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Buying a house is a big decision. We designed Landchecker to empower you with the information you need to make an informed decision, and avoid buying a property lemon. What do you need to consider before making an offer?
Here are ten things to ask before signing the contract
1. What is the zoning in the area?
The property you are looking at might be in a neighbourhood residential zone, but over the back fence the zoning may be general residential and encouraging development.
Key in an address or suburb on Landchecker and find everything from planning applications, zoning and overlays to floodways, cultural heritage indications and even burglary statistics in one place. It’s all the information you need to help make an informed choice and avoid making a costly mistake.
2. Who else is interested in the house I’m keen on?
Researching and knowing the market is key, says Sam Lally, a buyers’ advocate with Buyers Advocate Pty Ltd. But make sure you compare like with like. That includes knowing your competition. “Ask the agent: of the top three contenders, what is their profile?” Sam says. “Are they first-home buyers, downsizers or investors? Downsizers have probably just sold a large family home and are cashed up, investors buy with their head, not their heart, while the first-home buyers will be cautious.”
3. How strong is the competition?
Pin the agent down to a straight answer, Lally says. “An agent saying: ‘We’re getting another offer this afternoon’ is different to them saying ‘I have another offer’. A lot of people get pressured by the thought of missing out, hurry the offer and make mistakes, such as not getting a building inspection done.”
4. How long has the property been on the market?
Some sales websites give the length of time the home has been listed, but that may not tell the whole story. The vendor may have changed agents or re-listed after an earlier, unsuccessful campaign. Search the address and look for more information. If the home went to auction and failed to sell, ask for the passed-in figure and whether the bid was from a genuine buyer or was a vendor bid.
5. I am planning to knock down and rebuild. How do I find out about heritage overlays or anything else that might affect my ability to develop?
Landchecker has information on heritage and all other overlays, as well as details on all residential, commercial and industrial planning zones. It also provides details about planning permits that have been approved, rejected or are pending for your desired address.
6. Is the house in a Cultural Heritage Sensitivity zone?
Cultural Heritage Sensitivity zones are areas registered as having, or being likely to have, Aboriginal cultural significance. Checking the cultural heritage indications of a site is pertinent if you are buying an older home to knock down and rebuild because if the property is located in one of these areas you will likely be required to get an approved Cultural Heritage Management Plan or cultural heritage permit before any development can begin. You may have to get a consultant to assess the site and, if anything is found, go to a full excavation.
7. Should I get a building inspection?
A building inspection is essential but ask what they do and don’t inspect. Inspectors cannot assess things that are hidden, such as footings or services in the walls. They generally don’t assess pools, appliances and such things as CCTV cameras, fire and smoke detectors.
8. Is this a termite area?
Find out if the property you are interested in is in a termite area and, if so, have the building inspected by a pest expert to see whether up-to-date termite management is in place.
9. Do the garage and granny flat have council approval?
If the outbuildings do not have council approval, there is a risk of the council asking you to remove the structures. Also, make sure the building inspector checks these as well as the house.
10. What are the schools and community services like in the area?
Do as much research as you can and talk to people in the neighbourhood.
Purchase a Premium Property Report to check planning zone, restrictions, nearby planning permits, previous sale price and more.
This article was originally published by our partners RACV