What does home and land package mean?

December 12, 2020

House and land packages Sydney-wide involve a lot of moving parts. You’ll be liaising with developers, builders, contractors, agents and many others during the process. But, with so many benefits, buying house and land packages are often worth it.

Here, we’re going over what home and land packages are, the benefits of buying one and what’s involved in the process.

Home and Land Package Definition

A home and land package is a bundle purchase of land from a developer and a newly built house from a builder. In other words, house and land packages are when you buy a plot of land with plans for a new home.

Benefits of Home and Land Packages

There are countless benefits of buying a home and land package including lucrative prices, government grants, the opportunity to build your dream home and a chance to improve the current value of an area.

Better Price

One of the biggest perks of house and land packages Sydney owners notice is that they often end up saving money and getting a better price on their property.

First of all, house and land packages are fixed price properties where you’ll buy the land and the house in a bundle. You’ll likely save money in this way by acquiring more equity in the property by the time you move in. It’s important to note that you will need to start paying for a portion of the total home loan before your home is built, so be prepared to cover this cost while you build.

Plus, when you buy a home and land package, you’ll only be paying stamp duty on the land, not the house. Additionally, if you’re a first-time homebuyer, you may be exempt from paying any stamp duty at all.

From there, if you work with a buyer’s agent to help you secure your house and land package, their negotiation skills can help you save even more and get an even better price on a newly built home.

Build Your Dream Home

Another huge perk of house and land packages is the opportunity to build your dream home. It’s not every day that you’ll have the savings and momentum to buy a property, let alone to build a home that suits you and your family perfectly.

For property investors, home and land packages allow you to offer a brand new rental to potential tenants. New builds are a huge selling point for those who may want to rent their ideal living quarters in Sydney. Plus, investors in new builds can often claim depreciation against their income, getting cash back when it comes to tax time.

Either way, the chance to build a house from scratch is a massive benefit of home and land packages Sydney-wide.

Increase the Value of an Area

Last but not least, building a new property can increase the value of an area. Especially if you decide to build in a suburb on the edges of trendy neighborhood, you can be part of the next up and coming area of Sydney.

Families want to live in areas with nice homes, which helps their own homes increase in value. So, in many ways, house and land packages are a win-win all around in terms of boosting value.

How to Buy a Home and Land Package

So, how can you get started on buying the best value house and package in Sydney? You need to work with a buyer’s agent.

Work with a Buyer’s Agent

Our best advice is always to work with a buyer’s agent. Buyer’s agents advocate on behalf of the buyer to ensure you’re getting the best deal every step of the way.

Not to mention, buyer’s agents are experienced with the area and have insights into up-and-coming subdivisions, infrastructure, developers, government incentives and council legislation around building new homes. They can help you navigate all the ins and outs to ensure you find a sweet deal that’s perfect for you.

Especially when you’re dealing with complicated house and land packages, Sydney buyer’s agents have the know-how to help you through this lengthy process. As expert negotiators and insiders in the real estate market, working with a buyer’s agent is the absolute best thing you can do if you want to buy a home and land package.

What’s involved?

The process of buying a home and land package is as follow:
  • Get clear on your budget, goals and what property suits you.
  • Find an appropriate block of land for sale.
  • Get in touch with the designated builder to finetune the blueprints for your dream house.
  • Understand it’ll take a lot longer than buying an existing property.

Again, when you work with a buyer’s agent, each of these steps will be a whole lot smoother. There are many finer details in the process of buying a home and land package (as you can probably imagine), so you won’t want to go at it alone.

 

Interested in buying house and land packages Sydney-wide? Contact Wealth 360° today!

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