On this page you will find information about:
Things to consider The process of buying land Cooling off rights If something goes wrong Things to consider
If you’re thinking about buying a block of land there are a number of things you should take into consideration:
- size and type of home you want to build
- price you can afford to pay for the land while taking into consideration the cost of building a property
- availability and cost of connecting and maintaining services to the land - eg electricity, gas, water and sewerage
- building and zoning regulations that apply
- slope of the land (the steeper it is the more expensive it is likely to be to build on it)
- soil stability
- whether there are any watercourses, dams or creeks on or near the block
- flood restrictions that could affect your finance and insurance of the property
- bushfire regulations
- easements registered on the land that could affect how you use it
- site access for heavy machinery that may be used during construction - eg bulldozers, bobcats
- quality of the views
- exact boundaries of the block - these can be checked and pegged out by a surveyor
- regulated or significant trees on the property
- future developments planned for the area - eg near a proposed housing development.
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The process of buying land
Buying land is similar to buying a home and many of the same considerations apply. You will need to:
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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.
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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 (Consumer Affairs) can provide information and advice.
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More information
On this site
Contract terms and conditions
Engaging professionals
How properties are bought and sold
Inspecting a property
Home buying process
Financial considerations when building
Other websites
HomeStart Finance
Downloads
First home buyers guide (PDF 1.4MB)
Advertising and property prices (PDF 63KB)
For an alternative version of these documents contact Consumer and Business Services (Consumer Affairs).