7 Benefits of House and Land Packages

When it comes to finding your dream home, more and more Aussie’s are turning to house and land packages.  

With house prices continuing to skyrocket across the country, house and land packages offer an attractive opportunity for first-time and experienced home buyers alike to capitalise on new builds in up-and-coming locations.

But let’s face facts, house and land packages still come with plenty of questions. From uncertainties around building timelines to general scepticism around new residential development areas.

So then, what better time to tackle the question of “what are the benefits of house and land packages” and provide a clear picture of what buyers are really getting when they purchase land and houses in a package deal.

Less maintenance

One of the most important benefits of house and land packages is that you are buying a new home with no underlying or existing issues. Where existing properties may carry a range of issues that can lead to costly repairs, new home builds are covered by a warranty and also enjoy the assurance of up-to-date building code compliance.

When you are investing a house and land package, you enjoy the assurance of knowing the materials that have been used in the build, the quality of the build, and the knowledge that there are no underlying issues. 

Save on stamp duty

One of the biggest benefits of purchasing a house and land package in QLD is that buyers are only eligible for stamp duty on the land component. Unlike other property purchases which attract a stamp duty payment across the entire transaction, a house and land package means that buyers are only required to pay stamp duty on the land. Because you are not technically making a transfer of property (only land) you will not be required to pay stamp duty for the cost of the house that is built. The money that you save from stamp duty means more money to allocate towards your build and some of those luxury inclusions that might otherwise be omitted from your new home.

Claim depreciation 

When you buy a new home, you are entitled to deduct the costs relating to the building’s wear and tear over time. A property depreciation schedule or tax depreciation schedule means that you can claim the cost of certain aspects of the build and its fixtures against your taxable income. To understand how buying a house and land package can help to offset your tax, it’s best to speak with a tax depreciation specialist. 

Value for money 

There’s no getting away from it – buying a house and land package is great value for money. House and land packages offer a fixed price on land and construction which means no nasty surprises or unexpected expenses along the way. Because builders are typically working across multiple, similar developments at the same time, buyers enjoy wholesale prices and lower material costs than builders working on one-off projects. 

Turnkey solution 

Hose and land packages are a turnkey solution. Unlike when you buy and empty piece of land and then construct builders to carry out the build, a house and land package saves you the leg work. Buyers know exactly what they are getting from the outset and can enjoy the assurance of a ‘finished product’ at the end of the build that is ready to be moved into and enjoyed from the very first day.

Clear, upfront costs

House and land packages offer upfront, fixed costs – so buyers always know what they are paying. When you sign up for a house and land package deal, you’ll get a complete breakdown of what is (and isn’t) included, what you can expect on the finished product, and even a list of additional extras that you can opt for. A clear pricing schedule means that buyers can effectively forecast cost and control their finances ahead of time.

Build your dream home

Still on the fence about buying a house and land package? Perhaps the best reason to invest in a house and land package is that you can build YOUR dream home. Choosing your home, your location, and exactly what goes into your fittings and your outdoor spaces means that buyers can build their dream homes from the outset. No need to retrospectively add in a pool or luxury fittings down the line, instead, buyers can build their dream home from the outset and start enjoying their property from the day one.