BENEFITS OF HOME AND LAND PACKAGES FOR FIRST HOME BUYERS
For first home buyers, getting the house of their dreams can seem like an almost impossible task. The unprecedented property price growth, shortage in land supply in urban areas, and Australia's slow income growth- can make any young couple think they'll never be able to afford a new home for their family.
Additional to this, most new home buyers find the process of building a new home overwhelming: Setting a budget, choosing a block of land, finding the right builder, designing a home (and all the decisions that this entitles), securing finance... there is a lot to do, and as a home buyer you want to do it right!
But this is not all doom and gloom, good news is, house and land packages are not only a desirable and affordable option for many buyers looking to enter the property market, but also, this option offers a great solution to some of the most frustrating and time-consuming aspects of building a new home!
If you're looking for a shiny new home for your family, let us tell you 7 reasons why house and land packages offer greater value for first home buyers, rather than organising the purchase and construction of a house yourself:
1 - UPFRONT COSTS & AFFORDABILITY
With house and land packages, the price is usually pretty upfront, which is great for those who finance is pre-approved and are on a tight budget. This price includes typically the work of professional designers and architects that are involved on every aspect to ensure your home is of high quality and that the property fits perfectly on the lot according to block orientation- this removes any the fees associated with consultancy.
House and land packages can be in most of the cases significantly cheaper than a ready to move property, and you also will only have to pay stamp duty on the land’s value as the house has yet to be built. This can represent you significant savings!
2 - EASIER AND FASTER PROCESS
House and land packages are one of the easiest ways to purchase a new home. By bundling together several of the process involved, house and land packages simplify the whole building journey for you, making it easier and way less stressful.
Finding a builder that can offer you a variety of home designs that can fit perfectly within a block of land will save you so much time! And once you decide on the perfect floorplan for your family, finance, council approval, and construction will be pretty streamlined, so you will be able to move into your new house on the expected date!
3 - A HOME DESIGN THAT SUITS YOUR FAMILY NEEDS
With house and land packages you will not only have a wide variety of home designs to choose from, but you can also customise several aspects of your home to ensure it suits your families unique needs and lifestyle. This flexibility and input to personalise every space of your home to make it your own, give a lot more joy in the process of owning your first home, than if you were purchasing an existing house.
4 - FIRST HOME OWNER GRANTS
As a big plus for first home buyers, and an added benefit with house and land packages, many states and territories offer a First Home Owner Grant on newly built homes. So if you are in New South Wales, aside from all the benefits you can get with house and land, you can also receive $10,000 from the government for your new build!
5 - FINANCE
Choosing a house and land package also makes the financing of your project a lot easier. When you purchase a block of land and then contract a builder, the funding will go into 2 steps: One loan for the land and another loan to negotiate with a builder. Whereas with house and land, the finance will be streamlined into one loan, one process. This, as the mortgage on the land and the construction loan are typically bundled together, and repayments are set against construction milestones, so you only pay the full amount once your new home is completed!
6 - A BRAND NEW HOME!
Can we say this enough? One of the most incredible benefits of home and land packages is that with your budget, you get to enjoy a brand new home! Everything is new, everything has been created and customised specifically for you. All you need to do is move in! The feeling of owning your first home is indescribable, This is why building a new home makes it so special.
Also, because you will move into a new home, you’ll have a warranty if there are any problems, and likely to have few or no maintenance expenses. Plus, you can claim the maximum deprecation allowance on your tax return as new properties depreciate faster than existing properties.
7 - A NEW LIFESTYLE
Finally, by moving into a house and land estate, you will be part of a new and emerging community. Many of these states have been carefully planned to offer a lavish lifestyle, including new facilities like parks, medical centres and shopping areas. You and your new neighbours will get to build an exciting new community and watch it grow and develop around you!
At Evolution Building Group, we are all about making the process of owning a new home as simple and enjoyable as possible, no matter what stage of life you are. If you are looking to make the dream of owning your first home a reality, we can help you and guide you through the process so you can get the perfect home that caters precisely for your family needs!
As experts in home & land packages, we strive to take the worry and pain out of your building process. This is why we have matched the best home designs to the best blocks to simply make it easier for you. If you have already purchased a block of land, we can recommend a home design, or we can offer a custom design service and a range of upgrades that can be included to ensure your home is entirely unique to you!
Contact us today if you’d like to discuss your options or if you have any questions about house and land packages. We’d love to hear from you and help you get started on your dream home!
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