Why you should buy house and land packages?
With various property choices available in Australia, it can be hard to decide which property type you should buy. Do you go for an established property which might need some work doing to it, but you can walk around and view the property, or do you go for a property that is brand new or built off the plan which requires little to no maintenance and have no previous tenants?
If you prefer a property that is brand new, but don’t like the thought of apartment living, then you might find a house and land package suitable. Not only can you pick the block of land you want to build on, but you can choose the builder, the façade type and floor plan you prefer.
House and land packages are normally built part of a master-planned house and land estate, which come in various sizes. Become part of a boutique estate of around 20 homes where you know all of your neighbours or buy within a much larger estate which could comprise 10 or more stages, fantastic lifestyle amenities and home to more than 5,000 homes once complete.
So, why should you buy a house and land package? There are many great reasons why you should buy a house and land package. Whether you are an investor, owner occupier or first home buyer, a house and land package could tick all the right boxes for you. Here are 10 reasons why you should buy a new house and land package today.
10 Reasons to buy a house and land package
1. Customisation As mentioned previously, a house and land package allows you to choose your block of land, the builder and the type of façade you require. This means you can build the house of your dreams. You might even have the option to choose the colour scheme inside as well as the appliances and fixtures and fittings if you buy early enough.
2. Makes a great investment If you buy early enough into a master-planned house and land estate, the more likely your new home will grow in value. This is because the later stages will increase in price, and will already push your property value up. And if you buy in an area that is up and coming, then the property value is likely to increase even more in the years to come.
3. More room to grow A house and land package also gives you more room to grow, especially if you are a family with children longing for your own backyard. With many living areas and outdoor areas to relax and dine in, there are plenty of spaces throughout the home to escape. If your house and land package is part of an estate, then you are likely to have parklands, walking and cycling paths and sports fields within strolling distance, giving you every opportunity to get outside and explore the great outdoors. It also means your children can play in safety, close to home.
4. It’s brand new Let’s face it – everyone loves new and there’s no better feeling than walking into your own home that has never been lived in before. If you buy your house and land package as an investment then a new home will also be easier to rent out allowing you to charge premium rents to your tenants looking for a higher quality property.
5. First Home Buyer Grants available If you are buying the property as a first home buyer, then the great news is that house and land packages are classified as a new property and you may be eligible for the first home buyer grant. The grant changes depending which state you buy in, so in Queensland you could currently receive $20,000, whilst in NSW the First Home Buyer Grant is $10,000.
6. Convenient and accessible Many of the new house and land packages are accessible, close to major roads or public transport allowing you to commute easily to work. You will also find a range of amenities close to hand including schools, retail and dining, whether that’s within the estate or within walking distance or a short car journey away.
7. Stamp duty savings Another great reason why you should buy house and land packages is due to stamp duty savings. As you are building a new house, you only have to pay stamp duty on the value of the land component, rather than the house and land components. This is because the house has yet to be built. This means a house and land package costing $450,000, would save you approximately $8,000 in stamp duty.
8. Low maintenance costs As you are buying a brand new home, there are low maintenance costs. Everything within the home is brand new including the appliances so if something were to break, then this will be covered for the first few years at least. The builder’s guarantee will often cover the building, fittings and fixtures for five years. You will also benefit from lower energy costs, due to modern appliances and even energy efficient technology throughout the home.
9. Tax savings If you are an investor, then buying a new house and land package will offer you tax savings, helping to reduce your taxable income each financial year. You can claim on depreciation whilst other claims could be toward legal fees, property management fees and interest.
10. On display If you are the type of buyer who prefers to see before they buy, then many estates have a house display which you can view and walk around. This will give you a feel of the home and whether you like what you see. Alternatively, there are floor plans, price guides and images to look over to help you decide on the right home for you.
Get in Touch Thinking about buying a house and land package? iBuyNew has hundreds of new house and land packages available right now across New South Wales, Victoria and Queensland. A number of our Queensland properties are within easy commutes of Brisbane as well as positioned in the stunning Gold Coast or Sunshine Coast for maximum lifestyle appeal. You could even purchase a new waterfront home with your own private berth!
To discover more about where our house and land packages are located and what packages suit your budget and requirements, call the helpful iBuyNew team today on 1300 123 463.
Published on 20th of September 2017 by Marty Stanowich