If you’re looking to enter the Melbourne housing market, you have likely discovered an abundance of house and land package deals being advertised by developers and builders. If you have done any research into them, you may have also noticed that these packages often seem much cheaper than buying your own land and then building a new home on it. So, why is this? Why are house and land package deals an attractive and cost-effective solution? Read on to find out more.
About House And Land Packages
Ideal home-building option for those who are looking for convenience and affordability. Typically offered in new estates and communities created by property developers, they can work in a couple of ways. First, you can buy the land and house from the same developer in a single contract. There will usually be various home designs and floor plans to choose from with some customisable features to suit your lifestyle, needs and budget. Alternatively, you may buy the land from a developer and then purchase the home separately from an associated builder. This will involve two contracts, but it’s still considered a package deal. A package streamlines the home building process and ensures the fastest possible turnaround time and a smoother path to home ownership.
Why Are House And Land Packages So Affordable?
It has been shown than a package can save tens of thousands of dollars when compared to buying land and building a home separately. Just some of the reasons for this include:
Less Fees
Often, when you purchase land and then engage a builder separately, you will end up paying twice the fees than if you purchase from a house and land developer. A package means that you pay fees to just one place, rather than paying a holding fee, initial deposit, and another 10% and more to the landowner and deposits for the builder, amongst other fees and charges.
A One-Stop Shop
House and land packages tend to be cheaper as every aspect of your home is organised through one developer or contractor. These builders and developers are often large-scale companies which are able to offer special pricing and promotions due to the volume of homes they build. In addition, developers usually offer a ‘turn key’ option which means your house will be ready to live in as soon as you receive the keys – this include everything from painting and fixtures to floor coverings, window furnishings, fencing, driveways, landscaping, and gardens. There should be nothing left to do, and no additional costs to incur once after handover.
Stamp Duty Savings
Normally, you are required to pay stamp duty on the land and on the house. However, with house and land packages, you only pay stamp duty on the land as the house has not been built yet, which could save you thousands. Additionally, there are a number of exemptions and discounts available to certain types of buyers. Eligible first home buyers may enjoy a stamp duty discount or exemption in several states and territories, as well as indirect relief through government grants.
Are You Looking for Elegant Home Designs? Melbourne’s Metronest Homes is Here to Help
If you are looking for the perfect house and land package, get in touch with our team today. We can help you build your dream home in the thriving Western suburbs of Melbourne, ensuring a high-quality result that is tailored to suit your every need. Offering a vast array of customisable single and double storey home designs to suit narrow blocks, corner lots, or any other parcel of land you have your eye on, if you want a simple, fast, and affordable journey to home ownership, reach out to us today. Enquire online now or give us a call on 1300 510 733 to start the process.
