The Edinburgh Realty eNewsletter
Issue #99 | July 2021Archive
Six top tips: Things to consider when purchasing a section
Sections are on the up right now, with new areas opening up and recent tax changes favouring sections and new builds. We have section listings appearing in Mosgiel, the greater Taieri area, the Peninsula and Bannockburn - that might just be the ticket to owning your own property. Whether creating a warm, modern home for your family or for others as an investment, here are our six top tips for what to think about when buying a section.
1. Start a spreadsheet. Work out all costs involved in acquiring and developing the land, along with all possibilities and a timeline, then stick within your budget. The following tips help with items on the cost side.
2. Get digging. Check carefully all available reports - LIM and Certificate of Title for example. Think about a geotechnical assessment, so you know for certain what’s underfoot and how it can be worked with. Find out if there are any covenants you’ll need to consider when making your plans.
3. All part of the service. Look at the services - power, water, sewerage - that are available for the property or that would need to arranged.
4. Straight to the point. Talking to an expert early on can save you time and money. Have a chat with an architect and/or an experienced builder about getting your ideas off the ground.
5. History matters. Check what the land was used for in the past. This can alert you to potential hazards associated with the site. It can also give you creative ideas later for landscaping or interior design - planting fruit trees in the garden of a former orchard for example.
6. Get the lie of the land. Flatter or more gently sloping sections are usually friendlier on the pocket when it comes time to build. A steeply sloping site is likely to cost more to build on due to the special engineering and extra earthworks required, but often worth it for that special view, design or aspect.