How to start the process of purchasing a house and land package?
Buying a house and land package can be both an exciting and daunting process for first home
While the process itself is relatively straightforward, it is a little different to purchasing a ready-
made (or preowned) home.
For the most part, house and land packages are generally offered by developers. Developers
purchase parcels of land that might have previously been farmland in outer suburb areas and
then go through the process of turning them into thriving communities, with all the great services
and amenities you might expect from a more established suburb.
The first thing you need to ask yourself when starting the process of purchasing a house and
land package is whether or not that would be a location you’d ultimately like to live in. You
should take into consideration the distance from your workplace, as well as nearby schools for
your family or future family.
New subdivisions would have all of the amenities that you would need, as it is the job of the
developer to create a vibrant suburb and community.
Land vs House and Land
When looking at house and land packagesin VIC or ACT, the first question you’ll be faced with
is whether to buy the land and construct a home on it or simply buy a completed house. There
are benefits to both.
If you buy a completed house, you are able to move in straight away and start to enjoy the
advantages of living in your own home sooner. On the flip side, if you aren’t a first home buyer,
you will likely be forced to pay stamp dutyon the entire property.
By purchasing the land and then constructing the house, you only pay stamp duty on the land
component, which will make it considerably cheaper. However, you also get to build the exact
home that you want to live in – which is often the major appeal of purchasing a house and land
When buying the land only, you also might be eligible to put down only a 5% deposit, whereas
by buying the ready-made home, that deposit could be 10%. The exact deposit and financing
structure will be different depending on the project and of course, you can always obtain your
own financing through a mortgage broker.
Building Your Home
The idea of building your own home is often why the process feels daunting to first home buyers
– but it doesn’t need to be.
You can even visit the land development site to look at the display homesin order to get a feel
for the community and the homes.
As a custom home builder in Melbourne and Canberra, Achieve Homes offers a wide range of
house and land packagesfor you to choose from. We can guide you through the selection
process to ensure that you find a package that suits you, your lifestyle and budget.
We also offer various home designsfor you to choose from, so you can take your pick at
whatever tickles your fancy. If that’s not for you, we also provide knockdown rebuildas well as
quote and buildservices.
Contact us today at firstname.lastname@example.org.