Browse Forums Buying Land Re: How to buy Land? 9Jul 13, 2020 11:20 pm Yes! Anyone can purchase land to build on in Australia, as large as their purchase is confirmed by the FIRB (Foreign Investment Review Board). Usually, this is very easy to obtain and will rely on you buying to complete the construction within four years of buying the land, and on providing proof of that finish within thirty days. Remember that if there was a house on the plot, even if it’s a ruin, it doesn’t include as free! In that kind of case, you’d just need to apply for a household redevelopment investment. Re: How to buy Land? 10Sep 21, 2020 2:34 am Another thing you should do is speak to a few builders. Most will be able to tell you the site costs in the area you are looking at. They can also tell you what size house you can build on the land. Also many conveyances will look over section 32 for any red flags for free. Re: How to buy Land? 11Sep 24, 2020 8:07 pm Brett0004 A good little tip for buying any property is to put in a Dial Before you Dig request on the block. They send you back all the known service's and easements on the land. Best thing is it's a free service. Thanks for your help i really appreciate that great tip.. thanks again Re: How to buy Land? 12Sep 29, 2020 5:08 pm When looking for a block to build I think you have a great opportunity to plan for a passive solar design. I would highly recommend looking into ddarroch's post and the yourhome link. Learn the basic principles and let this guide your decision on buying a block. Some sites are very unsuitable for an energy efficient house and consequently it will be an uphill battle to design a home that is not grappling with hot and cold temperatures throughout the year (not to mention costly). You will also be much more comfortable in a passive solar designed house What ddarroch has said is key. Also look for potential shading from large trees or buildings that will block any northern sun in the winter. Also look for any potential shading from the east and west that could be a benefit in the summer. We said no to a block simply because it was very likely that the single storey house to the north was going to be knocked over for a block of townhosues (as most sites were on that street). Don't be afraid to go and spend time at the block at different times of the day. This is an opportunity that you can't usually get with buying an existing house. You can really test out what the neighbours are like. The other things I would advise is to get a report on any easements or encumbrances that may affect what and where you can build. Also a soil report may be worth the upfront cost as it may turn out that the soil is very reactive or perhaps contaminated. I was lucky in that the previous owner had already had one of these done. It was an extra reassurance that the soil was sound for building and for growing things. Ask the agent if there are any reports or even building plans that the previous owner may have had done. The council is another area to consider. They may have strict building restrictions and you could end up having to build something that is different from what you intended. This is all time consuming but dilligence now can save you a lot of money and stress in the future. You can also end up with a very comfortable and livible home Re: How to buy Land? 13Sep 29, 2020 9:23 pm Thanks everyone for your advice. I was more after advice as to how to go about the actual purchase. Do you just start with making an offer? Ie. If you want to pay a lesser amount than what is advertised. How do you put a deposit down? Eg. Who decides how much? Is it refundable if you decide not to go ahead? How long is it held until you must pay balance? Does the deposit have to be made in person by both buyers, eg. My husband and myself? Thanks again in advance Re: How to buy Land? 14Sep 29, 2020 9:48 pm Tash2020 Thanks everyone for your advice. I was more after advice as to how to go about the actual purchase. Do you just start with making an offer? Ie. If you want to pay a lesser amount than what is advertised. How do you put a deposit down? Eg. Who decides how much? Is it refundable if you decide not to go ahead? How long is it held until you must pay balance? Does the deposit have to be made in person by both buyers, eg. My husband and myself? Thanks again in advance It's the same as an established house. If you think you know what it's worth and are willing to make an offer, just ask the agent for a letter of offer. On that, you specify a price and usually other details like preferred settlement period and if the offer will be subject to anything like getting finance approved etc. You should also be able to nominate a deposit (only has to be enough that you wouldn't easily let it go. Doesn't have to be a set %). You only pay that deposit once the offer has been accepted, you have signed a contract and the cooling off period has ended (can just transfer to the agent's trust account). That then gets used as a part of your payment AFTER settlement has finished. You are not bound by an offer. Even if they accept you can just tell them no thanks. It's up to you what strategy you take with the offer. Agents are incredibly deceptive people and will spin you all sorts of nonsense to get you to offer more. But as the buyer you never really know. Good luck but make sure to do your diligence as well. Re: How to buy Land? 15Sep 30, 2020 2:30 am Tash2020 Thanks everyone for your advice. I was more after advice as to how to go about the actual purchase. Do you just start with making an offer? Ie. If you want to pay a lesser amount than what is advertised. How do you put a deposit down? Eg. Who decides how much? Is it refundable if you decide not to go ahead? How long is it held until you must pay balance? Does the deposit have to be made in person by both buyers, eg. My husband and myself? Thanks again in advance First thing I would recommend show the section 32 to a conveyancer who can check for red flags and advise you. Deposit is usually $1000 and make the contract subject to finance if you are getting a loan. You are best to contact a conveyancer as soon as possible, they should be able to guide you. Usually you can nominate a settlement period of say 4 weeks so you have that time for the bank to approve the loan. That is for titled land if you buy untitled land from the developer it works a bit differently. Looking at some of the designs on websites, they are all selling very similar products. I get that you want something stylish. It's worth looking for search terms like SaveH2O… 2 4600 Hi, This is my first post. We are planning to buy new home via House and Land (H&L) Package around Boxhill/Gables/Marsden Park in Syndey. Googled reviews for most of… 0 10474 Very good points. Thanks so much ponzutwo for your advice. Appreciate it. 2 10367 |