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Thinking of buying a block of land ....

Thinking of buying a block of land ....

Old Apr 16th 2009, 10:07 pm
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Default Thinking of buying a block of land ....

We have saw a nice block 909m2 and have put it on hold. I have never wanted to build but we just cannot find what we want. It is a corner block which will give us side access as well.

Can anyone offer me some advice on what things I should look out for? We need to go in and pay a deposit this weekend.

I'm actually Sh***ing myself as I have heard it can be quite stressful. Yet, I am also quite excited by the thought of building our own home.
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Old Apr 16th 2009, 11:13 pm
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Default Re: Thinking of buying a block of land ....

Originally Posted by Scrawni 2 View Post
We have saw a nice block 909m2 and have put it on hold. I have never wanted to build but we just cannot find what we want. It is a corner block which will give us side access as well.

Can anyone offer me some advice on what things I should look out for? We need to go in and pay a deposit this weekend.

I'm actually Sh***ing myself as I have heard it can be quite stressful. Yet, I am also quite excited by the thought of building our own home.
Check your building envelope, driveway access, location of roads, sewer lines and other services, check the orientation of the lot. Every home needs to be designed specifically for the site that it is intended for. You need to check building and planning restrictions and if the developer has their own covenants. Check the area doesn't flood. Soil test etc. Make sure your contract is subject to finance approval. Good luck
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Old Apr 16th 2009, 11:59 pm
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Default Re: Thinking of buying a block of land ....

Originally Posted by Scrawni 2 View Post
We have saw a nice block 909m2 and have put it on hold. I have never wanted to build but we just cannot find what we want. It is a corner block which will give us side access as well.

Can anyone offer me some advice on what things I should look out for? We need to go in and pay a deposit this weekend.

I'm actually Sh***ing myself as I have heard it can be quite stressful. Yet, I am also quite excited by the thought of building our own home.
Other than pointing out that people want to pay less for a corner block because you loose the required nature strip/sidewalk area of 3m (or whatever) not just at the front but at one side too. Personally I've always liked corner blocks, but you do lose a chunk of land to regulations.
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Old Apr 16th 2009, 11:59 pm
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Default Re: Thinking of buying a block of land ....

There have been a few threads over the last couple of years going into great detail as to what to look for, what to ask etc etc when buying a block. Try a search as I can't remember who wrote them. Geelong Gent may have been one, There was one ages and ages ago someone in WA....Whatsherface, agghhhhh Ooh, Go Bananas I think but obviously there was shedloads of other stuff in hers to hunt through and no idea if the info is still relevant.

I'll go have a quick look.

Edit: really need to get some ironing done but here's a few to be going on with.
http://britishexpats.com/forum/showthread.php?t=445379
http://britishexpats.com/forum/showthread.php?t=497182
http://britishexpats.com/forum/showthread.php?t=503775
http://britishexpats.com/forum/showthread.php?t=507185

Last edited by moneypenny20; Apr 17th 2009 at 12:45 am. Reason: Added threads.
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Old Apr 17th 2009, 7:44 am
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Default Re: Thinking of buying a block of land ....

I'm in the same boat. I see plenty of places that peak my interest but I'm gonna wait at least another 6 months beofre I consider buying. If you can find an HONEST realestate agent of financial advisor they most likely will tell you to wait as prices are pegged to keep falling As the financial crisis takes hold here. The worst that can happen by waiting is the prices will stay put and you'll have to look for another block if that one sells... But one things for sure there will always be another one that will come along that will fit your needs... so be patient. You may find you get a much better price and you'll have your pick of builders as they start under cutting each other just to get work.

Last edited by furbacchione; Apr 17th 2009 at 7:50 am.
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Old Apr 17th 2009, 8:55 am
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Default Re: Thinking of buying a block of land ....

We found out to our costs, that a nice elevated block will cost you thousands in retaining walls!!
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Old Apr 17th 2009, 11:21 am
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Default Re: Thinking of buying a block of land ....

Hey, thank you for your responses, much appreciated.

We have just been up (8pm) to see what the area is like and it's pretty quiet.

The land is sat at the back of an estate next to acreage blocks (which haven't been released yet - and we couldn't afford one anyway). It isn't on a main road so traffic isn't a major concern.

I'll let you know how I go. We were going to wait but the home buyers grant had me thinking. Yet, I know that prices could still fall below even that grant price ..... now who had that crystal ball??????

Flying from the seat of my pants ..... wonder where I will end up

Moneypen, thanks for the link.
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Old Apr 17th 2009, 11:58 am
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Default Re: Thinking of buying a block of land ....

I'll let you know how I go. We were going to wait but the home buyers grant had me thinking. Yet, I know that prices could still fall below even that grant price ..... now who had that crystal ball??????

