Feb 16, 2022
Our Tips For Choosing A House And Land Package
Finding the right builder to help you with buying land or buying a house can be tricky if you don’t know what you’re looking for. That’s why house and land packages are the easiest option when it comes to building your own home as opposed to buying an existing home.
It can often be a stressful process and a long journey if you’re doing everything by yourself whilst still trying to communicate your ideas so you can get what you’re paying for. It’s often easy to miss a few things here and there when it comes to choosing the right house and land package, features and fixtures as well as making payments.
That’s why it’s important to research the market and compare the prices of building a home as it can save you a lot of time and money at the end of your journey.
Our team at Aston Homes can assist you throughout your journey in choosing a house and land package that suits you and your family in all aspects. We have professionals that can help you with your home purchase and help you decide on the right property type for your needs.
Below are some tips and guidelines to help you choose the right house and land package for you.
How does buying a house and land package work?
More often than not, property developers will present you with design guidelines for a house that comes with the land in a specified location that you can choose based on your needs. The custom design will have a fixed price but any changes to design elements such as floor plans or colour schemes will result in extra costs from the builders, as most set plans only allow for some modifications.
Once you’ve paid the construction loan, the building of your new house will commence by the pouring of the concrete slab. Then the walls and roof will be installed, which is followed by the ‘lock up stage’ of securing the home, and finally leads to the key in your hand once all construction has been completed.
We are committed to helping all home buyers and investors, regardless of how well they know the process of building a new home. Our team will ensure that you have a smooth and easy process from the moment the contract is signed to the moment the keys are in your hand for the first time.
Is it better to buy a house and land package or an existing property?
Many Australians, first home buyers, are opting in for house and land packages rather than buying established homes. A new home has a lower capital growth but older homes might result in a higher cost to maintain it for the future.
Buying a house isn’t a simple decision, and with many new estates popping up in metro and regional suburbs in Melbourne as well as the government incentives on offer, it’s much easier to invest in a home that’s built according to your preferences rather than paying rent in an older home.
Questions to ask when choosing house and land packages
It’s important to ask your builder the right questions so that you’re making an informed decision about investing in a house and land package. Below are some questions to consider before signing your building contract:
- Are there any hidden costs?
- It’s easy to miss additional costs within your contract if you’ve not looked at it properly. So, double check the contract to make sure that you’re paying for what you’ve agreed on and nothing more.
- The last thing you need is to feel a false sense of security when there are nasty surprises in the building phase, which will result in you spending more money unnecessarily.
Thankfully at Aston Homes all of our House & land packages come with a fixed price guarantee so you won’t be hit with any unexpected costs.
- Are you satisfied with the options in your contract?
- Within the contract, it’s important to read through it carefully and make sure you’re happy with the option you’ve chosen. You should also notify the builder if there’s anything you need clarified before you sign the contract to avoid conflict in the building stage.
- You need to know exactly what you’re getting, that includes features such as fittings, finishes and fixtures that you’ve agreed upon.
- Is it a complete package?
- Make sure you know if additional features such as the driveway and landscaping are included in the contract as some builders might not provide features in a house and land package contract.
- The builders could choose not to include fencing, landscaping or your driveway in the total costs. It’s always better to check again to make sure you’re getting what you want.
You can rest assured that Aston Homes provides the complete package with features such as the driveway and landscaping so that your home will have everything you need before moving in.
How much deposit do you need for a house and land package in Australia?
More often than not, for the loan amounts you only need about 10% for the land component and 5% for the construction loan in Australia when making a deposit for the house and land package price. You only have to pay stamp duty on the land value of your house, which is an added bonus rather than paying all costs upfront.
If you’re planning on comparing interest rates, it’s best to get proper financial advice to find the right comparison rate for you so you don’t end up paying more interest than you need to.
Once you’ve settled on the right payment plan, you’ll need to disclose your financial documents and financial situation.
We ensure that you are informed throughout the whole building process and are always made aware of what’s occurring. We want to make sure your home is perfect to live in for the future.
Factors to consider before buying house and land packages
Below are some tips to keep in mind before choosing or buying a house and land package:
- Keep aside some money in case you need extra funds for unexpected costs
- For young families, ensure you’ve completed thorough research to find public transport, schools and amenities nearby that meet your personal objectives
- Look at builders’ past work to find out if they’re reputable and if they’ll cover all the costs of building a home
- Ask your friends and families who have built for advice to make sure you’re making the right decisions
You can rely on Aston Homes as a reputable builder to build your next home as we don’t have any unexpected costs and will be there to help you at every stage of your journey.
Get in touch with Aston Homes so we can help you choose the right house and land package
If you’re thinking of buying a house or want more information about the right location to build, look no further than Aston Homes.
We’ve got years of experience in helping and advising home buyers to choose the right house and land package according to their needs and budget.
Our team of professionals will help you whether you’re a first home buyer or if you’re an investor looking to build your new investment property. No matter what, we’re here to assist you throughout the entire process till the very end.