Buying land for sale in Queensland or elsewhere in Australia is definitely a good investment. Land is one of those assets that appreciate in value over time, which also makes it great for resale purposes. The question now is: what kind of land should you invest in?
There are many different kinds of land available, so finding the right one that will suit your needs is important. Land use is also given strict importance by local governments so you should make sure to utilise your land according to what is allowed by official policies.
Here are some of the more common types that you could consider for purchase with the help of a professional real estate agency.
As the name suggests, residential land is a type of real estate that is meant to be used for private housing. Depending on the land size, a residential land can accommodate a single-family unit or multifamily homes. You can invest in the former if you’re only interested in building your own house, while the latter is the best option if you are looking to get into residential property development, such as apartments and condominiums.
Meanwhile, when looking at residential land for sale, it is crucial to take note of the local zoning laws. This may vary for every location so make sure to consult with your real estate agent about this. Restrictions in the use of land may include the size and height of the building, the lot area where the structure is going to be built, the proximity of the buildings from each other, as well as any other facilities or implements that you may want to add.
This type of land is meant for business use, which covers a wide range of categories, including office buildings, malls and other shopping centres, industrial properties or even parking lots. You can use this to put up and establish your own business compound exclusively for your company’s use, or you can subdivide it into sections to be subleased to tenants. The return of investment from a commercial land or property is therefore more immediate, especially if there are tenants actively leasing the place.
If you’re in the business of manufacturing and producing goods, this is the type of land that you need. This is usually a lot bigger in size as compared to usual commercial properties. The expectation is that there will be a lot of space required not only to accommodate the different modes of production, but also the machinery and other equipment needed to produce the goods.
Agencies like Lion Land Marketing can assist you in finding the right kind of property in QLD and other areas nearby that would be best suited for your investment needs.
Types of Land Tenure. Queensland Government.
Australia – Property Options and Types. ExpatFocus.com.