House and Land Packages are Skyrocketing in Popularity in Cranbourne
Have you been wondering why house and land packages are so popular right now? You’re not alone. There is a growing demand for house and land packages in booming communities like Cranbourne and other Melbourne suburbs; people want the convenience, affordability, and personalisation that a house and land package offers. Sounds pretty good, right?
It seems easy enough. But before you buy a house and land package, you need to know a few things about the process. So, let’s take a closer look.
What Exactly Is a House and Land Package?
Whether you’re a first home buyer or an investor considering your options, this handy guide will help you figure out if a house and land package is the right choice for you.
These days, you have options that can make it hard to decide how you want to go about buying a new home. You can buy an established property, or you can buy land and then a house separately, or you can buy a house and land package.
A house and land package deal comes with two separate contracts: one for the land and developer, and one for the house and builder. While this is like buying the house and land separately, a house and land package is different in that the land will have select homes to choose from that have already been designed around the land. The house and land are bundled together as package deal to save you time and effort in the building process.
Is a House and Land Package the Right Choice for You?
So, now you know what a house and land package is, it’s time to find out if it’s the right choice for you; here’s what you need to know.
Consider The Financial Benefits
Unfortunately, buying a home these days can be expensive. Luckily, there are several financial benefits to buying a house and land packages that can lessen the burden on your budget.
The First Home Owner’s Grant is an entitlement for first home buyers with new homes valued under $750,000. You could receive up to $10,000 to help you afford your new home, so make sure to check your eligibility on the State Revenue of Victoria website here.
Don’t forget to consider the tax depreciation benefits of buying a house and land package, too. You can claim on a number of depreciable assets like rates, construction costs, interest payments, fixtures, and fittings.
Stamp duty benefits might be available to you if you buy a house and land package in Cranbourne. It’s true – since stamp duty is a tax you pay for the transfer of land from one owner to another, you can save money as you settle on the land first and the home later, meaning you only need to pay stamp duty on the land. You would have a higher tax if the house was part of the land (like an established property). To calculate stamp duty costs, see the State Revenue of Victoria website.
What are the Stamp Duty Rates in Victoria?
According to the State Revenue Office of Victoria, the tax rate information according to the Duties Act 2000 is as follows:
|Dutiable value range||Rate|
|$0 – $25,000||1.4% of the dutiable value of the property|
|$25,001 – $130,000||$350 plus 2.4% of the dutiable value in excess of $25,000|
|$130,000 – $960,000||$2870 plus 6 per cent of the dutiable value in excess of $130,000|
|Greater than $960,000||5.5% of the dutiable value|
Save Time and Effort by Buying a House and Land Package
When you buy a house and land package, you take a lot of the hassle out of the buying and building process. Instead of having to find the right builder after you’ve bought the land, you’re already one step closer to the finished product. The house designs available are often customisable (to a degree) and will already be designed to suit the block of land they will be built on.
Also, with a brand-new house, you won’t need to worry about maintenance and upkeep for a while, as all the fixtures and fittings will be brand new and chosen by you. Why try and get an older house up to your standards when you can have a new one that suits your family and lifestyle perfectly?
10 Reasons Why You’re Going to Want to Invest in A House and Land Package in Cranbourne, Victoria
There’s a lot to say about Cranbourne, Victoria, so let’s take a closer look. Cranbourne is just 49 kilometres south-east of Melbourne, with a population of 21,688 people as of 2015, according to the Australian Bureau of Statistics. It has seen growth in recent years – in 2011 the population numbered 19,169 people – that’s an increase of approximately 630 people per year over four years. So, why is Cranbourne becoming so popular? Let’s find out.
1. Affordable Housing and New Amenities
Fact: significant statistics from census data in 2014 show that residential houses in Cranbourne had a median sale price of $318,750, up from $308,000 in 2013. Fact: Melbourne has also seen a 13.8% growth in residential property prices from the June 2016 quarter to the June 2017 quarter.
Now, these statistics show us that Melbourne is not only growing in popularity, but that Cranbourne is a great, affordable place to buy. If you want to be close enough to get to the city when you need to, but far enough away to escape the busy CBD, then Cranbourne is perfect for you.
Not only is Cranbourne growing in popularity, but with this growth comes an influx of new amenities and facilities to accommodate all the new residents. To give you an example, plans for a new multiplex cinema in the main Cranbourne Park Shopping Centre are part of developments taking place for entertainment options in Cranbourne.
2. Close to Melbourne And the Beach
You’re in luck for summer in Cranbourne, as Frankston Beach, the Foreshore Reserve, Seaford Pier, Bonbeach Beach, and Chelsea Beach are all a quick 20-minute drive away, bringing you right to the eastern edge of Port Phillip Bay for some sun, sand, and sea.
