What is a house and land package?

the Benefits of house and land packages

House and land packages offer you a great benefit - you’re purchasing the land in a location you like, and selecting the house design to be constructed on it.

The majority of these packages are available within residential land developments, where you will usually find a number of builders offering different designs for your new home. This is an ideal situation for buyers to compare price, inclusions and features, in order to ensure that the home you buy is the most ideal for your lifestyle.

Ready to go Plans

Many of the designs offered will have been created with the land, orientation and location in mind. In most instances, they will also already approval from relevant authorities, which means less waiting to get started.

It’s important to note that if you do choose to make significant changes your design, it may result in having to seek development approval again. But that shouldn’t mean that you should compromise on creating your ideal home. Because you are purchasing the house and the land from two separate entities, there are generally two contracts you’ll need to sign.

What’s Usually Included?

Standard inclusions in a new home usually include a fully-fitted kitchen and bathroom, windows and doors, built-in robes, electrical points, TV and phone points, fans, tiles and stairs if the package is a townhouse. Other interior design elements can be selected at an extra cost, it really depends on what the builder is willing to offer.

Common inclusions can include carpet throughout the bedrooms, stone kitchen bench tops or stainless steel appliances.

Driveways, landscaping and fencing are often considered extras and may come at an additional cost. That means you’ll need to go and buy your own letterbox as well!

As with all property purchases, if you’re looking to buy a house and land package you’ll need a conveyancer or legal representative to liaise with the developer and builder to ensure that all the council and regulatory requirements are met.

You’ll also need to be aware of your budget that connections fall outside of the house & land package price, so you’ll need to factor in costs for getting your power, water, gas and internet all running.

Save money on stamp duty

The significant saving for house and land packages is on stamp duty. When you are building a new house, you are only paying stamp duty on the value of the land. This is far cheaper than that of a conventional home.

HIgher rentals for New investment property

As a landlord, you want to attract high-quality, long-term tenants to your property. New homes have the advantage of being desirable to rental tenants. It is highly likely you will be able to charge a higher rental rate, maximising your return on investment. 

New Home Warranty will reduce future investment risk

A big benefit of a new house and land package is that they have little or very low maintenance. This is a significant advantage for rental properties. It's likely that maintenance issues will be covered by a builder’s guarantee. This reduces the risk of unexpected maintenance costs going forward.

Incentives for new homes

There are often significant incentives offered by government and local councils. This can result in a highly competitive house and land package to get your first home started.

Consider the following incentives to buy off-the-plan.

  • Revenue SA Stamp Duty Concession $15,500 

  • $15,000 First Home Buyers Grant from the State Government

  • No Council Rates for First Five Years*

  • No Strata Fees Payable for first 2 years

There are many advantages to house and land packages, but you should still do your homework to find out whether there is a house and land package that is right for you.

 

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