Owning a home is everyone’s dream. No wonder the number of loans for the construction of new homes rose to 27% in September 2020, with most Australians opting for house and land packages.
House and land package is one of the many ways to purchasing or investing in a house which buyers prefer for many reasons. It is affordable, hassle-free and flexible in terms of construction designs.
But What Is A House And Land Package?
In a house and land package, a buyer acquires a land block and the construction of the house in one process but with two contracts. It allows the buyer to know the combined price of the home and land from the start.
House and land packages are available in two varieties.
- You can buy a newly built home on a specific lot – all you need is to turn the door key and settle in.
- You can also buy the land first and then build your house by having a contract from a set range of builders and designs.
House and land packages in Sydney are especially in demand.
Reasons Why You Should Consider House And Land Packages In Sydney NSW?
Now let’s go to the basic question: why a house and land package option is better, and why you should consider it.
By opting for Sydney house and land packages, you can save quite a lot as this package costs approximately 14% less than a move-in ready property. Where Sydney’s median house value is $993 9273, a house and land package in northwest Sydney can cost as little as $579 0002, saving you $414,927.
Also, the stamp duty you pay in case of a house and land package is only for the land and not for the build cost, which will be a big saving and help you own your dream house.
Stress-Free Design Selection
House and land packages Sydney is a stress-free option to build your own home as per your liking from a range of design options available. A house and land package is a complete package including an architectural home blueprint, the land slop, and inclusions such as a fully fitted kitchen and other parts of home finishes.
Moreover, you do not have to face design complications as the home’s design is in accordance with the land block from the start, which means no complications while making decisions regarding the construction of your home.
Tremendous Savings with State Grants
You can enjoy many State grants, such as the first homeowner, $25K Homebuilder grant and more, by opting for the option of Sydney house and land package.
The maintenance cost is low as the houses are newly built and generally covered by a service contract. Warranty is especially a fantastic feature for investors, and they can also claim the maximum depreciation allowance on the tax return.
Put briefly; if you are planning to buy a brand new property and want to save, you definitely need to look at the house and land packages Sydney.