House and land package have become popular option for homebuyers and investors in Australia in the past decade or so. If you are on your property search you may have a few misconceptions surrounding these packages. Through this article, hopefully some light will be shed on a handful of these myths, and what the truth behind them actually is.
Myth #1: There is NO Design Options
In order for house and land packages to come at a fixed price, they need to be set in terms of design. This is a great option for investors, and allows homebuyers to get into their first home sooner at a lower price. However, if you are moving into your new house and land package, interior design is the way you can make this home unique and perfect for you. House and land packages will be designed in a way that lets you pair them with any style and it will work for you.
Myth #2: Inner City Investment Is Best
A consideration with many sides to it. A lot can be argued for and against inner city versus outer
investment. There are just as many benefits in investing in a growth/developing area than there are investing in an already established inner city region.
Some suburbs are more popular than others, while some suburbs will offer more amenities than others. Also consider that particular land may increase/decrease in value more than others.
While there are definite exceptions, for strength and stability over the long term, it’s the inner and middle ring suburbs of capital cities that appear the best places to invest. Though, interestingly, its the high growth outer suburbs which are growing faster than some inner suburbs.
Myth #3: Government Grants?
Many Australian states offer grants and other forms of help for buying a pre-existing home or building a new home from scratch. They also offer tax or stamp duty concessions, especially for first home buyers. To find out what you can receive, visit your state government’s website so you can map things out for your final budget.
Myth #4: Only Certain Costs Are Included In the H&L Package
You won’t be kept in the dark by your builder, and should have full knowledge and understanding over every cost. With iBuildNew, if you are purchasing a house and land package you will be given a fixed cost for your investment that means you won’t be confused about what is and what is not included in the total price.
If you are purchasing a house and land package to live in, this may vary widely from builder to builder, so it’s a good idea to investigate your options and shop around to find the right people for you. Factor in any changes, additions or add-ons you might want. But also extra costs that may come during the building site set up. Ensure there are no hidden costs that will catch you off guard.
How can iBuildNew help
For more information regarding house & land packages, be sure you speak to one of our home building experts on 1800 184 284.
They are independent and motivated to see you achieve your property and investment goals. You can also book a call online.