Are you looking to buy a block of land as an investment or thinking of building your dream home? To make things easier for you I have some helpful tips to consider before you make one of your biggest life purchases.
1 What property buyers should consider is that land appreciates in value while the value of actual home structure depreciates. Therefore buyers should choose a block that will offer the greatest potential for capital growth. When considering the long term capital growth potential of a building block, home buyers should take into account the scarcity factor of the block.
2 Ultimately it is this location factor which will determine the longer term capital growth of the block. If the location of block is in an area where developers can easily replicate the housing development in a nearby area for the same cost price, then the potential for capital growth is limited. However, if the lot is near a river, the ocean and a major urban centre with good social infrastructure with limited building land, then the potential for capital growth is much higher.
3 The specific location of a block in new housing development is very important because blocks that are located on a quiet street or opposite a park or school will appreciate in value at a much greater rate.
4 The quality of the housing estate is also important. Home Buyers now want to live in estates which are planned to a very high quality with park lands, walkways and an impressive entrance.
5 Branding is therefore very important when buying a block of land and an estate which has an exclusive image will encourage home buyers to pay premium property prices over the longer term.
6 The size of the block is also important since blocks sizes are now getting smaller and you should determine the value of the block by comparing the square metre size of similar located blocks in similar developments.
7 If you are a first home buyer, consider buying a lot in a well located estate that offers additional benefits such as fencing packages. These benefits can prove important if your financial situation changes during the construction of the home.
8 Avoid buying a block with a narrow frontage or a block that is slopping as these types of blocks are penalised in price when resold.
If you are looking for Land – I have numerous blocks available throughout the Perth metropolitan area and beyond.
I am also working on a fantastic estate called St Anthony’s in Secret Harbour.
Blocks to chose from on the new extension Lennox Drive, Secret Harbour.
Block sizes are 399-700 sqm All have 13-17+ metre frontages
Close walking distance to the big park on Lennox Drive.
Secret Harbour Provides:
Secret Harbour is on the Perth side of Mandurah and offers easy access to Perth, plus access to the Kwinana Freeway extension making it ideal for commuters.
Discover for yourself the benefits of Secret Harbour!
Just 15 minutes from Mandurah’s vibrant town centre and marina.
Secret Harbour provides outstanding value and wonderful lifestyle opportunities, including great walks, fishing, boating and beach access. Close to schools, hospital, train line, beach.
Contact me for more information