5 Things to Look For When Buying House and Land Packages
Buying a house can be an overwhelming experience, and increasingly buyers are opting for the convenience of house and land packages. There are a couple of considerations to take into account when purchasing property in this way, so here are 5 important things to look for when you are buying house and land packages.
So What’s The Deal?
It’s important to understand exactly what you are signing up for when you select a package. A house and land package is a deal offered by many developers, particularly for newly created estates. This allows the purchaser to buy the land, and select a house design from a range of standard or customised plans. You can modify certain aspects of the house, however you need to be wary of incurring additional costs for features that are not on the original plans. These are known as ‘off the plan’ packages and are popular with buyers who haven’t built a home of their own before, as they take a lot of the stress out of designing and building your dream home.
Alternatively, some developers offer the house already built on the land as part of the package. This can be a great way to purchase an established brand new home and land at a reasonable rate.
Once you’ve started looking at packages, it’s essential to start researching your location and developer. Make sure the developer has appropriate builder’s warranty and insurance cover, and also ask for referrals and a summary of the experience that they have.
Inspect The Display Homes
If you’re happy with the developer and the location of your house and land package, you can move onto the next stage of the buying process. For pre-built homes, you will be shown around much like any other real estate sale. However if you have opted to build instead, you will need to carefully inspect the display homes that are available. This will give you an idea of design, colours, styling and the build quality of your chosen package. Ask to have a list of the proposed materials, and ensure that they will be sourced from reputable suppliers, such as MetroSteel, National Glass and GJ James.
Avoid Nasty Surprises
It pays to make sure you know exactly what you are getting for your money when building off the plan. Find out exactly how much any additional changes will cost you, no matter how small it may seem. Things such as letterboxes, clotheslines, flooring, drainage and paving may seem to be obvious inclusions, but you will need to check that they are all listed in your contract unless you’re happy to do it yourself after building has finished.
Seal The Deal
So you’ve picked your home or design, are happy with your developer, and know exactly what your costs are likely to be. With all of this out of the way, it’s time to organise finance and sign your contract so you can start enjoying your brand new home as soon as possible. If you have chosen off the plan, then you will need to organise separate deposits and loans for both the land and the construction. A pre-built house will just involve the one set of finance.
No matter which way you have chosen to purchase your house and land package, the completed home must pass the minimum quality standards as set by local, State and Federal authorities. Once this is completed, you’ll be ready to move in to your dream home. Following these 5 essential points will ensure that you will be happy with your house and land package in the many years to come.
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