Ways to buy a home

Residential land for sale

Things to consider

If you are thinking about buying a block of land and planning to build a home some things to consider include:

  • do you want to buy land and build to a custom design or a house and land package
  • how much you can afford to pay - this will depend on the location, size and type of home you want to build
  • the location - are you close to work, schools and other facilities - eg parks, public transport
  • future developments planned for the area
  • infrastructure - are there pre-laid services and can you get connected to all the utilities - eg gas, that you would need
  • zoning regulations - you can check these with your local council
  • development approvals - what can and can't be built on the land
  • are there significant trees that can't be cut down
  • garden and yard - do you want a water-wise garden, big garden or no garden?
  • the land itself - does it slope, how good is the soil stability, is the site contaminated or does it require special treatments, are there waterways, creeks or dams on the property
  • are there commercial or industrial developments nearby that could affect the value of the property or your quality of life
  • site access - is there access for heavy machinery and construction equipment - eg bulldozers, bobcats, trucks
  • flood restrictions - this could affect the price and insurance of the property
  • bushfire regulations - is it in a bushfire prone area and what restrictions apply
  • boundaries - you can engage the services of a surveyor to map out the exact boundaries of the land
  • easements - these can affect where and what you can build.

Try to look at a variety of blocks of land for sale and critically evaluate each one.

Land releases

The Renewal SA is a Government agency that facilitates residential developments through joint partnerships with the private sector and local councils.

Current residential developments with land and dwellings for sale include:

Future residential development projects include:

These residential developments supplement those already available on the private market.

The process of buying land

Buying land is similar to buying a home and many of the same considerations apply. You will need to:

Cooling off rights

If you purchase a block of land you're entitled to a cooling off period, unless you bought it at, or on the day of, an auction.

The cooling off period is usually two business days from either the date you signed the contract of sale or received a copy of the vendor's statement (whichever is later). This gives you time to change your mind and withdraw from the purchase without legal repercussions.

If you do decide to withdraw within the cooling off period you must complete and sign a cooling-off notice. You must deliver this to the vendor or their agent by:

  • registered post
  • fax
  • in person.

If something goes wrong

If you want to withdraw from the purchase after the cooling off period has expired there can be legal repercussions - eg you may have to pay compensation to the vendor, the deposit will be forfeited.

It is strongly recommended that you seek independent, professional legal advice before you decide to withdraw.

Similarly, if the vendor decides to withdraw from the sale they will also face legal repercussions.

If you have any questions or concerns about the vendor, their representative or the buying process, Consumer and Business Services can provide information and advice.


Related information

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Page last updated 21 September 2016

Provided by:
Department for Communities and Social Inclusion
URL:
http://www.sa.gov.au/topics/housing/affordable-houses-to-buy/buying-property/residential-land-for-sale
Last Updated:
21/09/16
Printed on:
24/11/17
Copyright statement:
SA.GOV.AU is licensed under a Creative Commons Attribution 3.0 Australia Licence. © Copyright 2016