The Evolution of House and Land Estates
Opting for a house and land package when turning a home ownership dream into reality can be an easy and affordable path to take.
Things have come a long way with house and land estates, which in years gone by were primarily about providing affordable options further from the city for first-home buyers who want a decent sized house.
Design Excellence and Community Features
Nowadays, the focus is often less on squeezing as many lots as possible in a new land estate and more on making these homes desirable places and neighbourhoods in which to live.
Housing estates these days are more likely to win design awards for excellence and usually offer parks, waterways, walk paths, plenty of trees and are close to transport, schools and retail.
Who Benefits the Most from House and Land Packages?
The appeal is broader and house and land packages these days typically get attention from young, growing families who need more space, single first-home buyers, upsizing couples and retirees seeking peace and quiet.
Investment and First-Home Buyer Advantages
McDonald Jones Homes CEO Rob Douglas said it’s property investors and those entering the market for the first time that can reap the most rewards from a house and land package.
Key Benefits of Choosing House and Land Packages
“Having the house and land package combination minimises the work people have to do, and everything is packaged upfront, making it as easy and as stress free as possible for those looking to build,” he told moneymag.com.
Navigating Financial Benefits with the Home Guarantee Scheme
One of the biggest benefits of a house and land are the surprisingly low deposits that can secure a property thanks largely to the Federal Government’s Home Guarantee Scheme.
Considerations Before Investing in House and Land Packages
There are some possible pitfalls when it comes to house and land packages, so it’s important to check what you’re getting in your package, what grants you’re eligible for, research to find a reputable company and builder, be prepared to cost blowouts and delays, and withhold final payment until any defects have been fixed.
Choosing the Right Builder and Package
A house and land package is usually financed with a construction loan, so call Perry Finance today to get professional advice if you’re considering the house and land option.
Financing Your Dream: Construction Loans Explained
“Homes today need to be good to look at and easy to live in,” he said. “Mum and dad want a place they can retreat to, so we ensure the main bedroom delivers that aspect. Then it’s all about the living areas, be that indoor or outdoor spaces. Open-plan living, an alfresco area for entertaining and a home theatre are now common design features in today’s floorplans.”
How Perry Finance Can Assist with Construction Loans
“When the guarantee scheme was first announced, it was targeted at Australian citizens who were first home buyers specifically,” Loan Gallery Finance director Steve Matsoukas told moneymag.com. “From July 2023, it has been expanded to include permanent residents as well as those who have not owned property in the past 10 years.”
There are some possible pitfalls when it comes to house and land packages, so it’s important to check what you’re getting in your package, what grants you’re eligible for, research to find a reputable company and builder, be prepared to cost blowouts and delays, and withhold final payment until any defects have been fixed.
A house and land package is usually financed with a construction loan, so call Perry Finance today to get professional advice if you’re considering the house and land option.
