While many people prefer the more traditional home buying process, from setting up tours, placing offers, and ultimately getting their keys, for some, the idea of purchasing their own property and designing and constructing their dream home is more preferred. While both options have their own rewards and challenges, when it comes to purchasing property there are a few main things that you should consider before moving forward with your purchase.
Unfortunately, just because you own the property, doesn’t mean that it doesn’t come with specific stipulations, commonly referred to as property setbacks. Property setbacks are essentially a list of “rules” that are related to the size and location of the structure you want to build. For example, the property setback may require that a home of only a specific square footage be built on the lot, limit the number of floors, as well as limit where the structure can sit on the land.
In addition to the land being zoned for either commercial or residential use, there are also zoning laws that limit the number of structures that a property may have. This means that if you have always dreamt of a huge, detached shop or garage, you’ll want to make sure that the zoning on your desired property allows for multiple structures to occupy the land. Additionally, many zones have a “minimum” size structure that must occupy the land, so ensuring that your home can meet the minimum requirements is a must.
When it comes to building there are a lot of things to consider, especially regarding your utilities. You’ll have to do your research on each property to determine where all of your utilities will be provided from. Where will the power come from, where is the water source, electricity, water, cable, etc.
There are a lot of things to consider when it comes to purchasing land, and just like when purchasing or selling an existing home, you’ll always want to hire a reputable agent. With so many differences between existing homes as well as new builds, and even purchasing property to build, Property buyers agent Sydney wants to remind you to conduct ample research and make sure to hire an agent who has experience with purchasing property so that they can help advise you, answer any questions you may have, and ultimately find a property that will fit within your needs and wants and be the future plot for your dream home.