If you’re buying your home for the first time or investor, you probably don’t have any idea in this field or you’re exploring all the ways you can achieve your dream of securing a home. You might be aware of new house and land packages, but you’re not sure how they work? This article will answer all your questions so you can choose the right plan.
Types Of New House And Land Packages, And Where You Can Find Them
The contractor obtains land as it’s released by the government and provide two different types of new house and land packages for the buyer to choose from. Advertised with a single, fixed price for land and construction, as it won’t leave you any nasty surprises, such as builders calling up for more money mid-construction, because of underquoting. You’ll know all the costs upfront and the expected time frame for the build.
You might be aware of new estates in your local area, but you can also find the best house and land packages advertised on major real estate listing websites. Connecting directly with developers can help you find the right packages at very affordable rates. Make sure to shop around, investigate other estates they have developed, and explore all the packages available by various developers. There are a lot of questions to ask when you’re buying a house and land packages, make sure developers answered them correctly.
Things To Consider When Buying a House And Land Package
When buying home and land packages, consider the infrastructure of the area. There is a lack of public transport or it’s still in the developmental stages, which can mean longer commune times and could impact on your lifestyle. Another issue is that some houses and land packages may include inflated costs for marketing and commissions which not always be transparent and could increase the price of your home. Make sure you take a decision by doing complete research and ask the right questions before leaping into anything unknown. You may also have to pay some extra cost if the soil is hard or if it’s situated on a slope.
If you’re an investor, think that you’ll be without tenants for the duration of the build and will be responsible for all interest repayments on the loan which will have you negative gearing for some time.
Also remember, consider is oversupply will affect you as the land around you is built up. Will it affect rental demands?
Other Helpful Tips and Advice
Has extra money aside as a buffer in case building costs blow out?
Make sure you know what is included in a fixed-price contract.
Avoid making changes in case if builders rapidly increase costs.
Research property developers/builders to see they are experienced and trustable
For investors, you can claim extra tax benefits and depreciation because they’re new homes.
If you’re searching home builders sunshine coast, make sure you connect with Ausmar Homes.
Source URL: https://ausmarhomes.com.au/house-land/