How Does A House And Land Package Differ To Buying A House?
February 14, 2021
Are you looking to start a family or get onto your first rung of the property ladder? Just because you’re starting out doesn’t mean you can’t aim for comfort and luxury.
With a Hunter Homes house and land package, you can combine a large lifestyle block with the most modern trends in architecture. designed living. For a house your family can truly call your home in the Hunter Valley, there’s simply no better choice.
What Is a House and Land Package?
If you want a new home build, rather than buying land to build the house, a more convenient and affordable approach is buying a house and land package.
House and land packages are common in the Hunter Valley, where households want to maximise the luxury lifestyle while only paying the price tag of a first home buyer.
How do they find this sweet spot of the venn diagram? Developers negotiate wholesale prices to lower the material costs, and leverage economies of scale for the most efficient labour cost.
As one of the most value-for-money options, a house and land package is likely to be the best investment you’ll make in your life.
The Two Types of Packages
There are two types of house and land packages, essentially defined by whether the sale occurs before or after the house being built.
For homeowners who prefer to move in straight away, choose a turnkey package. These have been put up for sale once the house is built and the property is ready for a family to move in. It’s the most hassle-free new home build on the market.
If you prefer to be involved in the building process, you can separately choose the block of land and the house to be built on it.
Developers offer a set of standard house designs, with further customisation options. This gives you the opportunity to choose the unique house design that best suits your lifestyle needs.
Where Are the Differences?
What are the real differences between buying a house and land package or an existing house? The key difference is how the financing works.
Though house and land packages are advertised as a single final price, they are a package deal that comprises separate prices for the land and the house on it.
What’s important is that you have a contract to buy the land at the same time as the contract to buy or build the house. Though they are bundled together, this technically needs two separate loans, unlike the single mortgage loan used to finance an existing house.
Other differences include the option to buy the new home build at the start of the building process, and the fact that you are dealing with a single entity with end-to-end expertise, from home design to interior design.
A House and Land Package for You
Though it may seem confusing at first, a house and land package may be the answer you were looking for. For a luxury lifestyle affordable for first-home buyers, contact Hunter Homes. We’re here to explain all the details and help you make the decision that’s right for your future.
With love from HH.