House and land packages — why buy one?
There are many reasons house and land packages are so popular today, but topping the list is probably price.
House and land packages offer an affordable housing solution for buyers, with some packages starting from as low as $370,000 in Victoria.
Throw in the convenience and ease that comes with this building approach, not to mention the benefits attached to owning a new home (there’s no need to renovate or repair things before moving in), and it soon becomes obvious why they are such an attractive housing option.
House-and-land packages provide versatile designs to suit buyers at any stage of life, including first-home owners, couples, families and downsizers.
Here, two housing-industry experts expand on why they are a good choice.
Stockland project director Kerry Balci said a house and land package was generally more affordable than a custom-built house and provided better value for money than existing homes in the surrounding area.
“If you are early on in your home-buying journey, house and land packages will also give you a good guide as to what you can expect to get for your budget,” Ms Balci said.
“This can help if you wish to speak to a bank or mortgage broker to help establish a budget that you can afford.”
And, today, other factors, such as stamp-duty concessions on new homes and government grants for first-home buyers, make house and land combos even more appealing, she added.
Metricon’s Victorian sales manager, Drew Glascott, said buying a house and land package would help streamline the buying process and reduce unnecessary risks that could occur when trying to match your dream home with your dream block of land.
“Assessing land for suitability can feel overwhelming and it’s easy to make errors of judgment if you haven’t done thorough research,” Mr Glascott said.
“An experienced builder is going to know very quickly what block attributes are best suited to the home you’re after — things like its fall, fill, soil conditions and landscaping potential.”
Stockland project director Kerry Balci said house and land packages also provided buyers with the extra comfort of knowing the house had been expertly selected to suit the design guidelines of an estate and would create pleasing street appeal.
3. Fixed pricing
There’s no fussing about negotiating separate costs for the house and land components when buying a house and land package because it has been bundled as one.
Ms Balci said knowing what everything was going to cost upfront made navigating the building process a lot easier and less stressful and allowed people to plan their budget more wisely.
“The cost doesn’t change, so there are no nasty surprises down the track,” she added.
Mr Glascott said some of the hidden costs that could occur in other builds that you didn’t have to pay extra for with a house and land package included soil and contour tests, excavation and drainage, earthworks and certain site costs.
“Nothing can derail a home project faster than burning up money on unanticipated costs,” he said.
4. Access to good blocks
Mr Glascott said most volume builders had established relationships with land developers, which put them in a better position to negotiate on good blocks of land.
“A reputable volume builder has much stronger negotiating power than your average individual,” he said.
“We negotiate on blocks of land all the time and have close relationships with land developers, so we are able to offer customers the best blocks for the best price with the best terms.”
Volume builders also had a strong understanding of what buyers wanted from a new home — the type of house they’d like to live in and lifestyle requirements — making it easier for the builder to work with the developer to pair a suitable house with a suitable block, Mr Glascott said.
If you wanted a speedy gateway to a new home, then a house and land package was the way to go, Mr Glascott said.
“We can issue the building contract faster with this building option, usually within two weeks,” he said.
House and land packages can also work for those who are still trying to save for their deposit.
“If we know a buyer needs more time to save for their deposit, we can help them select a block in the estate where land has a lengthier window to title,” Mr Glascott said. “This is particularly useful for first-home buyers.”
6. Community spirit
House and land packages are usually in residential estates.
Ms Balci said buyers would benefit from the sense of community and features, including shops, schools, parks and bike paths, designed to make residents’ lives easier and fun.
“Our masterplanned communities are highly liveable and provide plenty of opportunities for active and healthy lifestyles,” Ms Balci said.