To get to Melbourne’s CBD, Cranbourne is a 45-minute drive away, or 1 hour and 20 minutes by train.
3. A Great Selection of Schools
Cranbourne is great for families as it has a wide range of educational facilities to choose from. Primary Schools include: St. Therese’s Catholic Primary School, Cranbourne Primary School, Cranbourne Park Primary School, Barton Primary School, Lyndhurst Primary School, Cranbourne Carlisle Primary School, Courtenay Gardens Primary School, and more.
Popular Secondary Schools in Cranbourne are: Cranbourne Secondary College, Alkira Secondary College, Cranbourne East Secondary College, St Peter’s College, and Casey Grammar School.
Cranbourne even has a specialist school for students with intellectual disabilities called Marnebek School Cranbourne.
Chisholm TAFE has a Cranbourne campus with a large library, glasshouse, and other course-specific amenities.
4. Shopping and Leisure
The major shopping centre in Cranbourne is Cranbourne Park Shopping Centre, located on High Street in Cranbourne. The centre has chief retailers like Coles, Target, Kmart, JB Hi Fi, and Woolworths, plus over 100 other specialty stores.
The Springhill Shopping Centre on Cranbourne Road is also popular, with a Coles and many other essential stores like the pharmacy, bakery, bottle-shop, medical centre, newsagent, and more.
For members, the Ranfurlie Golf Course has excellent facilities and is ranked as Golf Australia’s 60th ranked course. The Amstel clubhouse has function rooms, a sports bar, members lounge, and great views of the city and the course from all angles.
5. Casey Fields Sports Centre
The Casey Fields $30 million multi-sports complex in Cranbourne’s east is one of the suburbs biggest features. The 70-hectare centre has a main VFL oval and four other ovals which get used for Aussie rules football and cricket. The complex also has an athletics centre, netball and tennis courts, a cycling track, fishing lake, rugby fields, and golf cage.
The Casey RACE recreation and aquatics centre with the YMCA in Cranbourne East has group fitness classes, water slide and pools, swimming lessons, personal training, and a fitted-out gym.
Not including the great Casey centre, Cranbourne is also home to Australia’s largest indoor skate park, The Shed Skatepark. There are five-day camps, lessons, and school holiday programs to get the kids out and moving, making friends, and learning new skills.
6. Royal Botanic Gardens
A big feature of Cranbourne that locals love to boast about is the Royal Botanic Gardens, who “play a leading role in the conservation of plants through biodiversity research, programs to protect rare and threatened plants, and the study of habitats”, as stated on the Royal Botanic Gardens website. The gardens offer excursions, professional development, huge plant collections, and science and collections projects.
Private functions and special events like weddings and concerts can be held at the Gardens by arrangement, and there are always plenty of events on to get involved in, like high tea, guided tours, and punt cruises on the lake.
7. Getting Around
You can travel in and out of Cranbourne by car, bus, or train. Cranbourne is accessible by car on the South Gippsland Highway and the Westernport Highway. Metro Trains travels along the Cranbourne Line from Cranbourne Station to Melbourne’s CBD. For a complete timetable click here.
As of November 2016, Cranbourne introduced 17 new bus routes that now reach newer areas of Cranbourne and add more trips for busy periods and routes. Read about it here.
8. Community Life
Cranbourne has a great local Community House with programs in areas such as community development, adult education, personal development, computer training, children’s programs, arts and crafts, workshops, health and well-being, and recreational programs. The Cranbourne Community House has been around for over 30 years.
The Cranbourne Bowls Club has a “country” atmosphere and is a welcoming club with bowls, committees, and social functions.
9. Restaurants, Cafes, and Bars
When you’re looking for somewhere to buy dinner, you won’t be disappointed by the options in Cranbourne; the Ajanta restaurant (Indian), La Porchetta (Italian), Taco Bill (Mexican), and Thai Cottage are just a few of the popular choices, and there are bistros at the Settlement Hotel, Kelly’s Motor Club Hotel, and the Trios Tabaret at Cranbourne Racecourse. You’ll be pleased to know that you’ll have plenty to choose from on Cranbourne.
10. Cool Weather and Climate
The outer suburbs of Melbourne, like Cranbourne, enjoy a pleasant variety of climates throughout the year. It has rarely been known to snow in Melbourne, but the temperatures do get cool during winter, hitting minimums of 6.2°C in July, and during Summer maximum temperatures are usually around 25°C, though can reach up to 30°C on particularly hot days. (Luckily, the beaches aren’t far away.)
Ready to Take the Next Step?
Call us today to talk to a professional about house and land packages in Cranbourne, so that you can take the next step towards buying your own house and land package – what have you got to lose?
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