2021 Guide on Buying House and Land Packages

Benefits, Pros and Cons and Factors to Consider

 Now is the best time to consider buying house and land packages. It is predicted that house prices in Australia will rise by 16% in the coming two years. So now is the best time to seal any real estate deal. If you’d buy now, you can very much expect that your property will increase in value by 16% in the next two years.

Photo by John Fornander on Unsplash

This post is for you if you’re still on the fence about your purchase. It’s also perfect for ones who have already decided on a purchase but are still finalizing their choices. Reading this post will allow you to consider all possible factors and aspects when it comes to buying a house and land package.

 The Benefits

1. Streamlined process – opting for a house and land package will allow you to work with just one team. You don’t have to look for a lot on your own and you won’t have to look for a separate builder. Your builder will offer you everything you need – from lot choice to the construction of your house.

2. Savings – house and land packages are affordable. You can have one for as low as $200,000.

3. Superb Designing Process – opting for a house and land package will allow you to design every nook and cranny of your home to your taste. You’re free to fully customize everything.

4. Community Building – you’d be part of a growing peaceful community. Most house and land packages are built in suburban areas that are perfect for growing families. House and land packages specialists choose optimal locations for the continued increase of property value.

5. Less Stress – you will have fewer things to worry about. You can be sure that all your needs and concerns will be tended to by your builder. Should any issue arise, you’d always know who to contact. Your builder will tend to all your needs.

The Pros and Cons

PROS:

1. Cost-effective – you won’t have to spend separately on buying a lot and building a house. All your needs will come in one package.

2. Convenient – you would simply need to choose a package and your builder will do everything for you. Your builder will guide you every step of the way.

3. Fully customized home design – it will be easy for you to design your dream home. You’d have access to in-house architects, engineers, and interior designers of your builder.

4. Post-care and service – your builder will provide support before, during, and after project completion. You’d always know which number to contact in case something needs to get fixed.

5. Secure economic growth in the community – you can be sure that your home will increase in value in the coming years.

CONS:

1. You can’t move in instantly – you’d have to wait for at least a year before you could move in.

2. You need to seriously consider capital growth – you need to do your research to ensure that the location of your choice will experience boosted capital growth.

3. Most house and land packages are on the outskirts of the city – opting for a house and land package may not be perfect for you if you prefer city life. Most house and land packages are located in suburban areas.

4. You need to consider and be extra careful with hidden costs – always inquire about hidden costs. Builders tend to not disclose extra fees and charges. Should you opt for a house and land package, always make it a point that all parties involved are transparent. Always ask about actual costs. Inquire if hidden fees are already included in all estimates and costs projections. You always need to have accurate numbers at all times. Demand transparency at all times.

Factors to Consider

1. Location – do extensive research on the location of your preferred house and land packages. Will the location fit the kind of lifestyle that you prefer? Will it work well with the needs of your growing family? Choose a location that will allow you and your family to have a fully enriching and satisfying life.

2. Access to Amenities – you need to check if the location of offered lots is near the following amenities:

• Schools
• Hospitals
• Parks
• Green spaces
• Retail services
• Supermarkets
• Malls
• Trail systems for walking and hiking

Photo by Carlos Muza on Unsplash

You need to ensure that the location of your chosen house and land package will make it easy for you to support your lifestyle. Your location should allow you to have easy access to community amenities.

3. Comprehensive List of Inclusions – Everything should be clear and on paper at all times. Some people who opt for house and land packages end up feeling frustrated and scammed because they don’t take time to understand their signed contract. You should scrutinize every single provision of your house and land package deal. You should always immediately ask for support and clarification should there be any provision or sentence in your contract that you find confusing. It’s not best to simply expect or assume inclusions. You should have your builder clearly enumerate all inclusions. This will help you avoid any form of disappointment in the future. It will also give you an idea as to home items and furniture that you will still need.

 Go for it!

 Opting for a house and land package will be perfect for you if you’re looking to save on money, time, and energy. If you’ve made up your mind on opting for one, do contact your builder as soon as you can as it’s best to take advantage of this year’s pricing.

 Reference:

Australia Property Market 2021