Tips for Buying Land | Madox Piara Waters

Tips for Buying Land

  • Before buying your first block of land, it is important to make sure you have all the right information for your needs.

    Speak to a Mirvac Sales Consultant today, who can guide you through the buying process and assist in finding the perfect block that is suitable for any lifestyle and budget.

    Mirvac offers tips and advice on buying land, what to look for when buying, and providing you a homebuyers checklist - just follow these simple step by step guide to assist your home buying experience!


    How to get started


    Set up your finances first - it is important to speak to someone with expertise in financing. First homebuyers should seek the assistance of a reputable, independent mortgage broker or a bank. They will show you:


    1.     How much deposit you will require to purchase your new land.

    2.     How can you apply for Government grants and what you may be entitled to.

    3.     How much you can comfortably borrow, and what your repayments will be.

    4.     Which lenders are offering the best loan package for you.

    5.     How can you arrange for your home loan to be pre-approved.

    6.     How much you will need for all the extras like stamp duty, legal fees, etc.


    How to choose the right land


    There are key questions you need to answer before choosing the right block of land:


    1.     How conveniently is it located to amenities?

    2.     Is the location in a sustainable community with established trees and public open space?

    3.     Will the home design fit on the land I have chosen considering setbacks and easements?      

    4.     How close are you to public transport or major transport links?

    5.     Where are the closest schools and child-care centres?

    6.     Where is the local supermarket or shopping centres?

    7.     Is the homesite serviced by good broadband services?


    Things to consider


    It is important to have a good idea of your budget before you start, so that you can start planning your dream home while staying within budget. Ask yourself these questions:


    1.     Does the home design fit on the land I have chosen?

    2.     Will the design meet all local government planning rules and the developer's design guidelines?

    3.     Is it the best environmentally friendly design for energy efficiency and air-flow?

    4.     How many bedrooms do you need? What about the kitchen and living areas?

    5.     Do you need to cater for a growing family?

    6.     What are the things to must have in a new home and things you could compromise on to stay within budget?


    How to choose the right builder


    Reputation is everything - do your research and find out as much as you can about the builder you're considering.


    Take a look through the builder's display homes

    Look at the number of designs offered by the builder and whether it suits your needs

    Read through online reviews

    What are their customers saying

    Check that the builders hold a license


    Buying off the plan


    Buying off the plan can have great benefits, it allows you to customise the house designs to suit your family needs, put your own style into the home, and your choice of colours and finishes - something you can't do with an established home!


    Consider these advantages:


    1.     Many builders use computer generated images to create visual depictions of a home to show you how it will look when the home is finished.

    2.     Enhanced floor plans help to further convey the room sizes, and can assist in the planning of furnishing and styling your new home.

    3.     Buying off the plan will generally involve an extended settlement period giving purchasers the time to get financial affairs in order.

    4.     Gives purchasers the opportunity to secure a property at today's market price.

    5.     Offers a greater selection of home designs available for your budget.

    6.     The flexibility to choose preferred colour schemes and options.


    For more information and to help you get on your way, view our first home buyers brochure here.

    Download Mirvac's First Home buyers Brochure 

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