THE WHOLE PACKAGE
Tuesday, 4 November 2014 12:00 AM
Building a new home should be one of the most exciting times in your life, but without the proper planning it can also be one of the most stressful. A good way to simplify the process is to opt for a house and land package.
A house and land package allows you to streamline your purchase into one transaction, including the land and the cost of constructing the home itself. Your mortgage and construction loans can be bundled together and you will have one point of contact throughout the sales and building process.
House and land packages are popular in new housing estates, where developers lay down the relevant infrastructure (water, electricity and sewerage) before on-selling blocks of land to individual buyers. As a result, you are less likely to have issues with amenities, soil quality or underground rock than if you source your own block of land outside a developed estate.
House and land packages are often tailored to meet the needs of different groups of buyers – first-home buyers, young families, retirees and more. Do some research on the style of homes offered in your area, and enquire whether the available designs are fixed or customisable. Most builders should accommodate reasonable variations here and there, but be mindful that if you want to change every room dramatically you may be better off opting for a custom build.
A house and land package is generally a more affordable option, as most builders will provide you a fixed-price contract before your build gets underway. Be sure to ask your builder exactly what is included in your package price – sometimes the finishing touches, such as driveways and landscaping, can incur an additional cost.