Land For sale

Waterford’s Land for Sale

Waterford pairs natural beauty with an unmatched level of convenience – with all that you require within one master-planned community and the established suburbs of Maitland, Newcastle and Cessnock close by.

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Is it Hard to Buy Land and Build a House?

While in the past it was typically both expensive and time consuming to buy and build, Waterford makes this process as easy and cost-effective as possible. Our sales team can help you take the first step of purchasing the land. If you need help selecting your new home, just pay a visit to Waterford’s display village; our builders can provide you with more information on their available homes, as well as providing information on the projected costs of certain add-ons. Once you finalise your plans, all costs are laid out upfront in two separate contracts.

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How Does Buying Land and Building a House Work?

The 7 Steps in the Land Purchase Process

From searching for the perfect block of land all the way through to picking up the keys, here are the main steps toward buying land. At Waterford, we match buyers with land to fit their lifestyle—all in one straightforward process.

1. Decide on your requirements
There are many types of land blocks out there, so it’s a good idea to determine what you’re looking for in a block. Do you need to be near amenities such as education, shops and parks? What are your non-negotiables? By taking the time to draw up a list of inclusions, you can make your search that much smoother.

2. Set your budget
It’s important to set your budget before you start searching for your perfect block of land. Financial advisors and mortgage brokers will also make this step in the process much easier, helping you apply for pre-approval and any government grants and exemptions.

3. Know what to look for
There are a few things you’ll want to consider when buying land—cheaper doesn’t always mean “better”, nor does it mean it’s right for you. Take a look at the land size and shape, its slope, and any trees or debris you’ll need to pay to remove before commencing the build. Consider its distance from major roads and public transport: many people choose to buy into a master-planned community so this is all taken care of. In fact, you can check out Waterford’s masterplan here.

4. Select a home design
Land for sale in a master-planned community has the benefit of being customisable to your tastes, with all of our builders vetted for quality. You’ll be able to consult on aspects like colour palettes, interior fittings and fixtures, and all the finishing touches to make your new house feel like a home.

5. Sign on the dotted line
It’s a good idea to speak to a legal professional and ensure that the paperwork (including the building contract and final contract plans) is exactly as it’s meant to be. Once your contracts are signed, it’s time to pay your deposit and send your documents to your lender.

6. Commence construction
Once your new block has been titled and soil testing is completed, construction work can begin! Generally, this is broken down into the steps of: pouring the slab, building the frame, lock-up, fixing, and finishing. Your builder will keep you updated throughout every step of this process.

7. Attend the final settlement and move in!
Before you sign off, get the keys and pay the final settlement, conduct the practical completion inspection to make sure everything is in order. Then, you can book your move-in day and set up your utilities—and focus on settling into your new life!

Land for Sale FAQs

Buying land can come with many questions—and we’re here to answer them. Here are some of our frequently asked questions when it comes to buying land.

Is buying land a good investment?
This depends on the average value of other properties nearby, and how close it is to essential infrastructure. Many people choose to invest in a home at Waterford for this reason; being a master-planned community, it is highly liveable and offers nearby amenities at an affordable price, securing its value as an investment.

How long after buying land do you have to build?
There’s no single set limit, but this will depend on the location of the block. If you buy in a master-planned community or rural area, for example, there may be a certain timeframe within which you must build. It’s a good idea to check with local authorities or sales consultants in your master-planned community.

Should I buy land or an established house?
Is buying land better than buying an established house? What’s better – buying land, or an apartment? That depends on your circumstances, and you should weigh up the pros and cons to decide what best fits your lifestyle. If you want to move in right away and have a location in mind where land is hard to come by, an established house or turnkey home may be better suited to you. If you don’t want to adapt to the previous owner’s design and don’t mind the wait and cost, buying land and building is a great option.

What loan do you need to buy land?
Unless you’ve got the cash upfront to fund your land and build, you’re going to need a loan to purchase land. More specifically, you will need to apply for a land loan as well as a construction loan. The construction loan covers your build in the short term, and can be paid over the course of a year. Many loan providers only require you to pay interest during construction rather than the complete amount. At the conclusion of the build, this turns into a standard mortgage.

Do you get a First Home Buyers Grant buying land?
If you are buying land and building a home, you may be eligible for the NSW government’s First Home Owner Grant. To view the eligibility criteria and to apply, visit the Revenue NSW website. To receive the $10,000 cash grant, you must be building a property on your land worth under $750,000.

What deposit do I need to buy land?
The deposit you need in order to buy land will depend on your lender, but generally the deposit is at least 5%. At Waterford, your land is secured with a 10% holding deposit. This is paid in two instalments (5% on exchange of contracts and 5% on settlement). Deposits below 20% generally require you to pay Lenders Mortgage Insurance and any upfront fees such as legal consulting, stamp duty, registration fees.