New land developments are becoming popular. Many homebuyers want larger lots and bigger properties, along with the benefits of a new home.
Tips for choosing new land development,
Despite interest rates being at their highest in twelve years, housing demand continues to rise. In fact, PropTrack data indicates that searches in the ‘buy’ section on realestate.com.au are now 7% higher compared to September 2023.
As housing supply continues to decline, many homebuyers are looking towards the new homes market for more options. New estates and land developments offer a different lifestyle than established suburbs.
For example, they often provide large areas of open space, multiple sports fields, and nearby shopping plazas for convenience. Furthermore, new developments typically bring essential infrastructure improvements, such as new train stations and enhanced public transport options.
When buying in a new area, it is vital to conduct thorough research on the proposed development and its environment. Therefore, here are several tips to assist you in making an informed decision.
Research the developer thoroughly.
Visit the developer’s website and review the ‘About’ section carefully. Consider asking these important questions:
- How long has the developer been operating?
- What other projects have they completed, and what have the results been?
- What is the company’s core philosophy?
- Do they provide incentives for eco-friendly homes?
- How do they contribute to building a community?}
Focus closely on the developer’s design guidelines, as they will influence your new surroundings.
Study the master plan
To understand what the future environment will be like and if it meets your needs, studying the master plan is essential. Here are some key factors to consider:
- What type of lifestyle is being offered?
- Will the estate feature high, low, or medium-density housing, or a combination?
- How much medium-density housing is planned, and where will it be located?
- How much land is allocated for parks, walking and cycling paths, sports fields, waterways, and wildlife corridors?
- Will there be community amenities like a leisure center or BBQ area?
- Is there any provision for teenagers?
- Is there adequate parking in high-density areas?
Visit development sites
Pick up the glossy brochures available at the sales center and visit the display homes to gather information. However, after that, explore the area on your own to get a comprehensive understanding.
Engage with people who have already moved in to learn about their experiences. Remember, developments occur in stages, often taking years to complete.
As a result, some homes may be occupied while other blocks are just beginning to be released.
Evaluate the quality of existing housing and the streetscapes in the area. Additionally, ask residents if they are generally satisfied with their living experience so far.
Furthermore, inquire about any challenges they may have faced during their time there.
Contact the local Council
Request detailed information about everything, including rates, family services, and long-term planning for the area. It’s important to gather this data.
Additionally, find out how many new estates are currently being developed in the locality. Understanding this can provide valuable insights.
Moreover, inquire about the expected future population in the area. This information can help you assess the growth potential and community dynamics.
Read the local papers
This is an excellent way to discover what residents in the broader area find enjoyable, concerning, or frustrating.
Visit the nearest library
Libraries serve as a valuable storehouse of information and resources for the community. Furthermore, the modern library is a technology-rich facility designed for learners.
It also functions as a meeting place for various activities, catering to people of all ages and backgrounds.
If there isn’t a library nearby, consider inquiring about the availability of a mobile library service.
This could provide essential access to resources for those in the community without a local library.
Research future transport and infrastructure plans
Convenience is a crucial factor to consider when purchasing a home in a new area.
You may discover wonderful amenities that keep your family entertained. However, if commuting to work is difficult, it could become a deal breaker.
Therefore, it’s essential to assess the transport infrastructure in the area thoroughly. Additionally, if the infrastructure is lacking, investigate what plans are in place for future improvements.
- How well-connected will your new home be?
- If it’s 30 or 40 kilometers from the city center, what transport options are currently available and planned for the future?
- How easily can you access train stations and bus stops in the area?
- Is there enough parking available at the local train station?
- What is the frequency of public transport services in this region?
- How long will your daily commute to work take?
- What is the distance to major roads and highways?
State authorities have established long-term plans to manage urban renewal and growth. Reviewing these plans will help you understand key concerns and potential future developments.
