The term ‘house and land package’ seems simple to understand but knowing the ‘what it is’ and ‘what it is not’ needs some explaining. The journey to a dream home in the perfect location can take time and patience. To up the fun factor in the journey, read on.
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Combining a home with a land loan into one package can be more cost-effective. So let’s look at what you can expect from this option.
What Are House And Land Packages In Canterbury?
With a house and land package, you get a piece of predetermined land and the construction of a home. It’s one process, but it is represented in two separate contracts. One contract is for the land (from the developer or vendor), and the other contract is with the builder. Sometimes the builder can also be the seller of the land.
How to buy a house and land package in Canterbury?
The combo package is usually bought through a developer. Sometimes there is a selection of builders to choose from, but usually, there is only one or two. You also need to select the home design from their portfolio of options. Some deals might be for semi-custom designs, but in most instances, there is a small curated selection of design options.
Each house and land package differ, so it is important to read the fine print, all of it, to find out exactly what is and isn’t included.
You could expect standard inclusions such as a fully fitted kitchen (check whether fully fitted means cabinetry or cabinetry and appliances), bathroom, windows, doors, built-in wardrobes, power, TV, USB and phone points, fans, stairs and tiles.
Be aware that there are a number of elements that will cost extra, e.g. driveways and landscaping.
House And Land Package Display Homes
It is very important to visit the display homes of the house and land package estates.
Once you have found your preferred design, it’s time to meet the builder. Here are some helpful questions to include in your meeting:
- What is included and what isn’t
- Display homes feature the best fittings, finishes and appliances – in the house (name the house reference number). Which items displayed are not included in the standard package?
- Are layout changes allowed? What will the cost implications be?
- When will the building start? How long will it take before hand over of keys?
- What is the cost of power, water and gas currently? What green alternatives are there to these in the design?
- Are there examples of houses the builder has completed in the last two years that can be viewed? Ask the owners if they are happy with their house.
- Is the builder licenced and insured?
- What checks have been done on your specific lot for its suitability for the preplanned houses?
Next, you move on to checking other costs.
Taxes, Stamp Duty And Other Costs
A house and land package comes with statutory costs, e.g. stamp duty and registration fees. These are not included in the sale price, nor is the cost of a legal representative to:
- To ensure council and regulatory requirements are met.
- Liaise with the developer and the builder
You will also have connection costs for power, water, gas and internet, as well as the responsibility to set up and conclude the connections with utility providers.
You will also be responsible for ensuring, during the project, that the lot is kept clear from overgrown weeds, debris, rubbish and other materials. The builder may say he is going to do it, but you are responsible (in Council’s eyes) for making sure it gets done.
The last word of advice is to get a solicitor to check over all your contracts, including warranties, contractor insurances, plans and specifications.
At Fair Dinkum, we offer preplanned, custom and semi-custom design options for your dream home and land package in Canterbury. We have years of experience with all three ways of designing and have a huge portfolio to show you. Call today.
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