What You Need to Know Before Buying a Residential Property
Before purchasing a home, be aware of various issues that may affect the property and impose restrictions or obligations. This checklist will help you identify these issues. For detailed advice, you may need to seek professional assistance. Visit the Consumer Affairs Victoria website for more information.
Urban Living
- Inner City: High-density areas offer entertainment and services but may have increased traffic, noise, and odours.
- Owners Corporation: Check if the property is part of a subdivision with common property and associated fees and rules.
Growth Areas
- Infrastructure Contribution: Investigate if you’ll need to pay a growth areas infrastructure contribution.
Flood and Fire Risk
- Flooding or Bushfire: Investigate the risks and their implications for land management, buildings, and insurance.
Rural Properties
- Rural Zone: Consider surrounding land use, native vegetation regulations, and obligations to manage weeds and pests.
- New Dwellings: Check for crown land adjacency, water frontage, and any related licences.
- Mining Activity: Investigate any mining, exploration, or resource activity in the area.
Soil and Groundwater Contamination
- Previous Land Use: Assess past activities that may have caused contamination and their impact on future use.
Land Boundaries
- Exact Boundary: Compare title document measurements with actual property boundaries.
Planning Controls
- Property Use: Check local council zoning and overlays for restrictions on land use and development.
- Planning Permits: Investigate proposed or granted planning permits nearby.
Safety
- Building Safety: Professional inspections can assess electrical safety, illegal building work, pool/spa fencing, asbestos, termites, and other hazards.
Building Permits
- Alterations and Permits: Check for required permits for any alterations or new building work.
- Insurance: Verify any insurance covering recent building or renovation works.
Utilities and Essential Services
- Connections: Ensure the property has working connections for essential services like water, sewerage, electricity, gas, telephone, and internet.
Buyers’ Rights
- Know Your Rights: Understand the contract of sale, section 32 statement, and rules about private sales and auctions. Consult a lawyer or conveyancer for help.
