Considerations for Choosing Land
When looking at land there are many considerations that take a back seat to budget. If you’re in the market for land, we recommend you consider the following points when doing inspections.
Good deals get snatched up quickly so it’s critical to ask the right questions and know what you are looking for. Conveyance lawyers make a living knowing what to look for, and while every property sale will involve them, knowing what to look for before they get involved is how good investors can act quickly and get the deal they are after while the competition is still thinking.
Each of these points has individual value but they also relate and effect each offer in an intricate way and will determine the overall value of your prospect buy.
- Tile Covenants / restrictions
- Natural site drainage / easements
- Flood Zoning – Australian Height Datum for ocean or lake properties
- Survey package included
- Endangered animals or plants on land
- Boundary setbacks
- Adjoining properties
- Previous neighbour proposal rejections
- Land gradients
- Land size vs buildable area
- Land clearing requirements and costs
- Shadowing and privacy limitations for neighbouring properties
- Shape of lot and corresponding build requirements
- Sun and air orientation
- Solar potential
- Services accessibility and mandatory requirements
- Road conditions
- Drive access and parking