What to ask when buying land

Article "Make a decision based on your head, not your heart: Angie Tomlinson; Weekend West.  March 8-9 2014"

Keeping a level head and asking plenty of questions could be the difference between buying the block of your dreams and ending up with an unaffordable lemon. In Perth’s evolving land market, it has never been more important. 

The Block

1.       Where the land slopes, are retaining walls included in the price?

2.       Are there any restrictive covenants on the block?

3.       Are fences, landscaping and fibre-optic connectivity included?

4.       Are there any easements on the property?  

 

Does the block suit you?

1.       What size of backyard do you need for children, entertainment or a veggie garden – or none at all?

2.       Do you need rear access – for a boat or caravan?

3.       How many cars do you have and do you want them all parked under cover?

4.       Where and how do you socialise? Do you like to have a backyard BBQ or go out?

 

Building

1.       Does your chosen house fit the block?

2.       Does the block orientation work with the house design?

 

The Location

1.       Are the facilities being promised such as schools, parks and shops and when will they be completed?

2.       Is the developer working to build a community?

3.       How far is the block from public transport and key transport links?

 

Finance

1.       What are the terms of settlement?

2.       What is the site classification and anticipated site costs?

3.       How has the area performed in terms of growth?

4.       Do you require finance?

 

As your Mortgage Choice broker, I can assist you with any queries or questions that you may have in relation to the foregoing. Telephone or email me now

Mark Hevron 0418 915 920

mark.hevron@mortgagechoice.com.au

to arrange a time to review your situation at a time and place convenient for you.

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