Choosing Your Block

When: Mon 04 Mar 2019
Choosing Your Block

 

Assuming you have spoken to a broker or a lender from a bank and you have a firm idea of how much you can spend, along with a clear idea of your preferred location. The next step as I mentioned in a previous blog is to hop in the car and hit the road.

You want to be trying to talk to as many people as possible in the house & land industry – ask questions. This is how you build your base of knowledge. Start from one end of a display village and walk through every display. Speak to each consultant, don’t avoid eye contact and keep on walking – they, along with the local estate land managers, are there to help you!

Surprisingly one of the areas that most purchasers’ are unaware of is the concept of “orientation” and how this should be considered when choosing a block, but then in-turn how this affects your preferred house plan.
When you grab a stage plan in a land estate, north is normally to the top of the page. The traditional north rear yard is still super appealing as this will give you all day sun to the rear of the property. Say you love a house plan that has living / alfresco down one side of the property – well then you would go for a lot with north to the side, which is going to give you all day north sun down the length of the property.

TOP TIP: Now the major point I would stress when purchasing a lot with a south back yard, and I live on one so I can speak from personal as well as professional experience, is to ask yourself – do you like a lot of natural sunlight? If you do, then I would strongly suggest you consider a plan that has a living space at the front of the home. This will allow you to enjoy the benefit of being able to relax and enjoy a space warmed by the winter sun.

Other super important things to consider when you are choosing a block of land:
  • Obvious I know but is it within your budget & will you still have a life when you start making repayments?
  • Are you buying a lot off the plan? If you are, when is it due to title and does this align with your long-term plans? You really need to forward plan, what are you going to be doing in 12 months, 2 years etc.
  • What is adjacent / next to or near your lot? E.g. are you buying a large lot? If you are, do smaller lots surround it? Do you have kids, if so where are the nearest schools & are you in your preferred school zone?
Next step is to put down the holding deposit, make sure to confirm that the holding deposit is refundable. Now don’t go all crazy and sign the contract just yet though, take a copy of the plan of subdivision and the engineering plan to your preferred builder/s to review. You’re doing this because you want to be comfortable you can build your preferred house on your preferred lot within budget.

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A common question we get when we are assisting first home buyers who are just starting the process. Where do you start? Do you buy the land first, get pre-approval from a bank, choose a builder etc?