Deciding to build a home can feel like a daunting decision. There are a few ways to approach the buying or investing process – one of them being purchasing a house and land package. If you are not sure where to start, here are some tips for buying house and land packages, as well as the ins and outs of what you will need to know.
What is a House and Land Package?
The process of building a new house typically involves two stages – purchasing land and proceeding to pay a custom or volume builder to begin construction on the land. A house and land packages will be of one advertisement presenting the construction of the house, as well as the land, for one single price designed to simplify the process..
Property developers will tend to offer you a set of home designs that you can choose from. With these packages, there may be a limited level of customisation for your design – but this is dependent on your specific builder. It is also good to note that you will usually be required to place a 5% -10% deposit on the unit of land, and a 5% deposit on the building contract.
Perks of Purchasing a House and Land Package
A ‘Turnkey’ Property
One of the most satisfying aspects of a home through a house and land package is the ability to buy a turnkey package. Essentially, the home is ready for you to move into upon completion with a finished understanding of price to alleviate loan preparation. You will be ready to move in with little to no work needing to be done.
Save Your Time
It can take a long period of time to find land that works with a specific house design from a builder, as well as in a location that you like. Buying a house and land package can save you this headache. That work is already done for you by purchasing the two through one party, and you won’t have to worry about site costs or coordinating different companies. For availability of packages solutions, check out our fixed – turnkey packages @ our website.
A positive of a newly built home through a house and land package is that it will require very little maintenance, as opposed to buying an already existing home. You will also find that they are usually covered by a warranty, to ensure the quality of your build and also save considerably on the spend for a home in comparison. .