House and land packages have become very popular in the last couple of years. In Australia, these package deals have become the go-to for many home-buyers looking to purchase a home in newly developed areas. One of the most obvious benefits to the house and land package is that purchasers have the advantage of moving into the home first and benefiting from property values that can potentially increase the home’s value.
Other advantages of home and land packages include only paying stamp duty on the land, which saves purchasers thousands of dollars on the deal. Maintenance is another thing that can be a plus when going with a land and house package simply because the homes are brand new and typically need very little if any work to be done. Alternatively, there are some considerations that homeowners should keep in mind before making the deal.
Let’s take a look at a few essential things you should be aware of when purchasing a house and land package.
Choosing The Right One
Because house and land packages are similar to constructing prefabricated homes on land, many assume that they are all similar. However, like all communities, each one has a different character and identity, so they are not all going to be the same. Also, if you plan to stay in the area for a while, making sure that the community fits your lifestyle and that you fit in with the surroundings can play a role in determining whether you should make the purchase.
Look for schools and other community centres in the area. Pay attention to the commute to and from work because these developments tend to be away from the city centres. Other considerations to think about include whether there are other things to do in the area. Someone with an active lifestyle might not want to be so removed from the centre of activity but it will depend on your own interests and those of your family.
The Actual Home And Plot
Typically, homeowners have a few considerations to keep in mind when it comes to how the house appears on the lot. Homeowners can choose from large or small homes on a lot. The benefit for first-time buyers is that there is always room for additions to the home when choosing a smaller one, as the lot is usually large and roomy enough to handle extensions in the future.
Homeowners should also consider the sloping of the lot. Flatter land is typically used for standard homes, and sloping allows the purchaser to choose from a variety of bespoke solutions like split level features. It’s also worth noting that sloping plots tend to be more expensive.
Homeowners also have to choose whether they want their home’s front façade to face the sun or the back. There may also be the option of having a balcony or terrace which will include higher topography to get great views of the surrounding area. These are just a few of the considerations to make when looking at the various ways your house can potentially be built.
Building Costs
While touring the homes, you will notice that many of them have similar features, and it is quite normal to assume that certain features in the home are automatically included. However, purchasers should always find out what is included with the price of the home, such as appliances, fittings, and finishes.
Also, pay attention to the layout because while the houses often come as standard builds they might not fit your needs and this can be problematic for the builder costing you extra money. Finally, look into possibly taking advantage of sustainable features, which initially might increase the price by a few thousand dollars, but can save you a lot of money in the long run.
Key Considerations
Buying a home is an exciting experience. Purchasing a home and land package brings with it the possibility to move into a brand new space that is bespoke to your own tastes. However, to gain the advantage, prospective homeowners should pay attention to some of the points discussed above, so that your dream home can soon become a reality.
