Buying A Block Of Land

08 Jun 2015| Posted by: Geoff Baldwin

You may decide to buy a block of land to satisfy your desire to build a new home; or, as the first step towards home ownership if your cash or income is insufficient to purchase a home right away. Many parents are encouraging their children to invest in a block of land as soon as they gain employment; firstly, to built up an asset for their future and secondly, as a means of forced monthly savings by way of keeping up the mortgage repayments. The selection of a suitable building site should not be decided on price alone. Other factors to carefully consider are:- The location and quality of surrounding houses. The shape and size of the lot, not to mention the slope and the soil type. Are there any easements or other impediments to building on the land? Are the boundary survey pegs in place? Check with your local RE/MAX agent for information on the range of vacant land available in Perth suburbs.