What is House and Land Package?
Cranbourne is a suburb in Melbourne, Victoria, Australia. It is located 43 kilometres south-east central business district of Melbourne. Based on the 2016 Census, the suburb has a population of 20,094.
Cranbourne has taken massive transformations since the 70s without showing any signs of slowing down. It boasts a top-rated Golf Club, large commercial centre, good schools, plenty of nature reserves, and excellent public transportation. It is also home to Royal Botanic Gardens Victoria.
Cranbourne is the 2764th best-performing suburb based on capital gains, allowing property investors to earn 3.03%. It is one of Melbourne’s most affordable suburbs for property investment, where you can acquire a house for as low as $540,000 and a unit at $386,000.
If you are a first-time buyer, acquiring a house and land packages in Cranbourne could be a wise option. This option offers tax savings, competitive prices and allows you to customize the way things look.
House and land package
In this option, you can secure a block of land and home construction in a single process but with two contracts. This is one of the best choices as it will let you know the combined price of home and land from the beginning.
You will have two different contracts for the construction and the land you are buying from two different entities.
Inclusions of the house and land package
If you are acquiring a house and land package, you are buying land from a developer, and then you will choose a builder and the design of the house. Each builder and house are different, so you need to find out what is and what is not included in their deal.
Usually, a new home includes a fully fitted bathroom and kitchen, doors, windows, built-in robes, fans, stairs, tiles, electrical points, and TV and phone points. Many interiors design components will have an extra cost, including fencing, driveways, and landscaping.
Some builders also offer additional inclusions based on the style and price of the house. They may include tiling and carpets throughout, stainless steel appliances, or stone kitchen benchtops. They may also include fencing, driveways, and landscaping, depending on the house and land package you will purchase.
Stamp duty, taxes, and other expenses to consider
Other expenses, such as registration fees and stamp duties, won’t be included in the price when buying house and land packages in Cranbourne. You may also need to get a legal representative to work with the builder and the developer and all the property purchases to make sure that all council and regulatory needs are met.
As a homeowner, you need to contact utility providers, set up your home account, and arrange your water, gas, power, and internet connection. Once you have acquired the land, you are also responsible for your property’s maintenance, such as clearing it from debris, overgrown weeds, rubbish, and other materials. The council conducts site inspections of houses under construction and issues fines to the owners with dirty lots.
Compared to buying an established home, getting a house and land package needs a bit of imagination and a lot of good faith. Since everything will start from scratch, you cannot exactly tell what you will get by the time that you are picking up the keys. However, this will allow you to have everything you want in your home as it is fully customized, and all you need is regular construction visits to make sure everything is in proper places.
Author bio: Steffy Alen is a copywriter and content strategist. She helps businesses stop playing around with content marketing and start seeing the tangible ROI. She loves writing as much as she loves the cake.