Benefits of Buying a House and Land Package
Benefits of house and land packages
There are endless possibilities when it comes to building or buying a new home and it can be challenging to find the best option for you and your family.
Purchasing a house and land package is one of the easiest and most cost-effective options for building a brand new home. Here, we share the benefits of house and land packages and what’s involved in the building process. Read on.
What is a house and land package?
A house and land package is when a parcel of land and a home design is packaged up in one process but with two contracts in place: one directly with the builder and one with the developer.
It's simple and cost-effective and ideal for new homeowners working with a tight budget. Right from the start, all design choices, inclusions and optional add-ons are laid out to choose from, so you’ll have a clear understanding of how much your new home will cost.
When you purchase a home with us, we’ll provide a detailed tender quote at the start including a breakdown of all potential costs. There are no additional costs or complications around council approvals, either — we’ve got it covered! Our experienced team will take care of all council and BASIX approvals, work with the developers and make your dream home a reality.
How do house and land packages work?
What are the benefits of buying a house and land package?
#1. The Building process is faster and less stressful than a regular home build
A house and land package takes the stress out of home building. Rather than searching for the ideal block of land and figuring out how to build a house to suit the unique slope of the land, a house and land package comes complete with an architectural home design, the land, and inclusions like bathroom and kitchen finishes - making the process easier and quicker.
The home design is suited to the block of land from the beginning, so there are no complicated design or construction decisions to make. We’ve got it sorted from the start! Plus, the home building process is much easier to get started. With the home design pre-planned and perfect for the block of land, we can start construction much faster than a regular home build.
#2. There are lots of home and land package finance options available
There are multiple grants, concessions, discounts and home and land package finance options available for first-time homeowners including:
- First Home Owners Grant. First home buyers across New South Wales who purchase a new home valued at less than $600,000 can receive a $10,000 lump sum or if you're buying land, the limit increases to $750,000. Learn more about the requirements for the First Home Buyers Assistance Scheme.
- Exemptions for stamp duty on house and land packages. First home buyers in New South Wales can receive an exemption or concession on transfer duty (previously known as stamp duty). Homes valued at less than $650,000 qualify for a complete exemption and properties valued between $650,000 and $800,000 qualify for a reduced fee. You may also be exempt from paying transfer duty on your land, providing the vacant land is valued at less than $350,000.
#3. House and land packages often provide more value for money than a custom build or pre-existing house
Hiring a real estate agent, an architect, and a team of builders can end up being quite expensive. These services often do not include additional costs associated with development approvals, building certification, and more.
In an interview with realestate.com.au, Director of Linden Wise Real Estate in Sydney, Adam Jian, confirmed a house and land package can often provide more value for money, especially for first-time homeowners.
“A house and land package generally provides better value than an existing house in the same area, as it will likely cost less than a custom build and you are buying a brand new home with modern fittings and fixtures,” Adam said.
Recent data has also shown a house and land package can cost up to 14% less than a pre-existing house!
By choosing a house and land package with Montgomery Homes, you’re choosing an all-in-one building experience with internal builders, designers, planners and draftspeople and more than 30 years of experience building beautiful homes.
#4. With house and land packages, hidden costs are not a problem
One of the major benefits of a house and land package is that you’ll always know what you’re paying for. Our house and land packages include an award-winning home design that has been hand-picked to suit the site, Diamond, Sapphire or Emerge Collection inclusions, BASIX requirements and standard site costs. We’ll always be upfront about our costs — you won’t find any hidden, unexpected costs in your house and land package.
What to know when buying a house and land package
Of course, there are a few things you will need to consider before buying a house and land package.
- Choosing a location — Location is always important when buying or building a house. Our house and land packages are built in some of the best up-and-coming housing estates in and around Sydney, Newcastle and the Central Coast — close to public transport, schools, shopping centres and playgrounds. We recommend finding a location that’s close to these amenities as well as your friends, family and workplace.
- Construction time — As soon as we receive your deposit, your approval on the design plans and your signed contracts, we can start the building process! There are five key stages of construction: slab, frame, enclosed (windows and doors), fixing (internal fixtures and fittings) and finally, completion. We’ll keep you up to date on timeframes every step of the way.
- Home and land package finance — Because you know the costs upfront, you will easily be able to find a home loan that suits your lifestyle. We recommend comparing lenders and even talking to a conveyancer to ensure you get the very best loan available on the market and avoid paying Lenders Mortgage Insurance.
- Upgrades — Naturally, you want to ensure your new house really feels like home. We offer a wide range of luxurious upgrades like 92mm skirting boards and floor-to-ceiling bathroom tiling so you can customise your home to your liking!
Talk to our team of professionals about buying a house and land package
At Montgomery Homes, we’re committed to making the home building process simple, convenient and best of all, exciting!
Our experienced team will walk you through the house and land package process from start to finish. Just browse through our extensive range of house and land packages available in Sydney, Newcastle and the Central Coast or if you can't find the perfect package, get in touch about one of our 200+ architectural home designs.
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Benefits of Buying a House and Land Package
