You’ve been looking at different houses on the market, and nothing seems to tick off all your must-haves for your first home. Your next best option is to look for land for sale Newcastle that you can build your house on according to your exact specifications. But since this is a big investment, you need to be smart about your decisions. Here are some of the things that you should consider before sealing the deal on a piece of land:
Location
You can never emphasise this too much in real estate, whether you’re purchasing a house or a piece of land. For starters, you need to choose land that has resale value, so you have the flexibility of using it for different purposes. If you decide to resell it in the future, it would be easier for you to put it on the market. Consider the neighbourhood where you’re going to build a house. Think about the developments in the area and don’t choose land that’s completely isolated so you can have easy access to your needs.
Zoning requirements
Pieces of land are designated for different purposes. So, if you’re buying land for building a house, you need to know if that land is permitted for residential structures. It’s also important to know building and construction requirements, such as building additional structures like a fence or a swimming pool, so you won’t have a hard time with permits if you choose to renovate or extend your home in the future.
Costs
Unless you have an unlimited budget, determine the costs involved in buying the land you’re eyeing on. Remember that you’re not only paying for the upfront cost of that land, but you also need to take care of additional expenses like title insurance, licenses, and other requirements. It’s also ideal to conduct a land survey if that piece of land hasn’t been surveyed recently, so you know the exact boundaries of your property and you won’t have to deal with problems later on.
Utilities
Of course, you’ll need basic utility access if you choose to build a home on the piece of land that you’d like to invest in. Ensure to see if that area has sources for electricity, gas, and phone and internet lines. This will save you the additional expenses later on and make it easier for you to move into the home once it’s done.
Easements
Finally, it’s crucial that you know if there are any easements in place on the title of the property before you choose to buy it. An easement is a type of legal agreement where the title remains with the landowner, but another person will have the right to use it for a specific purpose. This will save you a lot of inconveniences later on because you won’t have to worry about other people gaining access to your property to cross another parcel of land or build on it.