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The difference between buying property and buying land

Category General News

If you build on vacant land you get to construct your ideal home. Life is all about compromise, however, with this option, it enables the individual to have less compromise in terms of the abode they will eventually live in. No one ever finds their ideal house first time around and apart of the process is making modifications. Save the hassle and build from scratch.  

Two negative attributes when buying land

Finance from the bank will be near impossible

A huge negative aspect about opting to buy land to build is the fact that obtaining finance will be tricky. Many banks who would usually provide finance for property or houses in suburbs will not do the same from land. Financial advisers consider it to be highly risky and usually won’t want to take this kind of risk. This is an aspect that needs to be taken into serious consideration if you don’t already have adequate funds for the said land. 

Popular locations will have a scarcity of available land

If you want to buy land in a more built up popular suburb there is a good chance that there won’t be any available. Popular suburbs are generally densely populated so it's hard to obtain vacant land or that particular land is generally extremely expensive. 

Two positive attributes when buying residential property

You have more support

A major factor with regards to buying an existing home to buying land has a lot to do with the support you will get from highly trained real estate agents or brokers. They are there to assist in any way possible with the final process. 

Availability of homes in popular neighbourhoods

Opting to buy an existing property instead of buying land to build means that you can find a suitable house in your dream location. Everyone wants to be near family and friends and sometimes this isn’t possible with regards to buying land to build on. 

So now that you have some solid advice, it would seem it's still a hard decision to make. Why not have leading property company Century 21 help you to make the best possible choice. Within the Centurion area, they have the possibility of buying vacant land at the Blue Valley Golf Estate. Or one can opt to buy existing houses in various worthwhile locations around Centurion South. They have also just opened up a branch in this area, which will enable your process to your new home in Centurion South pain-free. 

Author: Century 21 South Africa

Submitted 11 May 18 / Views 377

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