The essential checklist for purchasing your own block of land

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If you’ve made the decision to purchase a block of land on which to build your dream home, then you undoubtedly have an exciting journey ahead of you. Of course, you’ll want to start by deciding on a location – ideally your block will be in an area you love, or which borders your preferred suburb. But there are a few other things to consider before you set off down the path to becoming a land owner.

Our handy checklist below will help you map out your journey, giving you the best chance of purchasing that perfect block sooner.

Get your finances in order

The best place to start is by assessing your financial situation and how much you can afford to borrow – this will help you set the budget for your land purchase. Once your budget is confirmed, speaking to a bank representative or financial advisor will assist you to determine the type of loan that will be most suitable. For instance, many banks have land and construction loans that allow you to progressively draw funds as required during the construction of your home, to help you save on interest.

Choose your builder and/or architect first

Before setting out on your land search, it helps to do your due diligence on the builders and architects you will work with. These people will be with you most of the way – so you want reputable, trustworthy individuals or companies who share your vision. Be sure to ask for references or examples of prior projects to get a feel for the type of home you’ll be building.

Find the block that fits

During your land search, you’ll find blocks in all shapes and sizes – and not every block may be right for the type of home you want to build. One block may have a slope, another may be narrow or angular, while yet another may be in a battle-axe configuration. As such, it can be helpful to have your house design in mind when making your block selection – this way you won’t face the disappointment of finding your dream home doesn’t fit!

Understand your block’s characteristics

Your block’s aspect will have an influence on where you position your home and also how it performs in relation to energy consumption. For instance, blocks that allow your home to be built with a north-facing aspect are easier to cool in the summer and warm in the winter, saving you money on energy bills. In addition, it’s also beneficial to check on existing site characteristics such as soil type, trees and water retention, as these can have an impact on how you build your home.

Check on proximity to amenities

Ideally, your block will be located close to infrastructure and amenities such as shopping centres, railway and bus services, parks and schools. Not only are these features ideal if you need to grab some groceries for dinner, commute to work, or find something to do on the weekend, but they offer excellent potential for long-term growth in the value of your land.

To find out more about purchasing a block of land in north-west Sydney, contact one of our friendly Clearstate team members on 1300 889 441.

Clearstate is an experienced and trusted Australian developer, with a longstanding commitment to the people and communities of north-west Sydney. To find out more about Clearstate, click here.

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