House and land packages are an affordable buying option whether you’re looking for your first home or your next, but the benefits go beyond costs.
Here are five reasons why you should consider a house and land package.
Home buyers are faced with a barrage of information, facts and figures, and decisions when looking for the right home. It can quickly become an overwhelming process, particularly when you start to consider the costs.
With population growth and dwindling land supply, many buyers are forced to sacrifice to secure a property within their budget. From property type to location and size, it can be difficult to find everything you need in a single property. Enter house and land packages.
These are an increasingly popular choice for many home buyers as they present a more affordable option with all the comfort and space included. The benefits don’t stop there, though. Here’s five reasons why you should consider a house and land package.
House and land packages allow you to create a home that really suits your needs without the price tag of a custom build. They are also often cheaper than buying an existing home in the same area — in some cases, up to 14% cheaper!
Most house and land packages feature fixed-price contracts that provide a detailed rundown of what’s included in your home upfront. The advantage here is two-fold — pre-approval is much easier and there are no surprise costs along the way.
Even better, these packages are often designed with the help of architects and interior specialists, which means you get a quality product without having to pay for these expert services.
Finding the right home takes a bit of time no matter what route you take. However, if you’re thinking about building, you’ll need to kick things off by finding a suitable piece of land. No easy task considering the limited supply available.
Once you do find and purchase your land, you’ll then have to plan and design your home as well as select your inclusions, colours, fittings and fixtures. This involves finding the right trades and negotiating quotes — all of this before you can even start building.
House and land packages are designed to simplify this process by offering a tailor made product through a single source. This makes it easier to see your options, choose what’s right for you, and start building immediately without having to deal with multiple agents, designers and builders.
As house and land packages grow in popularity, so too does the number of real estate companies that offer them. And each company provides buyers with multiple home design options. Many of these companies will also offer a degree of flexibility in these designs, which means you can customise even further.
With all of this choice, it’s easy to find the right design and tailor it to really suit your needs.
Grants and deductions
As if house and land packages didn’t already offer an affordable buying option, government grants and deductions can make it even easier for you to purchase. From first home owner grants to stamp duty concessions, you could be eligible to save thousands of dollars.
For example, in New South Wales, you’re only required to pay stamp duty on the land portion of your package. In Queensland, first home owners can receive up to $15,000 toward the purchase of a new house and land package. Of course, eligibility requirements apply and the options available to you will depend on the state you live in.
Make sure you thoroughly research your options here to get the most out of what’s available.
When you purchase a house and land package, you have the option of securing a full turnkey home. This means that once the build is finished everything will be in place for you to move in. From landscaping and fences to flooring and appliances, it’s all included in the package price.
The advantage here is that you’ll know exactly what to expect. There are no renovations, DIY projects or repair work required. All you have to do is turn the key and manage the move into your new home.