Are you considering building a new home but not sure where to start? If you’re a first home buyer, it’s easy to get lost in the process. Setting a budget, choosing a block of land, designing your home, securing finance… there’s so much to do! Buying a house and land package in Western Sydney offers a convenient and cost-effective way to secure the property of your dreams. When it comes to buying a quality house and land package, we hand select only the best blocks in the most popular estates and package them with our luxury, contemporary home designs. If you’re interested in buying a new home and are considering a house and land package, this guide will provide you with the information you need to choose the best deal and secure your dream home.
What Is A House & Land Package?
The vast majority of new home blocks these days are bought by property developers who acquire available land when it’s released by the government. These developers lay down infrastructure such as roads, utilities, water and sewage to create functional areas suitable for housing. Once the infrastructure has been installed, the developers sell the land to home builders such as Meridian Homes. Rather than separating the assets, the home builder will package the land with a completed house and sell them as a bundle. A house and land package enables the buyer to choose a block of land and one of the many standard or custom home designs simultaneously, saving them time and money. The bundle provides all the benefits of purchasing a new home, with low maintenance costs and no major repair expenses in the foreseeable future.
Advantages Of Buying A House & Land Package
Perhaps the biggest advantage of purchasing a house and land package in Western Sydney is convenience. Instead of searching for a block of land and spending hours online trying to find the best custom home builder, a house and land package enables you to tick both boxes and maintain a single point of contact throughout the whole process!
Affordability & Cost Savings
House and land packages in Western Sydney tend to be cheaper than already established homes. They generally include fixed prices with set inclusions, allowing you to forecast the overall cost of your new home prior to building commencing. This ensures that you won’t encounter unnecessary financial strain due to unforeseen costs that exceed your original budget. Bundling house and land together usually means developers are in a position to offer great deals to buyers. Builder’s will typically bundle inclusions that deliver you greater discounts by negotiating bulk deals with suppliers.
House and land packages provide an affordable solution for first home buyers and young investors wanting to enter the property market. Some buyers may even be eligible for the First Home Owner Grant and stamp duty concessions. In NSW, eligible first home owners buying a vacant block of residential land pay no stamp duty on vacant land valued up to $350,000, and receive concessions on vacant land valued between &350,000 and $450,000. The government also provides first home buyers with a $10,000 grant for building a home that is up to $750,000 in combined land and property value.
Purchasing an established home can be fraught with the dreaded pitfalls of maintenance
When purchasing a house and land package, you don’t have to worry about repair and maintenance costs. The building, fixtures and fittings are covered by the builders guarantee for a set number of years, while a new home has significantly lower running costs and upkeep. Rather than applying for two separate loans, a house and land package makes it easier to secure finance by combining the purchase of both assets into a single, more affordable loan.
House & Land Packages: Things To Consider
Before buying a house and land package in Western Sydney, you must first consider the location. Because developers need a large tract of land in order to build an estate, house and land packages are typically available on the outskirts of town. Before you sign on the dotted line, think about whether your chosen property is close to schools, parks, transport, healthcare and recreational facilities. Make sure the location of your new home gives you access to everything you need.
Do you plan on having children in the coming years? Do you intend on regularly entertaining family and friends? These are the questions you must consider before buying your new house and land package. For example, if you enjoy hosting social events on the weekend, investing in a home with a spacious living and entertainment area might be a good idea.
Speak to your home builder and ensure you’re aware of what is and isn’t included in the construction of your new custom home. A common mistake made by home buyers is that they assume everything is included in the initial contract price, when in fact things like driveways, fences and even additional power points may be charged at an additional fee.
At Meridian Homes, our house and land packages are a convenient and cost-effective way to build your next home. Our experienced custom home builders are committed to helping you turn your dream home into a reality. See for yourself our exquisite home designs by visiting one of our fully-furnished Marsden Park display homes, or contact our friendly team of experts for more information.