Before you purchase a residential property, you should be aware of some matters that could affect that property and the restrictions or liabilities on you after your buy it.6 Things To Concern Before Buying A Residential Property Click To Tweet
Here are 6 of the things that we advice you to watch out for:
1. Urban Living
Are you planning to move to a city?
High population density areas are attractive due to abundance of entertainment areas and bring you a different life, however, these activities often create traffic problem as well as making noises. So, make sure which type of living style that you expected before you deciding to buy a house.
2. Fire or Natural Disaster Risk
Before you buying a house, make sure you have do the research of whether this property has experienced fire or flood disaster before, as some of the properties have its own risk of flood and fire due to its location. Besides, you should start getting yourself to study on the property insurance, even that property have never experienced any disaster before, but it cannot predict whether it will happened in future. So make sure you have understand the property insurance well before buying any property. (To read more about property insurance, click here)
3. Rural Living
If you’re prefer the property in rural zone, here is the following things that you should put into your considerations;
- Is this living style is compatible with your expectations? Do note that farming can making some noises and even some odor that you can’t accepted.
- If there is a native vegetation infront of the property, will you gonna remove it? Well, there are existing regulations which could affect your ability to remove it on private property.
- Can you restructure the building or build a new one?
- Is there have any earth resource activity such as mining in the area? Don’t think its cool for being mining neighbor, you should consider that the explosion activity will affect your living.
- Has previous land had use affected the soil or groundwater? You should consider that whether the past activites may have caused pollution at the site and whether this may against you from doing certain things to or on the land in the future.
- Do you know the exact boundary of the property? You should compare the measurement that shown on the title document with building and actual fences on the property. If you have concerns about this, you can seek for your lawyer to assist you on this matter.
4. Planning Controls
Can you change how the property is used, or the buildings on it?
All land is subject to a planning scheme which run by the local council. How the property is zoned and any overlays that may apply, will determine how the land can be used. This may restrict such things as whether you can build a property on vacant land or how you can transform or develop the land.
You may seek for advice with The local council for the details of any other restrictions imposed, such as fire safety design and design guidelines. Besides, another one thing that may also be restrictions, known as encumbrances which is on the property’s title, that can against you from develop the property.
5. Safety Issues
Before buying a house, do investigate whether this building is safe to live in. You may hire a professional building inspector to evaluate the whole property for electrical safety, illegal building work, termites, presence of asbestos or other potential hazards may harm you.
6. Building Permits
You should know that is there any building or retaining walls on the property have been transformed or do you plan to transform this building. Before you doing this, do note that there are laws and regulations may apply on how building and retaining walls are constructed which you will need to look in to this matter to ensure any completed or proposed building work is approved by the local council.
In addition, you need to check with the vendor whether there is any owner-builder insurance or builder’s warranty has cover the drawback in the work done to the property. And you also need to check whether the property have working connections for electricity, water, gas, telephone line and etc. This is important in rural areas where some services are not available.
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