House and Land Packages are a great first investment. They are relatively more affordable and can save you money on a number of associated costs like stamp duty. But they’re still an expensive commitment, and you’ll want to make sure that your first choice is nothing short of flawless. Here are a few things you should consider before buying a house and land package that is best for you.
Making Your Home Fit For You
When choosing a floor plan or layout, think about where you spend most of your time and prioritise that. For example, if you’re into hosting gatherings, then make sure to pay attention to either the living room or the backyard.
Our top tip is that designs, floor plans or videos are often not translated into what you intend them to be. Looking at the display homes of the builder may help you and your builder realise what it is that you’re looking for. After all, it’s a good idea to check the quality of the finishes, as even a small difference between matte or gloss finish in your kitchen can be a huge difference.
Location, Location, Location
Whether your house is an investment or a place you intend on living in for a long time, make sure your purchase is such that it is located in an area that caters to your personal life and future life. Consider its proximity to schools, hospitals, public transport, and recreational centres. Find out if there are any construction projects in the neighbourhood, as they might make the location more valuable, so you’ll get a good deal for your investment.
Budget and Finances
The importance of this cannot be ignored. While choosing a house and land package can get you great savings, at the end of the day you are buying both, a house and land. One may be a better investment than the other, and the bank’s may think that too. As you’ll need to take out two separate bank loans to finance the purchase, the banks may give you different terms or repayments, based on what they value the house or the land at.
Building and Construction
Making sure you choose a reputable and reliable builder is key to making sure that your plans won’t be postponed. We recommend getting a list of builders in the surrounding area and seeing if your expectations match with their quality of work. Naturally, your builder must be licensed and one that provides you with a structural guarantee, but take a closer look at their previous work and see if it’s good quality.
Understanding the timeline for construction will help you get things in order. You should anticipate delays and changes in the weather and factor them in to minimise or anticipate risks. Another good tip is to get a timeline in writing from your builder to avoid any disputes in later stages.
Timeless and Resellable Designs
As you may not live in your House and Land Package at all, or at least forever, it’s a good idea to choose timeless designs that will have good resale value in the future. Consider possibilities where you might need extra space for children or an office or a study. Having an extra bedroom that you can convert is always a good idea. Your designs should be timeless or flexible enough to make changes when required without costing you too much.
How House and Land Packages.com.au Can Help
Making the decision to purchase a house and land package requires a lot of thought, so you don’t have to do it alone. House and Land Packages provides a listing of builders that can meet your requirements. Search our listings on our site and contact us if you need any personalised information.