Buying land to build How a REIWA buyer’s agent can help

Building property is an appealing prospect to many West Aussies. The chance to create a home or development from scratch can be exciting for both home buyers and investors alike - but it can also be an overwhelming challenge that you might like to seek assistance with.

A REIWA buyer's agent can help you. By utilising their property expertise, you can make the building process much easier.

How will a buyer's agent help?

Deciding on a location and a block of land is generally the first step in building. The land you buy can have huge implications for the kind of house or development you build, so it's imperative that due diligence is carried out to prevent any nasty surprises.

Emma Everett, Chairperson of REIWA's Buyer's Agent Network, said doing the level of research that is required in purchasing a block of land takes a lot of time.

"Most investors and home buyers are already busy with work and family commitments, so if they buy on their own they end up taking shortcuts in their property research which can lead to disappointment at the end of the project," Ms Everett said.

A buyer's agent can help by;

• organising relevant inspections (e.g. building, soil, survey).
• working with town planners and building specialists to determine the development potential and building costs.
• checking the level of stock in the area to assess how many properties you will compete with at completion for sale/rent (This is especially important for developers who will be relying on selling multiple units before and/or after construction).
• research the re-sale prices achievable for your finished product, as well as the style and specifications preferred by potential buyers.
• check previous building applications at the property to see if there is precedent which might harm your building application (permission for this must be negotiated with the owner as part of the Offer & Acceptance).

"Lots of information is available out there - some paid, some free - but most buyers and investors who aren't trained in this field 'don't know what they don't know', so they might not think to look or ask for the information they need," Ms Everett said.

"When it comes to town planning changes and zoning changes, it's almost impossible for buyers to keep up with all the changes on their own.

"It's expensive to hire a town planner every time you have a question. Our in-house town planner keeps up to date with current state and local policies and keeps the buyer's agents informed of any changes," Ms Everett said.