If you want to try your hand in investing in real estate property in QLD, it’s advisable that you first familiarise yourself with the available options out there in the market. There are many different types of viable land for sale, and it’s an opportunity that you would want to make the most of while it’s ripe for the picking.
To give you a head start, here’s a quick, informative overview on some of the more common types of real estate property you can invest in.
Residential land – As the name suggests, this is offered primarily for those who are looking to put up a home. These blocks of land can be located in a more suburban area of a state or region. There are some properties that only offer the land, while there are others that come with a house and land package, making it convenient for you.
Acreage Land – this type of land pertains to a larger-sized property compared to the standard residential. Because of its size, there are many other possibilities for its use. It can be broken down into single blocks that are owned by the general public, or it could instead be sub-divided into properties owned by developers. Acreage Land can also be used for subdivision housing. Therefore, you can have an acreage land that contains within it several other types of properties, such as a mix of residential and commercial properties.
Englobo – An englobo property is otherwise known in Australia as an undeveloped lot, which can potentially be transformed into subdivisions, according to the existing land use provision. This group of lots is already zoned to accommodate such developments in the future. So in case you don’t necessarily have anything in mind as of yet for the land, you can buy the englobo and team up with a developer who would know what to do with it.
Development Approval Land – This type of land essentially means that it has the permission of the local government to be developed as the owner sees fit. If you happen to have land that is subject to DA, you need to determine which particular kind of approval you’ll need. There are three of them: planning consent, building rules consent, and land division consent. The consent you will need will ultimately depend on what kind of developer you want to do with it in the first place, so settle that issue first.
It can seem overwhelming and daunting, having to pick a type of property that can give you the most returns for your investment. To make the right choice, consult with professionals in Queensland, such as Lion Land Marketing.
Top 3 Major Types of Real Estate Property. TheBalance.com.
Property Titles in Australia. JustLanded.com.