A house and land package can be the perfect way to get exactly the home you want while also starting your property investment journey without the hassle of sourcing your own block of land. More specifically, a house and land package can give you the simplicity of parceling your block of land and home into one purchase so that you can get the home you desire with as little stress as possible.
If, like many before you, you have decided a house and land package is the right move for you, here are the important things to consider and keep in mind when searching for the right house and land package for you.
1. Location, Location, Location
This specific consideration appears in every single type of property investment option. There is nothing more essential to the future growth of your investment than that of its location. So, the first thing you need to consider is the specific location of the package itself. Specifically, how close is it to your place of employment and other convenient places, What schools are in the area and what are they like, what infrastructure such as shops and public transport are located nearby, what are the areas property trends and can you reasonably expect the value of that block to appreciate over time? The answers to these types of questions are going to determine whether or not that block is the right investment choice for you.
2. Cost Inclusions/Exclusions
Now that you have found your ideal block of land, you are going to want to make sure that you can comfortably afford not just the land, but the home that you want to build on it. This means that you need to find out from the builder what costs are included within the priced quote and what might end up costing you extra. Some examples: your home may come with standard ceiling heights, but if you want these raised you can expect to pay more. Most importantly, check the fine print on your quote, get a second opinion and be informed about what you are agreeing to. A reputable builder should be able to provide you with a detailed breakdown of your costs, materials and other information on the fixtures and finishes of your home build.
3. Construction Timeline
What is the builder’s proposed construction timeline? The answer to this will let you know how many months it will be until you can expect to move into your new home. You will want to make sure that you get this timeline in writing. You will also want to find out more about the specific construction process and what to expect in regards to inspections and walkthroughs prior to you moving in.
4. Builder Reputation & Experience
We mentioned ‘reputable builder’ above, and what we mean by this is an experienced builder with excellent past references and a well-respected name. There are so very many different builders available to you, but unfortunately, not all of them have your best interest in mind. You need to be careful about who you select and ensure that you shop around for the builder that right for your specific needs. Read reviews and testimonials from past clients and even ask the builder for references so that you can speak with them directly about the builder’s work.
5. Design Options
One of the best features of a house and land package is that it gives you the freedom to customise a home design that best suits your needs and wants. But, when it comes to new homes, depending upon the builder that you choose, the design options available to you can vary in regards to how many different floor plans and design choices they make available for any given block or development. You are going to want to make sure that that builder you choose will be able to build the home that you want not just what is easiest.