Cambridge Homes prioritises quality and customer service in everything we do. Cambridge Homes will guide you through your home-building process, no matter how big or small your requirements are. We may build your home according to your specifications, or you can choose from one of our award-winning drawings produced by our team of architects. We are dedicated to customising your home to match your needs. Purchasing a house and land package in Hamilton rather than arranging for the buying and building your own home can benefit you in various ways! Continue reading to learn how you might benefit from this choice.
What Are The Benefits of Land House Packages?
Buying a house and land package allows you to look at house ideas that suit the specific square of land and get an idea of how it will sit on the block. A house and the land combo will almost always be a two-contract deal. A land contract for the acquisition of the land and a construction contract for the development of the residence.
Bonuses
There are numerous advantages to purchasing a house and land package in Hamilton instead of purchasing land and building a home independently. These are some of them:
- Thousands Of Dollars Will Be Saved: Since the house has yet to be built, you will only have to settle stamp duty on the land rate. For both of the scenarios above, financial lenders should be able to defer some of the charges.
- The pricing is stated clearly upfront: A crucial factor to consider for purchasers who have pre-approval for financing and are working with a limited budget.
- Time is money: Designing your own home, selecting inclusions, fittings, fixtures, and colours take a long time. You’ll save a lot of time if you buy a house and land bundle.
- The Method Has Been Simplified: The house layout is already planned to fit the block when considering driveway placement and sun orientation.
- It’s A Simpler Procedure: The construction builder can wait for you to pay the land contract before conducting soil and survey experiments to set site costs and conclude the contract or the builder can fix the site costs and generate the building contract around the same time the land contract is available. This is more economical because the lender may finance the house and the land at the same time.
Consider The Following:
- Lot Sizes Are Small: On tiny lots, many dwellings and land bundles are available. Examine your budget and consider whether you’d prefer a larger lot, as the developer will likely have other lots available. Check to see if the plot of land will fulfil your needs in the future, especially if you plan to establish a family.
- Location: Newer estates are typically found on the outskirts of the city, away from the CBD. Vacant lots in the city edge suburbs are relatively expensive compared to suburban areas; therefore, buying an existing home in the bulk of outer suburban areas is usually a better deal. This can be a problem because employment prospects and public transportation are frequently restricted in the suburbs, so you’ll have to factor in how long your daily commute will be, including traffic.
- Reduced Yield: It may be tough to sell your house and land combination for a profit if it is in a new estate. Because of weaker economic factors and a lack of infrastructure, the value of a home in the suburbs typically rises at a slower rate. Developers are offering new homes at competitive prices, making capital growth even more difficult to come by.
Consider your current and future living preferences, and weigh the benefits and drawbacks of buying a house and land package against designing your own home. If you believe a package would best fit your needs, the next step is to evaluate house designs in a desirable neighbourhood and select a trustworthy builder.
Please contact us right away to discuss how we can personalise and modify your land and house packages in Hamilton to fit your needs.