What is a House and Land Package
Australia is currently experiencing a house and land package boom like no other. In Sydney, sales have increased by 48%, leading up to the final quarter of 2020, and figures continue to rise in 2021. Even with the significant quantity of interest, some confusion still exists around what house and land packages are and whether they are worth the investment.
If you live around Sydney, you have probably heard friends talk about buying a house and land package. Homes offered through house and land packages often go for less than city apartments but have all the amenities and features you would come to expect in a state of the art home. Of course, you are excited for them, and perhaps you consider whether this is something you should pursue. Naturally, to ensure you are not making a mistake, you begin inquiring from friends and family about their experience and whether they would recommend you going ahead. This is where you’ll hear several varying descriptions of what a house and land package entails.
Everyone’s an expert on what it is, but very few people understand the technical elements and their benefits.
If you want a bare-bones explanation:
A house and land package is a home you purchase before the building begins.
The greatest misconception surrounds whether a house and land package is just like buying land.
The short answer is: while certain elements are similar, the premise is wildly different.
If you were to buy land and build a house, you would:
- Inspect the land and soil
- Buy a vacant property that is suitable for building
- Draw up plans
- Find builders to build the home
- Build the home
- Inspect the home
- Move in
What a house and land package does is provide you with a piece of land – usually within a development – and furnish you with several – customizable – plans to build the home you desire. You pay a deposit to begin the process and pay settlement a few months after the deposit.
Then, the team of specialists behind the process oversee the finer details of the project. This process will begin with a consultation that uncovers:
- What sort of home would you like of the options available?
- How would you like your layout to be set up?
- What additional features would you like?
After you sign off on your customizations, the building begins. The next time you will have to lift a finger is when you pick up the keys to move in. The process is far more practical than a traditional build, and usually, you have more insight into what you are getting. Insights such as how many other buyers are interested in the area, what the neighbourhood will look like, etc.
House and land packages are all about convenience
You don’t have to do any of the groundwork but still have the customization you would get if you were finding land and building a house.
You get to find land in areas that will already have significant investment from other investors and get your foot in the door while the property prices are still reasonable.
The process begins by finding land in a development or project you resonate with, followed by doing a consultation on a home. Once you agree to the tweaks and changes you’ve made to your plan, builders begin breaking ground on your home, and within a year or roughly that amount of time, you’ll be given the keys to your home and can move in.
When you partner with a house and land package specialist, the entire process is streamlined. You find your dream piece of land and build your dream home without all the hassle of a traditional build.
If you are considering buying a house and land package but still have additional questions, you can contact our team. We will make every effort to help you understand the process, to ensure you feel confident you are making the right decision.