Questions to Ask When Buying a House and Land Package
Monday,03 September 2018

WHAT IS A HOUSE AND LAND PACKAGE?

House and Land packages are the combination of a block of land with a custom built home to fit the block, including a siteworks component.

House and Land packages offer an array of home designs, so you can select your block of land and build any particular features you would like your new home to have.

PROCESS OF BUYING A HOUSE AND LAND PACKAGE?

The process of buying a house and land package involves two steps:

  1. Buying the land
  2. Finding your builder.
  3. Building the house

The process can vary depending on different finance establishments but can usually be broken down into the following steps:

  1. Finance is obtained and budget is established
  2. Builder is chosen
  3. Preliminary Plans Agreement (PPA)  fee is paid for
  4. House design is finalised
  5. Contract is signed
  6. Once the land has been settled, the slab is laid and construction commences
  7. “Progress payments” are made in stages. These payments are made to the builder from the build finance loan account as the builder progresses through pre-arranged stages

THINGS TO CONSIDER WHEN BUYING A HOUSE AND LAND PACKAGE?

Finance

Ensure that you can obtain finance for both the land and build before signing the contract. Our experienced Home and Land specialists can refer you to expert finance brokers who can guide you through this process.

Is the builder licensed and qualified?

Whoever is building your house must be a registered building service contractor and have their named displayed as a builder on the building licence or permit. This step may seem obvious but it’s always important to check if your builder is registered.

Location

Think about the best location for you to build your house house. For example, if you work in the city you may wish to live close to public transport routes. If you are thinking of buying in a new development area check to see if  there are any plans to develop public transport in the area.

Size of the land

If you are buying a small lot, are there parklands close by for you to enjoy? Do you plan on increasing the size of your family in the near future? It’s important to think about your lifestyle and determine what your space requirements will be for your new house and which amenities are around for you to enjoy.

What is included with the house?

Not all house and land packages are created equal. It’s always important to discuss the design of your home and understand which inclusions you will be receiving.

If you would like more information about finding the right house and land package for you, we invite you to speak to an experienced Start Right Homes consultant by calling (08) 6189 8795 or contact us online.