Everything You Need to Know About House and Land Packages in Sydney
02 December 2021House and land packages enable home property buyers to purchase land and a specific plan for constructing a new house on this land. For many home seekers, it can be difficult to accurately visualise their future home from the architect and builder’s plans.
This is why most experienced building companies have model homes on display for viewing. Interested homebuyers can view all of the aspects and potential options of their new homes during an in-person walk-through of these models.
What You Need to Know About Sydney House and Land Packages
Aspects and features of house and land packages in Sydney that you need to know to include the following:
- Included Features. The features that are included in a house and land package can vary according to the builder. You want to be completely clear about what options are included in your package before you purchase it. Otherwise, you may receive a rude awakening later when you discover that your package does not include a front walkway, driveway or glass window wall.
Quality builders typically offer several varied packages of home feature inclusions as well as your basic package. This enables you as the buyer to decide between a standard inclusion set or to go upscale and choose a premium set. Although this upscale choice will most likely cost more, if it provides a home feature that you really want or need, it can be worth the extra expense.
- Financing Benefits. You can enjoy significant cost savings when the two different components of your home building project are financed by different mortgages. You will pay only stamp duty on the land portion of your package sale price since the home is not yet built. Also, since the construction loan will be paid off in increments, you will pay interest only on the portion of the loan that has been used rather than on the total loan amount.
- Package Price. The pricing of each house and land package is determined by several aspects of the package deal. One major aspect is the size and location of the land involved. Another primary aspect is the overall cost of constructing and finishing the home style that you have chosen along with any optional features that you select. There may also be additional costs, such as developer covenant costs and miscellaneous on-site building fees.
- Fixed Price Quote.If your house and land package are offered with a fixed price quote, you will have one locked-in price. This single price includes the cost of both your land and your new home construction. You will not be surprised by additional expenses during the building of your house. In addition, you will have the peace of mind of knowing what your total cost for this project will be. There are currently some house and land packages available in the Sydney area with a starting price of around $400,000.
When you consult our experts at Olympia Homes located in Alexandria, NSW, you will receive top-rated information and advice concerning purchasing an attractive and valuable house and land package. Serving Sydney and all surrounding areas, our highly experienced residential building team will work closely with you.
They will ensure that your house and land package includes the ideal design and optional features to completely satisfy and even surpass your desires, expectations and needs for a beautiful new home property.
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