Are House and Land Packages Worth It?

 

Are House and Land Packages Worth It?

✅House and land packages are all done for you.  It's easy to see the appeal of a brand new house with little effort.

✅There are also many pitfalls to know, which must be considered to determine if they are worth the money or not.

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House & Land packages can be done cheaply

✅House and land packages can go for a significant discount to major city median house prices.

✅Save on stamp duty.

✅First Home Owners Grant is only available for newly built homes.

Drawbacks of a house and land package

The hidden costs

✅Landscaping for instance.  Make sure you speak to the builder about what exactly is included in the build and what you'll have to pay for yourself.

✅Then do your homework to see if the house and land package you are looking for is still actually worth the price.

Starting costs

✅Remember the price you see in the brochure is the starting cost.  Every time you make an addition or alteration to the original design it will cost you more - and these can be significant!  Be sure to discuss all of these changes with the builder and mortgage broker before you start the project.

Houses are built very close together

✅Land sizes can be small in these new estates, which is how they keep the costs down.

✅On average expect to get less than 400 square metres of land with your purchase.

Location, location, location

✅Most new estates are pushing into the far outer suburbs.

✅How much money and time are you willing to spend on travelling to work?

✅Is the new suburb near transport lines?

Get a pre-approval

✅Speak with a home loan consultant before you start shopping for a house.  Know exactly what is your maximum spend before you start haggling for upgrades etc.  Mortgage Broker Revesby will do this free of charge and get you buy ready.

Talk to us about your home loan - free service

Matthew Stack

matthew@mortgagebrokerrevesby.com.au

www.mortgagebrokerrevesby.com.au

0423 237 242

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