Community
Should You Consider a House and Land Package?
Whether you’re looking for a place to live in or invest in, purchasing a house and land package is often the easiest option! Let’s take a look at the benefits that house and land packages have over buying land alone (then doing a custom build later) or buying an existing house, and also why packages may be the better choice for property investors.
Why it beats buying land only
Opting for a house and land package can be far less stressful than securing a vacant block of land with a view to building a custom residence on it later. Developers, builders, architects, and interior designers have already done a lot of research and legwork for you in terms of designing a home that fits the land size and shape perfectly and meets all regulations. Packages are typically less expensive because they are often offered in bulk and come in designs and materials the builder has worked with before. And you’ll know exactly what you can afford as the price is fixed from the beginning; no more tricky negotiations or auction day disappointments! Another benefit is the time saved. There is no time wasted in hunting for the perfect builder, securing their services, the back and forth of creating a new design or looking for specialized tradespeople. You’ll be surprised at how many extra tasks you’ll have to do yourself during a custom build. A house and land package means your family can move in sooner!
Why it’s better than purchasing an existing house
If you meet the eligibility requirements, the FHOG (First Home Owners Grant) equals a cool $10,000 coming your way. To sweeten the deal further if you intend to live in your new home for longer than 12 months you’ll also be eligible for the PPR (Principle Place of Residence) concession. Not sold yet? In addition, you’ll save on stamp duty as you’ll only be paying it on the land portion of the package. With existing homes, it’s hard to find the colours, fixtures, and fittings you love without adding further cost or renovations and if it’s a “fixer-upper” you may not even be able to move in on settlement day. The older the house is, the higher the chance that you’ll find something broken or not quite right once you move in. Plus nothing compares to that feeling of coming home to a brand new house!
Why it’s good for property investors
The previously mentioned cost-effectiveness, time and energy savings and predictability aspects of buying a house and land package equally benefit investors. Yet there are more advantages. Brand new homes depreciate faster than existing ones, meaning investors can claim the maximum tax benefits (according to their situation). Builders warranty means your investment will be more protected than an older home for years after it is completed. Finally, one of the most attractive reasons for investors to choose a house and land package over an existing property is that brand new homes attract both higher rent and better tenants!
Offering a perfect balance of city convenience and semi-rural freedom, Arramont Wollert has a variety of packages to suit all needs and budgets, for more information on house and land packages, follow this link www.arramont.com.au/house-and-land, call 1300 965 537 or drop into our sales office located at 290 Craigieburn Road East, Wollert.
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