Vacant land can be your real estate victory
Investing in a plot of land can be many things. Daunting, exciting, a learning curve and most importantly - a deeply personal experience filled with challenges and wins. With so many new buyers entering the property market each year, we look at why a large percentage are choosing to buy vacant land instead of pre-existing properties.
Forward financial thinking: dig deep to strike gold
One of the most obvious advantages of buying vacant land is the price tag. Considerably lower than built houses, this offers you the opportunity to save on costs that you can put forward towards construction. You will be saving on additional expenses such as transfer and municipality costs. While you may have to put a bigger deposit down on vacant land, your interest levels will ultimately be lower as you repay your loan over the years.
Location potential: identify the hot areas now
Investing in vacant land in areas which are poised for further development and new infrastructure is a savvy move. As the area grows in significance and popularity, property prices appreciate and your land value will increase. You can end up living in the next hot suburb, with sought-after homes, surrounded by the best amenities. Consult with your expert property practitioner about vacant land options in the areas you are most interested in and be open to valuable insight on where the best plots are for your lifestyle and projected budget.
Starting on a level playing field: you call the construction shots
If you are interested in buying a vacant plot of land, chances are you already have a very specific style of house in mind that you either want to create or can’t find elsewhere. Enjoy the freedom of designing a property that is uniquely your own. It is a process that requires patience but is ultimately the most rewarding gift. A special asset is having a home with the specifications and details you’ve always wanted. Carefully map out your budget and leave room for unexpected costs that often arise. Vet the professionals you will be working with and try out different contractors, architects and various service providers until you find the right fit for the project.
Do your research on the site: know what you’re building your home on
Even though you will be building your own property and will not have to fix previous construction errors, it is still wise to have the land assessed for suitability. It is advisable to conduct a land survey so you and your construction team are aware of the topography and geology of the land. Municipal services such as water and electricity supply under the zoning laws also apply. Once you’ve ticked these essential admin tasks off your list, it’s time for the fun stuff.
Design with practicality in mind: look to trending topics
Sustainability, eco-friendly, alternative energy. These buzzwords are not just for marketing purposes. New homes and developments are leaning towards green building initiatives more than ever before. You have the opportunity to install environmentally friendly features all over your property and enjoy the long-term affordability of your reduced utility bills while helping the planet.
Find your plot with us
REALGLEN Properties has a range of vacant land options for you to choose from. Simply contact us to discuss different areas and what you are looking for. We can’t wait to be a part of your dream from the ground up!