quot; is a more common form of home purchase in Australia, where buying large-scale land or second-hand houses and applying to demolish old houses and rebuild townhouses is a popular form of investment and development. So what are the specific processes and advantages of buying land and building houses?
The choice of land should pay attention to some details, including the location of the land, whether the terrain is flat, size and so on; also pay attention to the distribution of underground pipelines and fire risk grade index. We should also pay attention to the attributes of land, such as land has different functional zoning (zoning), such as Mixed Use Zone,Residential Growth Zone, etc. Different land attributes will affect the density, height of real estate development, but also affect the construction materials to be used, landscape greening and other problems. Most importantly, the land attribute has a profound impact on the future value-added space of the plot. So understanding land functional zoning is essential for investors. These need to be assisted by a professional team. Aultun also suggest that your preferred & quot; has been incorporated into urban planning & quot; land, its surrounding supporting living facilities, educational resources, public transport, medical resources and so on will be more perfect.
The purchase of land is currently on the market for the purchase of land to build houses roughly divided into the following two situations:
1. purchase of separate spaces and construction: the buyer buys them and designs them by the builder. In this case, the construction of a new villa than the direct purchase of existing houses can save a lot of cost.
2.House &Land Package (house land package purchase): this real estate is usually divided into two main categories :1, the house buildings and outdoor landscapes on the plot have been designed and completed, and the buyers buy together with the land and house at the time of purchase. 2. The developer provides the buyer with a series of design plans, which the buyer himself decides or designs the style he wants, and eventually buys with the land. The advantage of this is that buyers can design according to their own preferences, whether the interior structure or building materials can meet the different needs of buyers.
The design and construction of housing after the successful transfer of land buyers, if the purchase of independent open space, self-building, need to be designed by the designer building drawings, apply for the relevant approval of the government department, builders need to help buyers to handle the relevant building approval procedures and preparation work. When it is House &Land Package, then generally speaking, the development and construction of the house you buy will give you some standard household type choice according to the land area, these units have already obtained the approval of the government, after the land delivery can start the construction, more convenient, so House &Land Package is very suitable for investors.
At this stage, it is necessary to select good quality and reputation of the builders, pay attention to the building rules requirements, choose the size of the reasonable housing width and the layout of the city space, but also with the builders in the contract to confirm the final cost and delivery time.
overseas buyers land purchase policy overseas buyers need to apply and obtain FIRB approval before buying land. FIRB overseas people are usually allowed to buy residential land to build their houses, it is normally conditional on completion within four years from the date of approval. the completion certificate needs to be submitted within 30 days after completion.
Advantages of buying land and building
1. savings on stamp duty
In Australia, buying land to build houses can save buyers a lot of stamp duty. Buyers simply pay a stamp duty corresponding to the value of the land (no stamp duty is required for the construction part), which can save owners a considerable tax on the purchase of the land compared to the stamp duty paid for the direct purchase of the existing or non-current housing (off-the-plan).
Fewer initial 2. inputs
In addition, the purchase of land for housing only requires less initial investment, and can be paid in installments, for buyers, the preparation time is more adequate. The purchase of land requires only 5%-10% of the land price as a deposit, and the buyer can also discuss the date of delivery of the land more flexibly with the seller to ensure that he has enough time to prepare the remaining funds and handle the loan matters.
3. optional
At the same time, buyers can design or choose their favorite units in accordance with the planning and building regulations, and negotiate with the builders about the construction time and price.
In Australia to buy land to build houses, the general process for land selection, purchase and construction. But there are also a lot of piecemeal attention, such as payment of deposit, payment of surplus housing, house design, application approval and so on. How to loan? Access to land and construction loans also requires the attention of buyers. Please be aware of the differences between Melbourne`s policies and regulations and other major Australian cities. Foreign investors need to understand that melbourne and china in the nature of the real estate and development cycle is very different, and the buyer market is dominated by self-housing.
Development real estate projects require localized teams to assemble planning, architectural design, engineering, marketing and finance expertise to conduct project feasibility studies. They also need to adapt their direction to market changes throughout the three-to-five-year development cycle, flexibly formulate design plans and apply for approval. A professional team with vision can quickly capture market and policy shifts, protect investment returns and avoid risks, and build teams that can develop new technologies and materials to provide cost-effective real estate that meet market needs. Combined with the above-mentioned warm development and construction team, homebuyers can live in peace and at the same time, more investors bring considerable returns.
An article published in The Australian-Central Business Circle, January-February 2020, Australian real estate AUSTRALIAN REAL ESTATE,P54-P55..
