House and land packages are emerging as one of the most affordable means by which to purchase a brand new home. These packages are offered primarily by some of Australia’s most reputable home building companies and provide buyers with the flexibility to either choose a completed house on a generous block of land, or commission the construction of a somewhat more customised home on a block of their choice. The budget of a buyer will typically have some bearing on which of these options is chosen, however it is undeniable that house and land packages are amongst the best value home buying options.
How are homebuilders able to offer such affordability?
House and land packages are of such significant value for a number of reasons. The quality and price of each package will inevitably vary between companies, however the more reputable companies offer the best value and listed below, are some of the reasons for this.
Usually, housing companies will buy large plots of undeveloped land as they become available on the property market and the size and financial stability of these companies is an important aspect in this stage of the process. The firms then subdivide the land into blocks upon which homes can be constructed. Following this, they install the necessary infrastructure; namely sewerage, water, roads and electricity, so as to ensure that the homes are accessible and convenient. In completing these stages collectively for all the blocks, the building companies are able to substantially reduce their expenditure when compared to undertaking each step individually.
- Buying Power
It is clear that in obtaining the land in the abovementioned manner, an advanced building company would already have saved a considerable sum of money – the benefits of which are evident in their market prices. A good company however, will continue this trend of economic efficiency throughout the construction stage. Buying the land is only a fraction of the process and a great deal of money is still required to sufficiently develop it. This is where the companies’ buying power is important. Buying power refers to the extent to which a building firm is able to source quality materials for a reasonable price. The best building companies will have substantial buying power and as such, have the capacity to construct homes from high quality materials and components, for a mere fraction of the cost that would typically be charged.
Not only are effective building companies able to save money in the purchase of their land, but they are also able to save significant amounts of money throughout construction and this is primarily why their house and land packages are priced so competitively.
What are the options available with a house and land package?
There are many options for those considering the purchase of a house and land package. These options are typically suited to a variety of budgets and the better companies will offer consumers a wider variety of options for the most competitive price. Two of the most pertinent options are listed below.
- Buying a completed house and land package
Often, many of the blocks within a company’s estate will be developed relatively quickly with modern houses constructed to suit a variety of budgets. Purchasing one of these houses often offers consumers the best value for money, as the resulting homes are well designed and constructed to a high standard. Prospective buyers are not limited in terms of their options and the best amongst Australia’s homebuilders have in excess of one thousand designs available.
- Buying an incomplete house and land package
Not all of the blocks within a typical estate are developed immediately. Commonly, developers will offer consumers the option to select and purchase a block of land that is most suited to their taste or requirements. Those who seek a more customised home design often favour this option and the best homebuilders have the capacity to alter their standard designs in accordance with customer request. This is of equally good value, as consumers get a customised design with the efficiency and quality offered by reputable companies, although there are often some additional costs when purchasing a house and land package of this nature.