New House and land packages have been widely used in Australia as they are considered to be a convenient and cost-effective alternative when building a house. These packages are a simplified option for those seeking to invest in the property market. Investing in a new house and land package will locate you amongst the growing suburbs of Sydney. Buying land during the growth period will mean that your property will gain value as more infrastructure and amenities are built around it.
Here are the Top 5 Benefits of New House and Land Packages:
Flexible Design
House and land packages come with many home designs that investors can choose from. From these designs, further changes can be made to the design as per your needs. An array of options means that you can customise your home to suit your personal preferences with various different sizes and layouts available.
Whether it is to make the ceiling higher or expanding the size of a bathroom, customers can also choose to add on features to make the house more comfortable as well as maximise the investment potential. House and land packages are one of the easiest ways to buy a brand new house that is custom built to suit your or potential tenants’ needs. See the range of House and Land Packages we offer around Sydney’s North West, West, and South West suburbs, and see why you should choose us when building a house to either live in or hold as an investment property.
Ready to Build
The building designs at Meridian Homes are checked for council approval so the house you choose, can be built straight away. If you’re considering revisions and customisations, we always cater to your liking, being as flexible as possible to achieve your dream home, within budget. Due to the checks being performed ahead of time, the process is much smoother for buyers opting for a house and land package rather than buying land, finding a builder, and creating a plan.
Grants
If you are buying your first home, you may be eligible for the First Home Owners Grant, which entitles those building a new property to a $10,000 grant on homes worth up to $600,000. With a house and land package, stamp duty (tax paid to have a property transferred into your name) is only paid on the land, leading to additional savings of what can end up tens of thousands of dollars.
Other perks that come with the first home owners grant include claiming tax deductions on new assets that will depreciate at a faster rate than older assets. These deductions mean that the investor will have lower out of pocket costs.
Not only do you save money with grants that are available, but in general terms, a house and land package provides better value than a pre-existing house. In fact, studies show it’s 14% less expensive to build, and while 14% may seem like a small number, that is a big saving when we look at the price of houses in 2020.
Attract tenants
Having a newly built, high quality property will attract long term tenants, and will give you the ability to hold onto long term tenants at fair rental prices. House and land package properties are usually located in areas with amenities and infrastructure, and thus you will be able to provide a whole lifestyle to your tenants, not just a new house.
Minimal Maintenance Expenses
Buying a brand new house will mean that you will have a warranty if there are any issues, and it will be easier to lease as it is likely to have few maintenance issues. Buying an existing property will inevitably come with faults and mishaps, that you won’t be aware of until after you’ve made your purchase.
Having an older structure may be subject to wear and tear or even just outdated in style, which is unlikely to attract tenants. New homes are built to higher, and stricter standards than in the past, which means that reputable builders will use high quality materials and your property will be built to last.
Ultimately building and taking advantage of all the benefits new house and land packages have to offer is the smart investment, not only in monetary terms but also for peace of mind reasons. To view our extensive range of house designs click here, or more information on what to do next, see our 5 Step Process for Buying Affordable House and Land Packages. You can also contact us and one of our team members will get back to you with any questions you may have.