance for your project.
As a rule of thumb, you ought to be careful when considering blocks of land near to large bush-land or waterways.
Moreover, it’s worth remembering that more “unique or unusual” blocks of land – such as battle-axe or corner blocks – may be more difficult to sell when the time comes. However, these irregular blocks have some pros. For instance, the battle-axe block usually has a lower price and the corner block allows for the potential of a subdivision.
Similarly, if your block is located below street level or at the bottom of a slope, you will have to discuss draining issues with your developer.
Likewise, blocks which are rocky or in need of tree removal will cost more to build on. One way in which you can avoid this problem is to purchase a house and land package, which would solve the problem.
It is not only the placement of the house that will be important, where windows are located will have a significant impact on your electricity bill. So you should consider the placement of rooms, windows and so on before buying your block of land.
Carefully choosing the placement of your land will not only reduce your heating bills but also allow your house to be ‘greener’.
However, if you’re hoping to purchase land in an undeveloped, rural area, it is vital that you do your research. For instance, if the utility companies in your area need to install major infrastructure to connect your house to the necessary utilities, you will be charged for this. Infrastructure bills can get very expensive, very quickly with some costs reaching five figures.