A home and land package provides buyers with a sense of security and offers a faster, simpler, and more affordable option than individually planning the location and construction. Whether you’re a downsizer, first-time buyer, or investor, you’ll find this package appealing.
And if you’re looking to discover a house and land package in Australia that suits you and you already have a budget and location in mind, companies like RBWA can help you! On the other hand, this article will enlighten you on why you should buy a house and land package in Australia today.
There are several reasons why it is an excellent investment to buy a house and land package, and the following are just a few of those:
1. Cost Effective
A house and land package is more cost-effective than other existing options. The first good reason is for first-home buyers, who are qualified to avail of government-funded grants that can assist the burden on their pocket. You can choose from a few grants, such as the First Home Owner Grant, First Home Buyers Assistance Scheme, and HomeBuilder Grant.
The second reason is that you don’t need to pay for maintenance for the first few years because the home is newly built and often comes with a warranty. Unlike the packaged one, buying an old home would require you to pay separately for the house and renovations or remodelling.
The third reason is that the company offers cost transparency and fixed price, so you would be aware of how much you would pay, where your payment is going, and what the inclusion in the agreement is; it’ll save you from unexpected charges amid construction or turnover. The last reason we could think of, if you buy a house and land package, expect to pay less on stamp duty.
You would be able to design your home according to your particular needs, wants, and requirements. Still, there may be customisation limitations depending on the builder company.
Who wouldn’t want a customised house based on your preferences? That is why choosing a trustworthy and reliable company should be your priority. It’s you who’ll pay and live in that house in the end, so being able to customise even just a part of it was already good.
If you have business in mind, a house and land package would fit that idea. How? You can purchase it, remodel it, and then find tenants.
A newly built high-quality house would surely attract tenants in Australia, so it’s an excellent opportunity to earn money passively. Once you find a tenant, the most you’ll do is collect payment and visit the house to see how it’s doing, which both wouldn’t take much of your time.
A standard package requires buying a block of land first and then building the house. It is where you can exercise more freedom to design your home by collaborating with the builders to discuss the best way to achieve your preferences.
In comparison, a turnkey package has everything pre-installed already. If you’re not fussy about the details and layout of your home, it’ll be your best option. Also, the standard package requires two contracts, while the turnkey package only has one for the house and the land.
The following is the simplified step of a standard package:
- Researching financing, property options, designs that’ll suit your lifestyle, etc.
- Buying a suitable block of land.
- Building the house.
- Monitor the construction.
- After the construction finishes, you can finally move in.
Meanwhile, the turnkey package takes less time before you can move in since it’s already semi-finished.
You’ll need to pull out a regular mortgage loan if you purchase a home that exists, while in house and land packages, you’re obliged to take out two typically bundled loans.
First, it’s important to remember that not all package inclusions are identical. It will require you to carefully assess and read the offered contracts of different builder companies.
Second, pick a reliable and trustworthy developer and builder for smoother cooperation. You can rely on recommendations, client reviews, and their previous works.
Third, it’s important to consider whether the location is close to essential amenities and public transportation.
Fourth, know your budget and the grants you can use earlier, and finally, if you know a broker or lawyer, consult with them before proceeding with anything.
The price ranges from $300,000 up to $1,500,000. The price varies depending on the location, house features, and house and land size.
If you don’t know any new estate close to you, you can rely on multi-listing websites, make direct contact with developers, or visit the estates of potential developers to see it up close. Also, looking for real estate agents to assist you in finding one is possible.
In summary, whether you’re a first-time homeowner or an investor in Australia, you’ll find plenty of good reasons to buy a home and land package. This article already mentioned a few that make it a good deal. Be sure to research and weigh your options before deciding, as buying a home is a considerable investment with risks.