Nowadays, buying a house and land package has become a popular way of owning a residential property. Essentially, there are two types of houses and land package. The first type is when you purchase a lot and construct a house on it. The second type is when you buy a house and land package in which the house is already built on the land, and you’ll be ready to move in. Due to the nature of this package, you can take advantage of this economical route to homeownership.
Below are the top four advantages of buying a house and land package:
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You Can Get A Fixed Price And Save Money On Overall Costs
When you opt to purchase a house and land package, you can take advantage of a fixed price. In most cases, the price is upfront, which means you’ll be aware of the costs from the start.
Unless you request additions or make changes in the pre-planned home designs, you can ensure your build price is fixed. As a result, you can have peace of mind knowing your house and land package are within your budget.
Aside from the fixed price, purchasing a house and land package can also save you some money on the overall costs. When you get a land and build a dwelling in it by yourself, you may need to spend a considerable amount of money by hiring landscapers, suppliers, and other building contractors.
However, when you opt to buy a package, you can lower your overall costs because no additional expenses are needed. All you need to do is choose a block of land and a home design and then pick a builder who will construct the house for you. Once it’s done, you can get the keys and get ready for moving in.
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You Can Have Access To The Best Locations
Traditionally, some of the best blocks of land are offered first to the builders before the general public has the chance to see it for themselves. When this happens, you can ensure that the block of land you want to take has already been given to the builders or other homebuyers. This is where the purchase of a house and land package enters the picture.
When you buy this package, you can have access to the best blocks of land. It can allow you to choose from better land choices that you would probably not be able to buy on your own.
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The Buying And Construction Processes Are Easier And Faster
Unlike organizing the land purchase and construction of a house on your own, buying house and land packages from reputable providers is much less stressful and hassle-free. The provider will take the stress away from you because everything is planned right from the start. For example, you can benefit from the land, the architectural home design, and the potential inclusions when you get this package.
Instead of making complicated decisions by yourself, such as choosing inclusions, negotiating tenders, and finding appropriate trades, getting a property package can make the home buying and building process much easier and faster.
Typically, the buying and construction processes involved in a house and land package are completed with the following steps:
- Finding a package that will suit your needs;
- Discussing your chosen home design with the package provider;
- Paying a small deposit to secure the house and land package of your choice;
- Signing a contract;
- Picking the fittings, colors, and fixtures for your new dwelling;
- Finalizing the plans;
- Building your new home.
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You Can Be Eligible For Deductions Or Grants
Purchasing a house and land package can also allow you to get some deductions or grants. For example, if you’re buying a package in Australia or wherever you may be located, you may receive stamp duty concessions and grants as first home buyers. In short, eligible first home buyers will no longer pay stamp duty on vacant land valued at a certain amount. They will also receive concessions on stamp duty for a vacant lot priced at a particular amount.
Moreover, investors buying a house and land package may also avail of a specific tax deduction since newly-constructed dwellings nowadays come with a faster depreciation rate than old homes.
Bottom Line
Purchasing a house and land package can be a perfect way to own the home of your dreams. Unlike the traditional process, this package allows you to build your dwelling place without too much stress. Therefore, if you want to give the house and land package a try, keep these top advantages in mind to help you make an informed decision. That way, you ensure you get the most out of your home purchase for you and your family.
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