When looking to get into real estate investment, raw land makes an attractive choice for it gives you greater latitude in its usage. Depending on the location, you can opt to build a home, a block of flats, or use it for agriculture.
Before you take your pick from the various pieces of land for sale in Tarneit, take a moment to consider a few critical issues.
1. Do you have access to water?
Since the raw land has never been settled on, do not make assumptions about the availability of the basic utilities, such as electricity, sewer and, most importantly, water. You need to be sure you have a proven source of water before committing to buying a property.
Other than being sure that property has a reliable water supply, you need to know how to dispose of the waste water. In the absence of a sewer line, you will need to construct a septic system. If this is the case, you need to find out if you can install one without compromising the water supply.
2. Do you have unrestricted access?
There are a surprisingly large number of landlocked properties, and buyers often trip over themselves to acquire them. You are likely to fall victim if you are on the hunt for a bargain property and don’t make a site visit. It is important that you have a clear view of the boundary lines.
Be careful about land that needs easement as it might prove to be tricky. It might leave you at the mercy of your neighbour if you don’t have it in the form a legally binding document.
You would have to pass through the neighbouring properties to get to your property. Be sure to visit the land in person and the local municipality to have a look at the land maps.
While buying raw land offers you greater latitude over its usage, you need to approach the process with a bit of caution. You need to avoid common oversights that can lead you to have a bad experience.