Every town or city in Queensland has its own legends and myths. These are stories written and told not to be believed but for both locals and foreigners to appreciate the rich culture Aussies find so important to preserve. Some myths, however, are not worth preserving. They are neither part of any culture nor invented for the purpose of education. They are stories that emerged purely out of misinformation and wrong assumption.
Some of these myths have been significantly affecting the real estate industry for decades. They are either discouraging buyers of land for sale in Queensland or tricking them into making bad choices. Here are some age-old misconceptions about land buying and selling that you should watch out for.
The competition is too tight so you need to hurry up and buy the first land you find.
Even though there are many people searching for land investments, the demand remains low most of the time. Land sale is actually quite sluggish and has never been swift enough to agitate the market. Sometimes, even strategically located parcels of land for sale in QLD stay on listings for many months. In other words, there’s no reason to be too worked up about buying. The only thing you can achieve by rushing is failure to choose the property that suits your needs and preference.
All land must be priced equally because it’s empty.
Anyone still believing this lie should take advice from a qualified land expert such as Lion Land Marketing. While land is certainly less costly than a property with a building on it, that doesn’t mean the price should be the same across the board. There are other factors, apart from basic land features, that affect land value. For instance, lands in well-developed areas are definitely pricier than those in the suburb.
It takes many years before you can see a significant increase in land value.
One of the reasons you’ve decided to invest in land is because you’ve learned that land is one of the very few types of property that appreciate in value. The problem is you are worried that you might have to wait many years before you can see a significant rise in the value of your land. Truth is, it is not always the case. The rate by which land appreciates still depends on a variety of factors, of which the most influential is the development of its location. If you bought land at the outskirts of Brisbane, for instance, you can expect its value to increase by up to over 20 per cent per year due to the city’s rapid development.
Be wise when evaluating information regarding land purchase and sale. Make sure you know how to distinguish a fact from myth so you can avoid basing your decision on false assumptions. Having a realtor to help you make decisions can increase your chance of finding the perfect plot.