If you’re in the market for a new home, you may have come across house and land packages being advertised by construction companies. You may have also noticed that house and land packages are often cheaper than buying your own parcel of land and then building on it. But, why is this? What is it that makes a house and land package the more cost-effective option for people who are looking to build their own home? We explore the many benefits of house and land packages and what contributes to their affordability.
What Are House And Land Packages?
House and land packages are home building options for people who are looking for convenience and affordability when building their homes. House and land packages are often offered in new housing estates that are created by property developers, with pre-parcelled pockets of land on offer for you to choose from. The buyer can choose their block of land and their choice of home from the same developer, streamlining the entire process. The design of the property can also be customised or adjusted to your needs for an extra fee.
Why Are House And Land Packages Cheaper?
1. You're Paying Fewer Fees
Often, when you purchase a house and land separately from different builders or developers, you are going to end up paying twice the fees than if you purchase from a house and land developer. Paying fewer fees can help keep purchase and building costs down, especially if you don’t make too many adjustments to the house design you choose.
2. Many Builders Offer A Turn-key Option
A turn-key option is fantastic for anyone who wants to build their own home but doesn’t want to spend countless hours dealing with designing everything from scratch and having to choose colour and design choices. Turn-key homes are fantastic as once they are completed by your builder they are ready to move into. They often include everything from painting and fixtures to landscaping and gardens which makes them not only cheaper in the long run, but also decidedly more convenient.
3. One-stop Shop
House and land packages tend to be cheaper as every aspect of your home is usually organised through one developer or contractor. From choosing your land and house to deciding on colours, lighting and fixtures, doing it all in one place means you can save plenty of money and time.
4. Savings On Stamp Duty
One of the main reasons that house and land packages end up being the cheaper option when it comes to building your own home is the fact that you are often going to pay significantly less stamp duty fees as you are only paying fees on the value of the land, not on the home that will be built later. Stamp duty can often be expensive so these savings add up.