Are you ummming and ahhhing about buying a house?! Perhaps trying to weigh up the pros and cons of buying an older home that you can renovate vs a house and land package? There are a lot of benefits of house and land packages that are worth considering before you make the biggest investment of your life. Essentially a house and land package is a contract where a house and land are offered together as a single purchase, allowing a simplified way for homeowners to build a new home.
Today we’re covering off 5 of the biggest pros of buying a house and land package. So if you or someone you know is considering a house and land package, keep reading!
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1. Simplified process
Without a doubt, one of the main benefits of a house and land package is that it offers a simplified process to building a new home. Typically when building new, you need to hunt around for the perfect plot of land and then engage a builder, possibly an architect, and go through the whole home build process. But when you purchase a house and land package, these processes are combined into a single package. This simplifies the overall process, meaning less headaches and more time focussing on building your dream home.
2. Cost savings
Another major selling point of buying a house and land package are the cost savings. Bundling the house and land together can result in more competitive prices and potential savings on construction costs. It makes house and land packages particularly desirable for first time homeowners.
At the very least, the comprehensive list of inclusions and contract terms give a clear understanding of the total cost from the outset, minimising the risk of unexpected expenses.
3. Customisation options
A popular aspect of house and land packages is that many builders provide a range of house designs that buyers can choose from. Further, there are various customisation options, such as upgrades to hardware, flooring, tapware and more. This allows you to bring your design vision to life, regardless of whether you prefer a contemporary or coastal design style, or anything in between!
Additionally, some developers allow you to source materials or inclusions directly from suppliers with a small fee applied on top (ie not selecting from within the builder’s offering). This is another level of customisation that’s worth discussing with your builder if you want a custom-designed residence without breaking the bank.
From the architectural design to the landscaping, individuals can actively participate in the creation of their dream abode. Essentially you have a blank canvas to imprint your personality and preferences. This level of involvement fosters a sense of ownership that extends beyond legal deeds to a genuine connection with the space you’ll call home.
4. Time efficiency
Talk to anyone who’s built a house and they’ll all say the biggest challenge was finishing the house on time (and of course, on budget!). A major advantage of house and land packages is that timeframes are set out in the contract, creating a sense of security. You’ll have a clear understanding of when your house will move from the planning stage to the completion of construction.
5. Desirable features
Increasingly when people buy a house and land packages, they don’t just invest in their house but a desirable location. Newer developments can include green spaces, new schools, playgrounds and parks, local shops, artful landscaping, and other perks that make the location more appealing.
Do you have any questions about a house and land packages? Or perhaps you built this way and have more benefits to add. We’d love you to share your homeownership experience in the comments below.