Before taking the exciting plunge of buying property, it is essential to be informed about every detail that will impact you as a buyer. The location of the place and planning zones shouldn’t be overlooked as they are able to determine property values and outline the development potential of your area. This article will answer a few key questions regarding property zoning and assist in keeping you in the loop as a residential or commercial purchaser.
What Does It Involve?
The zoning of a potential property provides insight into the local municipality’s standards and how the property fits within the community perspective. Property zoning sets the ground rules for the size, placement and even which pets can be kept within the vicinity. It is also helpful to check the zoning of surrounding properties and which conditional uses can be requested through the council. Through being more aware of the home’s inclusions, property access and environmental assessments, you are able to make more financially sound decisions.
When Is It Used?
Developers are regularly checking the property zoning for any changes, especially when it comes to residential growth areas. It is appealing as there is a lot of building potential, with blocks of land being able to produce denser apartment-style homes that can accommodate several tenants.
Victoria’s residential planning zones are divided up into three different types. The Neighbourhood Residential Zone covers single and double-storey properties that contain historical value and unique characteristics. As these properties are easily distinguishable in the local area, they have to follow certain requirements around height restrictions and garden areas. Meanwhile, the General Residential Zone includes spaces where housing and population diversity are expected to increase. Following similar requirements, this zone also aims to maintain and enhance the existing neighbourhood character. In addition, Residential Growth Zones involves places where housing density is expected to keep up with population growth at town centres.
What Do I Have To Check?
It is important to clarify boundaries particularly if your property is situated at a location that is a commercial or industrial zone where multiple zones cross over. There may be other barriers that can dictate how you can utilise your home. For instance, buildings that are close by to historic districts and design overlays may have regulations to adhere that states what you can modify. In order to avoid any unwanted surprises, ensure that you have carefully inspected the property from top to bottom. It is also ideal to conduct some research for your specific investment with resources such as Landchecker, which bring us to our next point…
How Do I Check The Planning Zone?
Landchecker is a handy tool which provides accurate and up to date property information. A free property report will tell you what zone the property is in and if there are any additional planning restrictions you should be aware of. It will even highlight planning zones that intersect near the property which could impact you in the future.
What Does The Future Hold?
To make the most of your investment, it is vital to consider every aspect of the property and picture what it will look like in five to ten years’ time. It pays off to familiarise yourself with the town’s long-term plans for construction and producing establishments. Also, try to bear in mind that vacant lots and partially completed residential projects will continue to expand throughout the suburb. For an improved understanding, monitoring any property zoning changes and development activities is an efficient way to stay one step ahead.
At iBuildNew, we are passionate about providing advice and assistance to anyone building a new home or looking to purchase land. Our team of experts can step you through the process seamlessly. Call us on 1800 184 284 or book a call online!