Is House and Land Package an Option for You? Detailed Guide
by Abdul Aziz Mondal Real Estate Published on: 18 November 2017 Last Updated on: 31 October 2023
Most people dream of having their own homes, right from childhood. In most cases, people take the option of buying brand new homes; perfectly finished and in good condition. One advantage of this is that homeowners do not have to struggle with minor or major repairs. While built home package has always been a favourite for many people, you might find yourself staring at a house and land package if you are a potential homeowner.
What does house and land package entail?
In most cases, property developers acquire land, lay down necessary infrastructures then build homes based on their designs and forecasts. The houses are then sold as complete properties to willing home buyers. The other option is developing the land with necessary infrastructure then providing potential homeowners with customisable home designs to choose from. This way, people have the option of settling on the block of land they desire. They also have the opportunity of directly contributing on the features of their new home. This latter option is what is referred to as house and land package.
Is it something for you?
One potential benefit of House and Land Sydney package is that you have a home that suits your needs. You do not have to buy a home you are not comfortable with. Sometimes, the entire house is great but you have issues with the veranda or master bedroom design. Instead of compromising on such essentials, house and land package presents you with an opportunity todo everything your way.
You will also have less to worry about in terms of modification or maintenance costs. You will have a brand new home, exactly the way you want it. In most cases, such a package comes with environment-friendly offers. You might not want to miss such an offer. Notably, the whole aspect of finding the right block of land and settling on the ideal home design takes time. For someone who might want things handled instantly, this option might prove rather inconvenient.
Finding house and land packages
In most cases, you will find house and land packages designed to target a particular clientele. You can find the one that meets your needs in a golfing estate, eco-village, or retirement village. Probably, you know of a new estate that is being put up in your neighbourhood. If not, you can check renowned multi-listing sites. The other alternative is to contact the developers directly. For the best deals, be sure to check the other estates or areas the developer has done.
Financing your home
If you choose to buy land and build your home, you need to know how best you can handle the financing part without unnecessary strains. You can arrange for separate loans. For buying the land, consider a normal mortgage. After acquiring the land block, you can go for a construction loan.
Before signing on the dotted lines, be sure to understand what you are getting into. Feel free to ask what is included in the package. For some developers, you might find driveways, fencing and landscaping included in the package. Finding out such things can help you choose the best deals.
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