Some of things you should consider when buying that farm or rural block:
- Boundaries — are the boundaries easily identified and are they fully fenced? If not then it is imperative that the boundary to the block be identified correctly. The one true way to do this is to obtain a survey certificate.
- Access — Does the land have a legal access? Is the access from a main road, a crown road or via an easement creating a right of way.
- Electricity supply — is this connected? If not, then connection costs should be considered when calculating funds required.
- Flood — Is the land flood affected and how will this impact if you intend to build?
- Rates — for farmland – additional rates are paid being Local Land Services (cane farms being exempt). Unlike Council rates, these rates cover the period from 1 January to 31 December each year.
- With vacant land — can a dwelling be constructed? This is one of the most important questions to be asked Does the land have a dwelling entitlement. The best way to find this out is to obtain a dwelling entitlement search from the local Council.
- Water — where does the water come from? Is there a water licence required to gain access to water?
- On-site Sewerage Management System (OSMS) or (Septic System) — Does it comply with Council regulations? Council conduct random inspections and if there is work to be carried out then the owner of the property is responsible to rectify the OSMS. It is always recommended that a purchaser obtain an inspection by Council prior to purchasing.
The above points are only some of the matters to be considered when purchasing the farm or rural block.