DOs and DON’Ts of Land Shopping

Small model house on grass

More than just shopping for a home or pre-existing building, there’s something particularly exciting about looking for land for sale around Whittlesea, Vic. There’s just so much promise and possibility in a plot of land that can be enticing as it invites you to mould it in ways that will grant you comfort or success in investment.

All of that hinges, however, on making the right choice when it comes what plot of land to get. Here are the things you need to do and what you need to avoid to ensure that you make the right decision.

True Value

While every plot of land might have an obvious price tag for sale, there’s a chance that price doesn’t reflect the true value of a plot of land. There are many factors involved in determining the true value of a property. First and foremost is the location of the land.

Those that are closer to towns and especially town centres are valued higher than those farther away. Another is the state of the land itself — the richness of the soil, whether there are sources of water or not, and even the physical beauty of the surroundings.

The best way to figure these out is to do research. You can search city documents or even hire a surveyor. Knowing this value will help determine if you are getting a good piece of land for a fair price.

Allowable Improvements

So you’ve figured that you’re getting the right price for the value of the property that you’re getting, don’t rush to make a purchase yet. The next thing that you need to find out is what you’re allowed to build on your plot of land.

You’ll be surprised just how many limitations there might be on the land, determined by the specificity of your location. For example, those that are close to airports have limitations on height of structures. Those that are in agricultural areas can’t be too industrial in their design.

Generally, restrictions might be only limited to aesthetic considerations within a planned community layout. It pays to be aware of these long before you pay for that plot of land.

Neighbourhood Charm

Residential overview

Whether it’s for your home or as a commercial enterprise, your neighbourhood and those who live there matter a lot when it comes down to it. If you aren’t comfortable nor won’t be happy with who you’re eventually going to end up living with, then it isn’t going to be a great investment no matter what the monetary value of the land is.

That’s because peace of mind is still a critical component of overall happiness and satisfaction. Take time to understand who composes your neighbourhood and avoid just making snap decisions.

Empty land holds so much potential. You can put up a home of your own or start a commercial investment. Whether or not you’re ultimately happy with that investment depends on how well you follow these DOs and DON’Ts.

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