House and Land Packages Australia
Melbourne home buyers are turning to house and land packages as property prices in established areas become un-affordable.
Melbourne real estate prices have seen steady increases in price over the past years with many now claiming that there is an affordability crisis for the younger generations. Property prices in Sydney and Melbourne have had double digit percentage growth in consecutive years and 15+% year on year price growth until July 2017.
House and land packages can provide an affordable alternative for home buyers. House and land packages are typically found in newly developed areas where land is considerably cheaper than inner city areas. This means that first home buyers can pick a home with land at a drastically cheaper price.
It is now estimated that 17 percent of adult Victorians are interested in building a home. Some interested builders may be interested in a knockdown and rebuild of their older home at their current location. However, a good proportion is also interested in home and land packages.
New House and Land Packages
These days there are literally hundreds of new house and land packages available on the market. It can be difficult for buyers to know which house & land packages are the best / highest quality and best value for money. The homes that you see when you visit the display homes are not always the best indication of what you will get in the end when you order from that builder. Sometimes the builder will make sure that the display is good quality just to suck you in. Then when they build your home you find that the quality is just not there. Furthermore, going around to all of the different house and land package displays can cost you a lot of time and money. We take the stress out of getting a great house and land package! You can choose from a wide range of designs and features to meet your lifestyle and budget. You can rest easy knowing that you have professionals working for you!
After reviewing house & land package builders and undertaking due diligence we present you with a selection of the best quality builders that have the best value packages available in each State.
- Use only high quality builders;
- Get the best package prices;
- Wide range of designs and features;
- Save time, energy and money;
- Access a large range of builders and locations;
- Have peace of mind knowing you are using professionals
House and Land Package Options
There are different house and land package options
The two main types of packages are:
- buying land and then having the house built; and
- buying a newly finished house (with the land) from a developer.
In this option you purchase the land with a contract to build the home on it.
If you choose this option you will need to pay a deposit upfront and the balance after the house is built and you take ownership.
One of the advantages of buying a home this way is that you pay less on stamp duty as you only pay stamp duty on the land not the building or the construction. If you are buying this type of house and land package and you need to borrow for the purchase your lender will usually require you to take out a construction loan. As progress on the building is made, you take more funds from the loan to pay the builder/developer, only paying interest on the funds taken out.
The other advantages of this option is that you have more flexibility about the design and it is potentially less expensive than buying a newly built package after it has been finished.
In this option you are buying the newly built house (with land) after it is built but agreeing to the purchase prior to it being built.
Under this type of house and land package, you will only need to provide a small deposit upfront (e.g. 5% deposit) when signing the contract to purchase. The balance of the purchase price is due after the construction is complete. The developer is required to make all of the payments on the construction.
You will not be required to take out a loan to cover the land and construction cost or make construction progress payments.
The benefits of this option is that you do not have to worry about builders and the construction. Instead you can just move is after the home is finished. However, this option can be more expensive.
Contact us to go through your house and land package options.