Guide to Buying Land in QLD
Buying land is an exciting time as it brings you a step closer to building your dream home. Here are a few steps to help prepare for a smooth transaction.
Determine Borrowing Power
Before you begin looking at property, you should speak with your bank or a broker about your borrowing capacity. Ideally, you will also save the largest possible deposit before deciding to buy to minimise the amount you need to borrow. This will also minimise the amount of interest that will eventually be paid and means you may avoid extra charges such as mortgage insurance.
Local mortgage brokers for your consideration.
Research Available Land
LOCATION is perhaps the most important consideration when purchasing a block of land. While you can change the design of your home, you cannot change its location. So, make sure you inspect the block in person and have a look around the area. You should also consider.
Size and shape – Vacant blocks come in all shapes and sizes. You ideally want to find a square or rectangular block as this is the easiest shape to build on.
Slope – The slope of the block can influence the cost, time, and design of the build. Your builder is the best person to discuss this with to determine any added development or design considerations.
Local Estates selling blocks of land
Choosing a Builder
A common misconception when buying land (particularly within an Estate like Riverstone Rise) is that the builders are assigned. This is not the case. You, as the buyer, can choose who you would like to build your new home with. It’s important to have a good idea of what you’re looking for before starting the process. That could include considering:
- Number of bedrooms
- Number of bathrooms
- Size of kitchen
- Number of living/dining areas
- Configuration of kitchen/living/dining areas (open or closed plan?)
Some of our local builders include:
- Tenheggeler Homes
- Chris Warren Homes
- GPS Homes
- Coast 2 County Construction
- Gladstone Designer Homes
- MZ Homes
Making an Offer
Once you have determined your affordability and found a block that works for you, the next step will be to discuss an offer with the Real Estate Agent. Putting your offer in writing shows the seller that you are serious and avoids confusion with verbal negotiations. The Real Estate Agent will present a buyer with several documents and is obliged to go through these documents to avoid any confusion. It would be best to employ a conveyancer to assist with the sale and overlook the documents before signing.
Local conveyancers for your consideration.
- Chris Trevor & Associates
- Gladstone Legal
- By The Rules
- Macdonald & Michel
- VAJ Byrne & Co
- Kenny & Partners