The term “house and land package” is used by property developers to refer to a property deal that includes a new home and the land on which it is built.
There are many developers offering house and land packages in Townsville, Australia, and not all offers are alike.
The house and land package you choose is one of the factors that determine your quality of life. With so many deals to choose from, how do you narrow down your choices? Here are some factors that will help you make smarter decisions.
1 | Type of House and Land Package
House and land packages come in two types: one allows you to select a block of land of your choice then select from several standard or customised home designs; another includes a fully completed new home already built on a parcel of land.
Selecting a block of land and choosing a builder is generally more affordable, however typically you are required to have your house built within two years. Turnkey packages, though potentially more expensive, already include features such as gardens, landscaping, gates, lighting and utilities.
2 | Needs and Budget
It’s easier to narrow down the perfect home when you have an idea of what you are looking for. Whether you are buying the property for yourself or your family, take some time to figure out how you want to live in your new home and how much you can afford.
Can you commit to construct a new home from scratch, or do you prefer a ready-built house? Which neighbourhoods are closer to, say, your workplace or your children’s school? How much lending capacity do you have with your bank? Use the answers to these questions when looking at all the different offers by developers.
3 | Home Financing
Finance plans depend on the type of house and land package. Some packages usually require a down payment, but there are other deferred payment options if you have to wait for your house to be constructed. When taking out a loan, remember to get pre-approval before entering into a deal with the property developer.
4 | Developer’s Credentials
There are many trustworthy developers, but the only way to ensure that you’re in good hands is by looking at their track record. Search online for reviews and see what their current and previous clients think.
5 | Getting a Feel of the Home
Although you may be looking at online listings, it’s still best to make a site visit. This allows you to see the neighbourhood and estimate the travel time between your potential home and potential destinations such as work places, schools, shopping centres and hospitals.
For many, a home is a significant investment that should not be taken lightly. Be practical about your current and future budget, and you will find a house that you and your family will enjoy living in.
Choose the Lifestyle You Want at M Land by Maidment Group
Maidment Group founded M Land to lead their real estate projects across the country. Currently, homebuyers can choose to buy house and land packages in one of these M Land projects: Harris Crossing, Sanctum, and Eden Park.
Let us help you find a property that best fits your lifestyle. For any enquiries about our packages and services, call 07 4721 2822.