Numerous Australian developers now offer solid options for house and land packages. But should you even opt for one? Do you even know what to consider when buying one?
You’ve definitely done research on house and land packages so you more or less have an idea about what you’d be getting into if you’d opt for such an option. This article is for you if you need more clarity on your decision. We will directly enlist the advantages and disadvantages of buying a house and land package. Being fully aware of such will allow you to confidently and intelligently answer if the option is perfect for you.
Table of Contents
PROS that you would enjoy if you’d buy a house and land package:
What people say about house and land packages is true, they are a more affordable and practical option if you want to have your own home and still be within budget. This is primarily the reason why sales of house and land packages are still on the rise — people still want a house of their own and developers are finding more and more ways to make the option affordable.
You would have access to government grants if you’d opt to buy a house and land package. Grants may differ depending on States and the kind of buyer. You will relatively have access to more government grants if you are a first-time homebuyer.
The government recognizes the enormity of your decision. Rightly so, it offers numerous options and pathways for homebuyers to avail of tax cuts and discounts. To have this aspect fully utilized and optimized, you should schedule a meeting with a local tax lawyer that can help you in making tax-friendly purchase decisions.
House and land packages are built in areas that are already developed or are envisioned to be fully developed in the future. You will reap all the benefits from this decision that was already made by a group of experts. Opt for a developer with trusted experts that focus on Residential Building house and land packages that are set to be more valuable for years to come.
5.Defined house plan
House and land packages already come with defined design plans. This is something that people with no idea whatsoever about house building will greatly enjoy. As most design aspects have already been decided and optimized for you, you will have fewer problems and issues to deal with. With some developers, all blueprints are ready to go for execution, all that you have to do is simply show up and choose a design.
6.Ease in contracting
If you hate having to collaborate with different people day in and day out, opting for a house and land package will be perfect for you. With it, you won’t have to look for a separate architect, engineer, or interior designer. All will already belong to one solid team. You won’t need to talk to different people as your developer will already have them organized and working together.
CONS to consider when buying a house and land package:
1.Limited options for location
Are you extra particular with locations? If you are, then you will feel restricted and limited if you’d opt for a house and land package. House and land packages are only built on limited and pre-planned areas. Not all areas are utilized for house and land packages. If you’d opt for one, you’d automatically have to deal with lesser options for location.
2.Limited house features
House and land packages are more affordable because everything is already planned and optimized. Such planning and design optimization involve the intentional limiting of house features. This very mechanism is the very thing that makes house and land packages more affordable. If you want a highly customized house with more design features, then opting for a house and land package may not be the best option for you.
House and land packages need to be built. You can’t move in on one immediately. Do not opt for one if you need a house that you could use in an instant. You would need to wait for at least six months before you could enjoy a house and land package.
4.Limited design options
House and land packages come in limited designs. As everything is pre-planned, interior designers, architects, and engineers have already come up with simplified options for you. This will not be enjoyable for individuals that want to have a fully personalized house. If you want a fully personalized house, it would be best if you buy a house that is not pre-planned and pre-designed.
5.Time for planning
You would still need to dedicate time and energy to planning for your home if you’d opt for a house and land package. It won’t be as fast as you think as you would still need to collaborate with a team in order to come up with the ideal design for your house. Note though that in coming up with a design, you’d only ever get to choose from ones that were already pre-planned and pre-picked for you.
You would still need to closely monitor a build even if it comes from a developer that offers house and land packages. You need to do this to ensure that construction pushes through within schedule. A closely monitored build experiences lesser delays.