HOME AND LAND PACKAGES ARE A GREAT INVESTMENT
There are many reasons why home and land packages are a great investment.
- With a home and land package you can pick the design
- You save money : home and land packages are generally more affordable then buying an house
- Clear costs & inclusions : House and land packages usually make it very clear what’s included and how much the package will cost
- Many home buyers want to build their new home and move in without anything to do. House and land packages offer this kind of a build, often referred to as a turnkey home, but let’s start from the beginning: what is a home and land package? is it the right choice for you
There are a number of ways to buy land and build your new home.
- One is to find a vacant block of land and then choose a design and builder separately.
- Another way is to go with a “house & land package” which consists of a pre-built home and the land it’s built on.
- A third way is to decide on vacant land in a new subdivision with the view of building a new home.
The home and land packages are usually offered in new subdivisions and developments
The buyer secures a block of land and the construction of a home in one process, however there are two contracts – purchase of the land from the developer and a construction contract with a builder for the house.
This can be a benefit as the buyer can know the overall price of their completed home and land from the beginning.
Often in new developments there are a number of builders with display homes, where a buyer can walk through the homes and see the style, layout and finish of the builds and speak with a salesperson to get pricing.
They will usually be able to provide designs that will suit a specific block of land.
Of course, you don’t have to go to a builder up front to find a suitable design, even if buying in a new subdivision.
Another option is to put down an Expression of Interest on a block of land that you like, usually for a nominal fee, and then start the design process to get an idea of what the house is likely to cost.
This is a situation where a professional home building consultant can be invaluable.
They can take your rough design and organise for a Concept Plan to be drawn up, giving the buyer the chance to be sure that they are getting the right home for them. Once the concept plan is complete, indicative pricing for the build can be obtained, meaning the buyer can have a budget figure to work with before actually committing to a specific builder or, indeed, the land itself.
Drake Home Consultants can assist you to organise all the necessary plans, documents and approvals, ensuring that all council and regulatory requirements are met. Once all this documentation is prepared, the build is put out to tender. As all houses and builders are different, this method allows the builders who are tendering to compare “apples with apples”, thereby ensuring that the buyer is getting the best possible price.