You're right there, who has a crystal ball????
If it has a nice feel to it and you have a 'hunch' go with your feelings!!
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Old Apr 17th 2009, 12:14 pm
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Default Re: Thinking of buying a block of land ....

Originally Posted by Scrawni 2 View Post
We have saw a nice block 909m2 and have put it on hold. I have never wanted to build but we just cannot find what we want. It is a corner block which will give us side access as well.

Can anyone offer me some advice on what things I should look out for? We need to go in and pay a deposit this weekend.

I'm actually Sh***ing myself as I have heard it can be quite stressful. Yet, I am also quite excited by the thought of building our own home.
good point about trying to see how level your land is, it can be quite an extra cost when you have to pay for it to be levelled or retaining walls, otherwise we have bought a corner plot and have two gardens which is a bonus or hindrance depending on your point of view?
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Old Apr 17th 2009, 12:16 pm
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Default Re: Thinking of buying a block of land ....

[QUOTE=Babsw;7487703]good point about trying to see how level your land is, it can be quite an extra cost when you have to pay for it to be levelled or retaining walls,


You're bloody right there..............we bought a elevated block, only for them to dig it level, costing a massive amount of $$$$$, when they hit lime stone!!
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Old Apr 17th 2009, 12:19 pm
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Default Re: Thinking of buying a block of land ....

Originally Posted by Scrawni 2 View Post
We have saw a nice block 909m2 and have put it on hold. I have never wanted to build but we just cannot find what we want. It is a corner block which will give us side access as well.

Can anyone offer me some advice on what things I should look out for? We need to go in and pay a deposit this weekend.

I'm actually Sh***ing myself as I have heard it can be quite stressful. Yet, I am also quite excited by the thought of building our own home.
just a word from OH that if you have a level plot you have to be careful with what (if anything) it has been filled in with.If it is naturally level, then no problem but if it has been levelled with cr** then be careful for your foundations as if they will go up in cost if they are not stable.I get the impression this doesn't happen all the time but is something to be aware of. Your soil test will tell you what is going on.
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Old Apr 17th 2009, 1:40 pm
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Default Re: Thinking of buying a block of land ....

Check that FHOG carefully Mandy as I don't think you can claim it until you officially take title to the completed property .....and how much will the grant be at that time?
It maybe less than the $21k it is now.....it could be zilch.

Check out this site which also has info on land tax etc when buying land.

http://www.osr.qld.gov.au/client-gro...er/index.shtml
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Old Apr 17th 2009, 10:10 pm
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Default Re: Thinking of buying a block of land ....

I think that all you need is a signed contract from the builder, dated before June 30th and you're eligible for the grant, so we had better get cracking!

The stamp duty will be $6535 but we have negotiated a $4000 discount with the land because we were cheeky and said it would cost to much for fencing a corner block with the covenants associated to it. So he is giving us some back to do the fencing.

The builder thinks that because it a naturally (almost) flat block it will only need 700ml cut and fill. Pray he is right. Like someone said the soil test will confirm and we will see how much it will cost.

We are looking a build Coral Hamilton on it which we really like the look of. Mind you, with the extras we want to add the price goes up another $50,000 on the base price.
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Old Apr 18th 2009, 5:29 am
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Default Re: Thinking of buying a block of land ....

Forget the base price, that's just to get you on the hook........
Make a list of everything down to every last nut and bolt required to finish the house to your spec.......and don't forget all the outside work....such as tiled or colour bond roof ,more than one light /socket in each room , driveways,paths,patio areas , boundary fencing ( if high fire risk zone may need to be concrete, non -conbustable) possible pool.... etc, etc.

Extras can add up $50/100 grand more.
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Old Apr 18th 2009, 5:53 am
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Default Re: Thinking of buying a block of land ....

OMG!! I was quite looking forward to buying a plot of land and building our own house - probably not for a couple of years yet - but I don't know if I could now after reading all of these posts!! Didn't know it was going to be sooo confusing and costly!

I think perhaps we may just buy a run down house and knock it down and rebuild! Or would that be even worse! OH GOD! We're going to be renting for another few years yet, (we have a house in the UK that we rent out and would have to sell first) but I don't think I'm going to be able to sleep tonight

I've got nothing against the newbuilds that are already built, but it's just that you get 3/4/5 houses on one plot! The houses are big enough, but you have no garden.

Well, at least I can try not to worry about it for another few years (no first time buyers grant though )!!

Good luck with your decision on buy the corner plot or not!! (I actually thought that would be better as it would be bigger! Didn't realise that you can't actually use ALL of that land. Thought you could go to the edge!!!)

All the best,

Lynn x
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