Families and young couples still have difficulty finding an affordable home because of the exceptional property price growth, undersupply in many parts of Australia, and stagnant income growth. In Sydney, Melbourne and Perth, a regular first-time house purchaser can only afford to purchase about one-third of all houses in Australia, according to Canstar. Homebuyers are being forced to make concessions in the location, kind, and number of bedrooms they can afford to afford a home for the first time. However, house and land packages in Kellyville are still a popular and cheap alternative for many buyers who want to get into the real estate market, despite the current economic climate.
Research suggests that 25% of Australians who plan to buy their first home in the next five years will opt to build their own house. On average, creating a new home is less expensive than purchasing a ready-to-move-in home, with savings of approximately 14% in Australia. The housing affordability crisis can be alleviated through the utilisation of house and land packages.
All-inclusive house and land deals
The purchase of a house and land bundle can be accomplished in one of two ways. If you’re looking to buy a property and a pre-built home, a turnkey purchase is the best option. In most cases, you’ll put down a 10% deposit, and you’ll agree on everything from the pricing to the design to the construction schedule. In exchange for your final payment, they’ll hand you the keys to your brand-new home. The builder is responsible for 90% of the cost, so the turnaround time is usually quite fast. Because of the fixed costs and constraints on construction, they do not allow you to pick your ideal location, and the number of design possibilities is frequently restricted.
Home and property
With home and land, things are different. You acquire the ground, then pick what to build there. When you buy land, you’ll pay a deposit and then pay for several stages of construction through a building contract, such as the base stage when the frame is up and the lock-up stage when the building is entirely boarded up or covered with a roof. The fixtures stage comes next, and finally, the finishing stage comes after.
Fear of building a home has always inhibited purchasers from acquiring turnkey solutions from builders/developers, but the tables are now shifting as technology has improved. Customers are given the tools and platforms to make their own house and land package decisions in various new ways. As a result, consumers are no longer constrained to acquiring a plot of land with a pre-existing house plan. Customers can switch land locations with house designs and pick their builder under this strategy because it puts them in charge. For first-time homebuyers, this must be a wonderful thing.
Are there any advantages to purchasing a house and land package?
You can select the design that best suits your needs.
Customisation options are available with house and land packages. With 72% of homebuyers saying they want to customise their space and structure, this allows you the freedom to do just that. It is one of the quickest and most convenient ways to buy a home that can be customised to meet the needs of a family.
There is no ambiguity about the costs involved.
For buyers who have pre-approved financing, the price of a house and land package is usually evident upfront. Professional interior designers and architects are often involved at every step of the design process to assure a high-quality outcome without incurring the costs of consulting fees.
Buying power is now in the hands of consumers, thanks to technological advancements.
In today’s market, homebuyers have a wide range of options when it comes to choosing a plot of land, designing their dream home on it, and hiring their prefered builder. Every step of the process is in the hands of the customers.
Cheaper by up to 14%
To get a better deal, buy a house and land package rather than an existing house in the same neighbourhood. On average, it costs 14% less than a ready-to-move-in property in Kellyville.
First home buyer grants
The First House Owners grant may be available to you if you are purchasing your first home. First-time homebuyers in each state and territory can take advantage of various incentives, including tax credits and rebates, to help them buy a new house or land to build on.
Benefits to investors
Buying house and land packages in Kellyville comes with a warranty if something goes wrong. It will be easy to rent, and there would be less or no maintenance costs. As a result, you can demand most of the devaluation quota on your tax return because new properties degrade quicker than present ones.