There are different property choices available in Australia. Because of this, it has become a hard decision to choose which property type will be acquired. However, for those who are looking for a brand-new property but not interested in apartment living, then a house and land package might be the most suitable choice.
In Donnybrook, Victoria, there are two types of house and land package choices. The first choice is to buy land and build a home on it, depending on the buyer’s desires. While the second choice is to buy an already completed house built on the land. The idea of acquiring a house and land package may be overwhelming, but there are good reasons homebuyers should choose a house and land package.
First-time homebuyer grants
For first-time homebuyers, the government has the First Home Owner Grant (FHOG), which varies depending on the state. House and land packages are considered a new property, qualifying the buyer for a first-time homebuyer grant.
A house and land package is an affordable investment. It also offers a higher probability of increasing the value of the property. On the later stages, it will increase in price and push the value up. For property buyers who acquire a property that is still under construction, the value of the property will go up even more as time goes by.
Opting for a house and land package is beneficial, most especially for young people who are planning to invest in a new home while trying to avoid any debt. Here, they will know that all costs and the expected time frame before the property can be turned over to them.
For investors who go for the house and land package, they are given the privilege of having full control from the very start. This is beneficial for the investor as they can customise the house to suit what their target market is looking for. They can select the specific block and house design. Finishes and upgrades can be done to make the property stand out.
Landlords are required to ensure that any issues in the property are addressed right away, and this makes investing in a house and land beneficial. Older houses require more maintenance and repair. While buying a house from an already established property might require unexpected costs such as building inspections and costlier renovations, a brand-new home built using high-quality materials is unlikely to have any issues.
Better for families
A house and land package is highly recommended for families with children. The property offers living and outdoor areas, which makes it possible for families to relax in their own backyard. Moreover, if the property is located in an estate, then it most likely has walking and cycling paths and parks, giving more opportunity for outdoor activities. This may also mean that parents can assure themselves that their children can safely play somewhere close to home.
Aspiring first-time homebuyers and investors may get confused while exploring the different possibilities and choices in finding the home that best suits them. House and land packages may not be suitable for everyone, but they might just be the right choice for you.