Planning to purchase a house and land package? Finding one that is worth your hard-earned money can be a daunting task. To get you started, here are six things you should consider when checking out a house and land package.
1. The Quality Of The Location
Can the neighborhood meet your lifestyle’s needs? Pay attention to what the area can offer you before deciding to reside there. Chances are, if the buildings and shops nearby suit your hobbies, interests, habits, and career, you will be happier with your decision.
Check the locations accessibility and proximity to the amenities, businesses, and services you want and need, such as movie theatres, parks, cafes, gyms, shopping malls, restaurants, and other attractions and recreational spots. If you have children or are planning to start a family, would there be decent schools and childcare centres nearby? Or, if you are aiming to grow in your career, job opportunities for your chosen field should also be abundant around the estate.
Transportation is also a determining factor of the location’s quality. How long will it take you to commute or drive from home to work or leisure?
Image: Plenary Group
Another point to consider is the safety from crime and natural disasters. No one wants to live in a crime-ridden or calamity-prone neighbourhood. To get accurate information, you can visit the local police station and the public library to obtain the statistics you need for your peace of mind.
2. The Lot
Typically, blocks begin at 300 sqm. See if the space is ideal for your budget and preferences. Smaller lots can be more affordable if you are a first-time buyer. However, if you need a large backyard that can cater to your hobbies or a growing family, then bigger ones may be more suitable.
Aside from the size, the lot’s slope and soil are also important. Flat blocks with M-classification soil quality will help you save money because that means it is easier to build on the lot. However, if you have front-to-back or side-by-side slopes, and poor soil quality, additional charges can occur as the lot may require a bespoke build. Have a surveyor conduct a test to know what you are getting.
3. Costs And Financing
If it’s your first time to purchase a H&L package, talk to your lending institution to learn more and apply for a First Home Owner’s Grant. You may be exempt from Stamp Duty; otherwise, calculate your Stamp Duty by visiting government websites.
Other costs to include in your budget are the Contour Survey and Soil Test (see # 2: The Lot) and New Home Tender/Agreement (with your builder). If the location is a declared bushfire area, you also need to upgrade your house to a BAL-12.5, which also has an additional fee. Furthermore, if there is a flood risk in your chosen location, the 1:100 Flood rule will apply, and can also incur charges.
4. Home Design
Explore your options with your builder to see what can be done to achieve your dream house. Some H&L packages only include the house itself and a blank yard, so it’s always wise to check if your package has the inclusions you want, such as driveways, fencing, landscaping, and the like.
5. Your Choice Of Builder
Before you commit to a particular builder, check the process and craftsmanship of their recent projects by visiting homeowners they have built houses for. If they are happy with their homes, you are most likely in good hands.
iBuildNew offers house plans, land estates, and even house and land packages in Australia. Our home designs include single storey, double storey, and dual occupancy. If you are interested in H&L packages, either to live in or as an investment opportunity, make sure that you speak to one of our expert phone consultants. They can provide you with invaluable advice specific to your new home requirements. Call us on 1800 184 284 or book a call.