Advantages of House and Land Packages
If you’re in the market for real estate right now in the Perth area, congratulations! This is an exciting time to make a big change in your life. But, as you probably know by now, it can also be a challenging time. First off, you’re probably experiencing a general sense of overwhelm about all of the decisions you have to make. Where’s your ideal location? How about your budget? How are you going to go about securing finance? And how are you even going to start tackling all of the design decisions that come with building your perfect home? The list is seemingly endless; it can be especially daunting for first-time homebuyers.
But, fear not! There is good news amidst the chaos. There is absolutely an easier way to manage these challenging decisions. One of the easiest ways to do so is by making your to-do list a lot shorter. How? Let’s talk about buying a house and land package. These allow you to cut out many of the costs and most of the stress associated with building a custom home. Not only is it much simpler, but it’s incredibly convenient. You’re essentially bundling together a good chunk of the processes involved in buying real estate. This means you’ll get to streamline the process of actually getting to live in your new place. That’s the whole point of this, after all!
Here’s even more good news: buying a house and land package is one of the most affordable ways of getting into the property market, especially in the Perth area. It really does make perfect sense. If you’re a first-time homebuyer and value is important to you, this is an option that shouldn’t be overlooked. You won’t need to make as many compromises in terms of location, size, and property type – you’ll be able to make a lot of those calls yourself. And if you decide to go with a custom builder, you’ll still get all of the benefits of tailoring your home to your particular needs and tastes.
Still a bit confused over what exactly a house and land package entails? Let’s break done the logistics and discuss the advantages of a house and land package.
One Stamp Duty
Worried about taxes? With a house and land package, you’ll only pay stamp duty on the land component of the purchase. This is valid as long as construction has not yet commenced on your new land.
And have you heard of the First Home Owners Grant? The government has grants available for new homeowners with no strings attached – it’s essentially free money if you qualify! The incentives vary by state, but you can get up to $10,000 for new homes in New South Wales or $20,000 for new homes in Victoria (valued up to $750,000!).
One Bank Loan
Because there is a fixed cost when you buy a house and land package, there are no hidden fees to uncover and cry about later. This gives you a definitive number to work with, which means there is just one loan to keep track of. If that’s not peace of mind, I don’t know what is! It will keep your repayment plan simple and allow you to manage your lifestyle the way you prefer.
Because there are so many perks bundled into your house and land package, a lot of hassle is saved on your end. But that doesn’t mean you should just sign the papers and then go on vacation while you’re house is being built. Make sure you know exactly what is included with your package so there are no surprises down the road. For example, some things like driveways and fences may not be included in your price. It’s also a good idea to make sure what you can – and can’t – customise, and what might cost extra to tweak to your tastes. Most standard inclusions are quite basic, which means you’ll have to pay more for high-end customisations like granite benchtops, appliances, fancy splashbacks…you get the idea. Though you may be given some options, they may be limited. Just remember, look into this before you commit. The ease and peace of mind of a house and land package make it worth it, but it’s always a good idea to avoid any surprises with a purchase this important.
Choose the Design for You
And speaking of customisations, they are the best part! Doesn’t it sound exciting to customise your future house to fit your personal vision? I can’t think of any piece of real estate that beats one built just for you. Everyone’s lifestyle is different, so it makes sense that each home should have its own unique features. So go ahead, choose the extra bathroom. You deserve it.
Costs Are Transparent
Remember, there is real peace of mind when you’re dealing with real estate on a fixed price. Once you’ve gone through the details and paperwork, you know exactly what you’re getting with a house and land package. You won’t need to compromise down the line. As far as the financial pace, you’ll typically pay for your land upfront and then make payments at various stages of the building process. For example, you’ll pay for the base stage when your frame goes up. When things are all blocked up, you’ll pay for the lock up stage. Then comes the fixtures stage, and at last, completion. You get the picture – you know exactly what you’re paying for, and how much you’re paying. It’s also helpful that these payments don’t happen all at once.
One Point of Contact
Another perk of the house and land package is that you’re not dealing with a whole squad of different contractors. Having just one point of contact is a great asset when you’re building a home. It’ll save you a bunch of headaches, so why not let somebody else be the middle man? This is made possible thanks to the fact that the land and construction contracts are with the same vendor. Life’s better when it’s simple. Make the easy choice.
Although this might not be at the forefront of your mind right now, remember that this is a solid investment for your future. Because a house and land package is new, you’ll have a warranty to fall back on should any issues arise. You’ll also be able to claim full depreciation on the investment because new properties decrease faster than older properties. Here’s the scoop: your capital is lower, you’ve saved on fees, you’re building in the sought-after Perth area, and you’ve got that handy warranty. This means your house and land package is good for future buyers too, so if and when you’re ready to sell, you can be assured you’ll get top dollar.
So what’s stopping you now? Your new home is waiting for your own unique customisations. Choose the perfect house and land package in the Perth area and watch your lifestyle dreams come true.