Are you looking to buy land in Melbourne, Sydney or Even Brisbane?
If you’re among the many other Australians that are hoping to build their own brand-new residences, then you’ll most likely be looking to buy some land. From Melbourne to Queensland, buying land in Australia is a crucial part of the new-build process.
Whether you’re planning a holiday home or a primary residence that your growing family can be comfortable in for years to come, building your own home in a developing Australian city is a fabulous opportunity. You can choose exactly what goes where, including how far away your kids’ bedrooms are from yours. It is commonly seen as a stressful undertaking, however, but whether or not you experience this, you can put your feet up at the end because you’ll know that the new building is exactly what you wanted.
Are Australians building more homes?
According to Master Builders Australia, we are indeed upping the stakes in terms of new builds. This also means Australians are beginning to buy more land in the outer suburbs of popular Australian cities including Melbourne and Sydney.
“Despite a dip in the latest building approvals, residential builders can be confident with a strong pipeline of work for 2016,” said Chief Economist of Master Builders Australia Peter Jones.
“While approvals are off their peak, they continue to hold at a high level despite monthly volatility, particularly in high-rise apartment approvals.”
“Residential builders can be confident with a strong pipeline of work for 2016.”
So, high-rise apartments are going up and land is being utilised effectively to house more and more people. That’s important when you look at the growing Australian population. The Australian Bureau of Statistics suggests that there were 313,200 new additions to our country by September last year, pushing our population to 23.9 million, and that is now above 24 million. More people require more housing, so high-rise buildings are a sound move.
Brand new homes are also fantastic at creating the potential for capital gains as well. To start with, the kitchen and bathrooms will be brand new, meaning they probably won’t have to be updated for another 15 years. A modern style can also be incorporated into the design, and for pure resale value years down the track, that’s an attractive thought. We recently looked at what modern trends you should look out for when buying a property, but you could build them into your very own home exactly the way you’d like.
Where you should build
Before you start planning your dream too much, you’ll have to keep in mind that a piece of land is required to build on. Whether you choose to buy land in Sydney, Melbourne or Brisbane, the process will likely be similar. This might well be the most expensive part of the entire building process, but it can also be seen as the most important. It doesn’t matter how much money you throw at an enormous piece of land or an elaborate construction plan, buying land in the wrong area can turn your dream for capital gains on its head.
Where is your perfect patch of land to build on? Would you prefer to buy land in Brisbane, Sydney or Melbourne?
Location is crucial when buying land in any city. Buying the worst plot of land on the best street is better than buying the best patch on the worst street because you can make your property different, but you can’t change the entire street. A buyer’s agent from Cohen Handler is the solution to finding the best place to buy and build – they have specific market knowledge in various areas around Australia, which can be invaluable to your buying journey.
Before you have purchased a piece of real estate, your buyer’s agent will also take into account all of your specifications for the property you want to build. You might want a huge backyard for your kids to run about in, or room for a tennis court and pool that overlooks the sea. These would be very different requests to somebody buying a plot to build an apartment block, for example. A buyer’s agent has your best interests at heart and can really take all of the stress out of buying a land.
Get in touch with Cohen Handler today, and join the many Australians who already see the value in building their own home. What would you build?
Frequently Asked Questions
Where is the cheapest land in Sydney?
While one of the most expensive cities for real estate in the world, keen-eyed buyers willing to build can secure land at attractive prices within Sydney. The median land price of periurban LGAs such as Wollondilly can drop as low as $32 per square metre, or just over $30,000 per hectare.
What questions should I ask when buying land in Australia?
Buying land is a complex process, and much goes into making the right decision. Key questions to ask include whether there are any easements on the block, if core utilities are available, and what kind of foundation and structure the ground will support. The Cohen Handler team of buyer’s agents have extensive experience helping people buy land in Sydney, Brisbane and Melbourne, so we can help you find the right parcel for your needs.
What should I check before buying land?
Once you’ve verified that the land is suitable to build on, it’s vital that you check it meets your requirements. Check that the location is suitable for your lifestyle – public transport, amenities, etc – and take note of the orientation of the block. If you’re a first-time buyer, don’t worry – trust Cohen Handler to provide the guidance and support you need to make the informed decision about your plot.
Is land a good investment?
Land is a passive investment that by and large does not require significant input from you to increase in value. If you’re looking to grow the land segment of your investment portfolio, speak to the team at Cohen Handler. We can support you in developing a winning strategy that helps you buy land that will support your financial goals.