Professionals Real Estate Land prices in the Mandurah area are currently very competitive and as a result, more families are deciding to build new homes in the area.
If you are considering buying a block of land in the Mandurah area, then you should consider the following points:
- Mandurah is a lifestyle-driven real estate market, so there is always strong demand for building blocks located near the ocean, estuary or in areas which have lifestyle facilities such as golf courses.
- Register your name with as many local real estate agents as possible who specialise in selling lots of land in the area you want to buy. A good real estate agent will immediately notify you of a suitable lot once it becomes available.
- Target estates which have improving social infrastructure such as new shopping centres, medical facilities or schools.
- Land releases in more inland areas of Mandurah such as South Yunderup and Ravenswood are relatively more affordable and should benefit from the construction of the Mandurah bypass.
- It is important to be patient and avoid buying the cheapest lot you can find. Buying a cheap block of land can prove a financial headache if it requires substantial site works. If the block is sloping or has limestone under the surface then site works may add in excess of $20,000 to the overall cost of the home. Get advice from a reputable new homebuilder before deciding to buy a block.
- If you plan to rent a home in Mandurah while your home is being build, make sure that you can secure a suitable rental property as soon as possible because the rental vacancy rate in the area is now very low.
- Many people building a new home underestimate the overall cost of building their new home and as a result do not have enough money to finish the home such as installing carpets, tiling and window fittings. Ask your new homebuilder to detail all of the costs of building a new home before deciding on a final budget.
- Ask yourself how long do you propose to live in your new home in Mandurah? Many people building a first new home, in particular, decide later to build expensive additions to their home because they do not have enough family space after children are born. It is much more cost effective to build a larger home initially rather than building home extensions. Deciding your future needs can save you money in the long term.
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