Purchasing construction land and building a house requires thorough preparation, including location check, infrastructure, and financial options to ensure a profitable and safe investment

Having one's own house is a dream of many young couples. In today's times, small family homes are popular, which often have a ground floor with a kitchen, living room, and a daily living area that opens onto a yard. This provides an ideal space for daily events and family gatherings. The upper floor is usually intended for bedrooms and bathrooms, thus ensuring privacy and comfort. However, the offer of such houses on the real estate market is limited. Therefore, many people decide to purchase construction land so that they can build a house according to their wishes and needs. They can thus ensure a functional floor plan that maximally utilizes space and allows for simpler adjustments to changes in living conditions, such as family expansion.

Before purchasing: Key information on location

Before deciding on the purchase of land, it is essential to request location information from the competent spatial planning authority. This information contains essential data on the intended use of the space, possibilities for construction, conditions, as well as the current spatial plan for that land. Also, I recommend that you check the distance of the land from essential facilities that you will frequently use, such as shopping centers, schools, hospitals, and public transportation. If you have children or plan a family, it is essential to know how far the land is from the nearest school, for example.

Important guidelines for purchasing construction land

Before purchasing the land, it is essential to check whether it is construction land or, according to the urban planning plan, located in a construction zone. It is crucial to know which part of the land is allowed for construction. For example, the land may have an area of 850 m², but only 500 m² are in the construction zone, while the remaining 350 m² are in a green area where construction is not allowed. Also, you should find out what the minimum land size prescribed by the regulations is, how much allowed construction there is, and the minimum distance of the property from adjacent parcels. All of these are key information that you need to know before embarking on this investment. Be aware of the terrain slope, as it may significantly affect construction costs. In addition, check for possibilities of drainage and soil stability. Infrastructure is also of crucial importance. Check the availability of public services such as water, electricity, gas, and internet. Landscape orientation and access to the land also play a significant role. A good orientation of the house allows for the maximum use of natural light, which may reduce the need for artificial lighting and increase energy efficiency. Proper house positioning can also help regulate indoor temperatures. Easy access to the land is not only important for bringing construction materials and equipment but also for facilitating daily life after moving in.

How to finance it?

If your savings are not enough for land purchase, consider residential financing possibilities. Before selecting a bank and a loan type, compare all conditions and financing options and assess your ability to make regular loan payments. Did you know that credit institutions usually finance the purchase of construction land, but some banks, for example, do not have a loan for terrain development in their offer? Therefore, it is essential to check all loan options with your bank. You can also use a free credit brokerage service to find the best solution for your needs. The credit institution will assess your creditworthiness, request a valuation report of the land, and make a decision on granting credit. After signing the loan agreement and registering the collateral right on the land (the mortgage might also be on a substitute property), the residential loan repayment and recording of the property ownership follow. It is essential to choose a loan option that best suits your needs and financial possibilities.

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