Why a House and Land Package
Why a House and Land Package?
If you are looking at buying a home you are generally faced with a couple of basic decisions.
Do you buy an established, pre-lived in home, do you buy ‘off the plan’ as is the case of a unit or townhouse that is yet to be built, do you have a home designed for you, or do you buy a House-Land Package.
This first alternative suits if you want access within about 30 days. However the pitfall is – like buying a used car, you run the risk of buying someone else’s problems or paying too much.
The second possibility involves buying something totally unseen. The unit doesn’t exist and you may have to wait until a certain number are sold before the developer can commence building. Plus you have to be happy with paying body corporate fees regularly and live in a group environment.
The third alternative can be expensive, with Architects fees and a home that could ultimately well exceed your budget.
A solution is a House-Land Package. Here, the builder can offer you one of its designs, modify it or work with you to produce a home that is more in keeping with your lifestyle and importantly, your budget.
The package is put together as a combination of a land contract for your selected block and a building agreement for the construction of the agreed design. You also have the ability to view the workmanship of your selected builder by inspecting their display home or asking for referrals.
The advantage of buying a package is stamp duty is only applicable to the land content, which can be a significant financial saving. In the case of qualified first home buyers the government offers various concessions or incentives. Stamp Duty is not payable on the land content, and, until December 2017 the First Home Owners Grant is available at $20,000.
Check your eligibility at : https://firsthomeowners.initiatives.qld.gov.au/
So the advantages in buying a house-land package are:
- You will end up with a brand new home, often tailored to your personal requirements and built with the latest in design material, tiles, floor-coverings, cabinetry and electrical appliances. The big plus is – it comes with a mandatory 6 year structural warranty.
- You can elect to defer certain items if you choose to save some initial costs if you want to do them later.
- There can be financial savings to be had.
Building a new home is a journey. In order to achieve the best result you need to be well informed about what to expect to avoid any nasty surprises. Establishing a realistic budget will enable you to focus on a package that meets your personal and financial goals.
Working with a trusted financial advisor will make the process quicker, easier and give you the information you need ensure you cover all the bases. Amrock can point you in the right direction as we only deal with reputable advisors. There is no cost to you and you get the right advice.
Making the Package
At Amrock you control the options. Once you decide where you want to live we will present land that we can source in the area and create your package.
Knowing what your financing will allow gives you the flexibility to tailor the home to suit your budget. We have a large range of designs to suit different lot configurations or can design your home specifically for you. We offer a complete range of inclusions and you can nominate the ones you want to complete your package. These will be detailed in our comprehensive specification.
Once the lot has been secured and the home design decided upon contracts are prepared for you to submit to your preferred lender. Once they have processed this information they will issue you with a loan approval subject to final approved drawings.
With finance approved and all required building approvals received and approved by your lender we move into the construction phase. Build times vary from 12 to 18 weeks depending on the lot and house design.
We are here to guide you through the building process from start to finish and our friendly staff are only a phone call or email away to answer any questions. To help you monitor the progress of your home our website has a Client log in that is updated with photos of your build on a weekly basis so you can track its progress from where-ever you are.
We pride ourselves on our stringent quality control to ensure that your completed home is to your satisfaction. Processes have been put in place to guarantee that your finished home is completed to the highest building standard. Our site managers monitor the construction progress and ensure it is on schedule and all quality targets are being met.
Once your home is nearly completed the final stage is reached, At this point our site manager arranges a pre-handover inspection with you to go through the home to fine tune any final items. The timing of this meeting allows you to organise things like removalists and services.
Approximately two weeks later the home will be handed over. Your financier and the Building Certifier in the meantime will have made their final inspections and signed off on the construction.
On an agreed day the site manager will install your house locks and you will receive your keys and any maintenance items will be explained. You and your family are now able to move into your new home.