No matter how you choose to do it, buying a property is an expensive undertaking. 

Whether you’re an investor building up a real estate portfolio, or you’re someone who is hoping to get on the property ladder for themselves and their family, choosing the right home in the right location is crucial.

Achieve Homes House and land packages are an alternative to the traditional method of simply taking out a mortgage on an existing home.

However, what makes them different, and are they a good choice?

Get The Home You Want

House and land packages give you the chance to get a new home, made to your specifications. 

Property developers buy up land as it is released onto the market by the government. 

The government requires developers to build houses on that land, and it is sold as a house and land package.

As a buyer, this means that you pay a single price for the land and for the developer to build a house on it. This is known as a ‘turnkey’ property. 

Most developers will have constructed several of those properties in the past.

This means that there is no stress for you as you won’t have to worry about things going wrong during the build, feature creep, or underquoting.

You’ll have a clear idea of exactly how much it will cost for the house to be built, and how long the build will take.

Custom Features and Extras

One thing that you need to be aware of when you buy a house and land package is that you will have to pick out each and every part of the home. 

This can be both a benefit and an annoyance.

The display homes that give you an idea of what each design will look like will have been carefully staged and will have nice appliances, tiles, a custom driveway, etc, to make them as appealing as possible. 

However, the basic property will be more or less bare-bones.

The level of customisation available is both a benefit and a potential disadvantage as you could end up paying far more than the basic price if you buy all of the extras.

Run the numbers carefully to make sure that you can afford the home that you really want.

Easier Finance

The good news with house and land packages is that financially, they are simpler to deal with. 

When you take out a house and land package loan, or a turnkey loan as they are sometimes called, you get one loan with the same lender, and you can take advantage of a number of concessions when it comes to stamp duty and tax as a result. 

You deal with less paperwork (because you’re working with one lender) and you have just one payment to worry about. 

The process is smoother and simpler, and at the end of the build, you get to walk into the exact home that you wanted.

However, you will need a deposit. The bigger the deposit you can put down, the better. 

While it is possible to borrow 90 to 95% of the value of the land and property, if you do so then you will have to pay much more interest and may also be told to take out insurance on the loan. 

You can save a significant amount in long-term fees if you are able to put down a bigger deposit on the property.

Before you make an investment, you should seek professional advice and make sure that you know exactly what you can afford. 

Make sure you fully understand all the other fees that will come with the house and land package so that you can budget accordingly.

If you are searching for the best builder in Canberra to build and design your dream home, then look no further than Achieve Homes.

We build real homes for real people. 

Achieve Homes is one of the most trusted builders in Canberra and the surrounding NSW region.

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