Owning a piece of land in Queensland entails a huge responsibility, and that’s not even the first thing you should worry about. Don’t forget the stressful buying process you have to go through before you can secure land ownership. Your best option is to enlist the service of a realtor like Lion Land Marketing that specialises in vacant lots, but it also pays to know your way around buying land for sale in Brisbane. Here are some of the things you should keep in mind.
Just because It’s Vacant Doesn’t Mean You Can Skip Inspection
It’s a common misconception in the real estate business that exhaustive inspection is only necessary if there’s a functional structure on a property. Truth is even a vacant land for sale in Brisbane must be thoroughly checked before purchase. If anything, a more sophisticated inspection method is needed to ensure that the land is safe to use. Check out some of the major aspects to cover during the inspection.
How far is the land from the nearest road? Can a tractor travel on the main road leading to the land? Is there a need to acquire an easement to access the land? All of these must be taken into account.
Make sure that the land is level or inclined enough for its intended use. Find out if there are low-lying areas the must be filled or lumps that must be cut. Don’t rely on photos you see online as most of them only show the best parts.
How high or low is the land from the sea level. You don’t want a property that gets flooded during the rainy season.
Hire a surveyor to retrace the land’s boundary. Make sure that it’s free from encroachments.
Are you planning to turn this land into a farm? In that case, make sure it’s tillable and productive. If your purpose is land development, there’s a different set of soil quality requirements to meet.
Stick to Your Budget
While there are fewer lands listed for sale than houses, the options can still be staggering. Just when you thought you’ve seen them all, new listings with better qualities would suddenly pop up. This makes choosing more difficult. If you have a specific budget, new listings shouldn’t get in your way. Especially if those parcels cost more than you can afford or exceed the mortgage you prequalify for, don’t entertain the idea of going beyond your budget.
Not Hiring a Realtor Can Cost You More
Is this your first time buying a lot in Brisbane? Then hiring a real estate agent is the wisest decision you can make throughout the process. It may seem impractical because you have to pay commission and other professional fees, but considering how quickly you can find the perfect property and how much savings you can make with the help of a real estate agent, you’ll realise that it’s actually the opposite. They can even do most of the paperwork, so you won’t have to postpone personal affairs.