The first phase in constructing a new home or an entire subdivision lies in the quality of available land. This has to be the most meticulous because not only do builders need to follow zoning regulations but they must also consider the suitability of a site.
With this in mind, choosing a development-ready site takes careful planning and assessment because builders can’t afford to build on just about any parcel of land. There are numerous factors to consider and it takes a long time before a builder settles for the best of all possible sites. Here’s an overview of what it takes to find land that’s perfect for a new residential construction:
Table of Contents
1. Look at market factors
The site selection process should first consider the market where the piece of land is situated. Steady population growth and the influx of investors are good indicators that the market itself is healthy and, therefore, a good buy.
However, property values in such a market are expected to be higher than anywhere else, so builder may have to prepare more resources to purchase land. This is where extensive market analysis comes in to help identify localities where land is relatively cheaper despite rising values.
2. Consider risk factors
Price isn’t the only determiner of variability. You also need to make sure the land is generally safe for residents to settle in. This would mean ensuring that the site isn’t located near an identified floodplain and fault.
You must also consider if the land itself is within range of cyclones. The level of risk posed by forest fires and landslides should also be assessed. With this, getting a land surveyor is essential to ensure the development is generally safe during and after construction.
3. Check for impediments
The fact that the land for residential development is safe from hazards isn’t enough to tell the builder that it’s construction-ready. If anything, the land could be a section of a historical battlefield or an archaeological site. Diverse wildlife and rare plant life can be found nearby which could complicate the project’s environmental compliance.
Apart from that, there might be cables, sewage systems, and dry oil wells that could delay or outright cause the cancellation of excavation activities. To be sure, builders may need the help of the local government in locating these impediments and coming up with workable solutions or adjustments to the project.
4. Opt for sites in master-planned communities
People who prefer constructing a new home from the ground up may want to consider buying lots that are ready for development. In Australia, there are many options for titled land Perth, Sydney, and Adelaide residents can check out. These options allow them to get started on their home construction.
Many of these titled sites are found in master planned communities which already have amenities ready to be used by residents. Where selecting sites for a new construction is difficult, homeowners could instead buy lots that provide easy access to community features. Processing the paperwork for construction is made easier through this option because it offers less risk for legal disputes and allows the construction to proceed right away.
Endnote
Selecting land for a residential project requires careful research and networking to identify the best possible site for the best possible living space.
