Buying a home can present a number of challenges, especially for those who have not yet experienced the process.
Many still go the traditional route of finding a home. They look for an existing house to buy, or they purchase a block of land, holding onto it until they decide to build.
Unfortunately, this often represents the least convenient and often more costly way of getting your dream home.
Increasingly, many who want a great house with the least hassle have turned to house and land packages. These simplify the process and help to make sure that you get a house that best suits your family.
What Is a House and Land Package?
A house and land package typically involves working with a respected home building contractor who combines the land and new home construction purchase into a single price.
Typically, you work with a builder who can offer a range of houses and land and different options. Working with them, you can select a house and, sometimes, also certain special features. The appeal of the package comes in its enhanced convenience and, occasionally, even a lower price than some alternatives.
How Will House and Land Packages Offer More Convenience?
Buying land and building a home, or fixing up an existing home to meet your needs, are both complex endeavours. Each involves working with multiple entities and keeping track of a lot of moving parts.
From a contractor like Champion Homes, you can get packages to suit your needs. We can offer basic standard packages that allow do-it-yourself-ers to make personalised improvements at their own pace.
You benefit from added convenience because we take care of the details. You get a single price for the entire project that requires a single loan to cover building and site costs. Our team works with you to offer a number of possible design features.
We also make sure that all elements of the project abide by applicable laws and regulations.
Will They Cost Less Than Other Options?
When you price a home and land package and compare it to other options, you may be pleasantly surprised at what you find.
First, these packages are usually better deals than purchasing an existing home of similar size. The difference lies in the dreaded stamp duty. Buying property that no land developer has touched ensures that you pay far less in duties than you would if the house was already there.
Home construction and land packages can come in different types, depending on budget and how many personal touches you need to be included in the home. Standard packages provide a move-in ready home, but with few extra amenities.
You may also save on your down payment. When you go to a lender for separate loans on land and house construction, you will pay more. Land loans require at least 10 per cent while those paying for house construction often require at least five per cent down.
When you work with a builder in pricing a home and land package, lenders will often only require five per cent down for the entire project.
Those buying a home for the first time should check out national or state/territory-based programs that can help make the home and land package affordable. Home grant loans, first-time buyer programs, special offers for servicemen, and other schemes can help make the purchase more affordable.
How Should You Choose a House and Land Package
Your builder can offer a wide range of potential home and land combinations. Some clients get quickly overwhelmed by the full array of choices available to them.
It helps to look at selecting a home and land package purchase as a multi-step process.
First, put together a reasonable budget for the purchase. What can you afford to pay for the entire property? What monthly payments can you handle? Your builder may suggest using a mortgage broker to figure out the best deal possible for your financial situation.
Those who need to improve their credit can count on advice from the broker on what they need to do to save money.
Once you receive a pre-approval, you can start working with the builder to determine what style of home and which features you will want or need.
Make sure that you evaluate the area closely. Consider the quality of schools, commute times to work, the condition of the neighbourhood, and other important issues. Remember that this may be the most important investment that you ever make.
How Much Can Home Builders Customise a Home Design?
Home and land packages allow you and the home builders to work together and craft your dream home. Our goal lies in helping our clients to buy a home that meets as many of their wants and needs as possible.
When you purchase a package, you may select from a number of different features both inside and outside the property. These could include, but are not limited to:
- Walls painted to your specifications
- Selections of flooring, including hardwood and carpeting
- Selected kitchen appliances
- Other features
Champion Homes offers clients a great selection of options to help make your home perfect for your lifestyle.
What Else Should You Know?
Most home and land package buyers start considering what their future dream home will look like when they tour display homes.
Reach Out Today
Learn more about how Champion Homes can get you into the house of your dreams. Contact our professional and expert staff today to learn more about house and land packages to suit you. They can answer any questions as well as set up an appointment. Our team will work with you from the beginning of the process to the end to get you into the home you have always wanted.