‘New house and land package’ is a term that expresses a deal which comprises both, a new house and the land on which it is built. There are such numerous packages offered by home developers in Australia which are unique and attribute different features. Every dealer comes up with a variety of packages where you can choose one according to your convenience. There are primarily two options of house and land packages a person can choose. Firstly, you can choose a piece of land of the desired size and location and then go with a personalised blueprint of your house. These packages are also called ‘off the plan’ packages. The second way is to buy a house which is pre-built on the land. People go with this package more often than not. Whichever package you choose, the home must be authorised as per minimum quality standards as necessary by state and local authorities. The standard of materials varies a lot between different house and land packages. Depending on your budget and the lifestyle you wish to have, you can opt for a luxury home or a normal one.
Here are some ways where you can get the best deal for your house and land package.
The first way could be to go to a mortgage broker. By arranging an independent mortgage broker, he can get an amazing deal at the price which you want the property. Turnkey properties which are advertised with a single and fixed price for land and construction will not leave you any unpleasant or disagreeable surprises with things like building calling up for generating more income during the course of construction which is because of underquoting. This way you will have the details of all the costs coming up and also the amount of time required for the building process. Also being able to move in quicker makes things easy for many first home builders. You need to be cautious of new estates coming up in your locality. At the same time, you can find an off the plan house and land packages advertised on big real estate listing websites.
The better way could be directly contacting property developers who can provide more information and help you discover the desired package. Similarly, you can shop around in your neighbourhood, research other properties that are presently developed and survey about the different packages available by different developers. There could be many doubts and questions while buying a house and land package which should be cleared by your developer.
There are things to be known when buying a house and land package. Consider the infrastructure of the area when buying a home. There could be a lack of public transport as the area may still be developing, which could lead to larger travelling time. Some packages can cost for marketing and commissions which if not transparent, will escalate the price of your house. If you invest in the land first, you can end up with more charges if the soil is too hard or situated on a sloping surface. If you are an investor, you will have no tenants for the time span of the build and also responsible for all interest payments on loan which will degrade your cash for some time. Many capitalists go for the ready-built turnkey formula to stay away from this aspect.