So you’ve decided that you want to build a home instead of purchasing a pre-existing property, however you’re probably slumped with where to start. If you’re trying to decide whether to choose land or choose a home design first, we may have a suggestion! We believe that house and land packages may be the correct choice for you, making your building journey much easier while also offering affordable prices in newly developed areas. What more could you want?
One of the most obvious advantages of purchasing a house and land package is the simplified approach that it offers you. With a piece of land chosen and a selection of home designs already pre-determined, this makes your decisions for you. Alternatively, buying your own land and then customising which home design you would like can get expensive and take up a large portion of time.
What you see is what you get. Most house and land packages have basic home inclusions already listed in its contract. This gives you a transparent idea about what you are paying for and prevents you from receiving any additional costs on the home after you've put down your deposit.
The reason why many people decide to purchase house and land packages is because of the amount of money it saves. House and land packages avoid many of the additional costs such as stamp duty (if your home is less than $750,000) and additional site costs are already included in the initial base price. The loan process is a little different, however, we have a finance team here at Domaine that can help you with that!
In NSW you'll find that most house and land packages are offered in new developing areas and can be purchased in new estates. This usually guarantees that the sites offered are all viable to build on and are likely to build its equity making it a worthy investment in the future. You’ll have to be quick though, many buyers know this and tend to occupy the packages as soon as they are released.
If you were thinking about investing but were unsure what to put your money towards, house and land packages are most ideal for a number of reasons. Because many are built in new developed areas, it's usually predicted that the value of land will increase with time (especially in Sydney). Additionally, newer homes tend to attract more tenants, giving you the opportunity to charge rent at a substantial price, funding yourself while the value of the home increases.
Here at Domaine, we recognise the heavy demand of home & land packages and have a team consistently working to bring you a variety of options in different areas. To speak with one of our consultants today about what may be available, contact us today to get on your way!