How Do House and Land Packages Work?

If you’re looking to build your dream home in your dream location, then there’s a good chance that you’ve been weighing up house and land packages.

Whether you’ve heard about them from friends, through ads, or they’ve been in the back of your mind for some time, you may have a basic idea of how the process works. But when it comes to understanding what you can expect when you invest in a house and land package, there’s probably still a number of questions that you have.

In this article, we’ll take a look at how house and land packages work, what you can expect when you invest in a house and land package, and the customisation (from land to build) that are available to buyers.

What is a house and land package?

As the name suggests, a house and land packages are when you purchase a house and land in a combined sale. Instead of buying an empty piece of land and then contracting builders, designers, architects, and landscapers to build your home, a house and land package offers a fixed-rate house and land investment package.

Depending on the stage at which you choose to purchase, this could either mean purchasing an already completed home, or it could mean purchasing and empty lot of land and selecting the exact type of home that you wish to have built. 

Finding house and land packages

House and land packages can be found through the same avenues where builders find real estate for sale in Australia (Domain, Real Estate etc.). Depending on where things are up to in the development process, buyers may either see renders of homes, or they may see completed properties that are available or immediate sale.

For buyers in Cairns and North Queensland, you can find a range of house and land package offerings right here.

Who selects where the home will be built? 

When you invest in a house and land package, you will typically be purchasing land on assigned lots where housing development has been pre-approved by the company offering these packages. Building approval takes time, so house and land packages tend to be in locations or land estates where the builder has already been through the approval process and is ready to commence building immediately.

Can you choose the type of home that is built on the land?

The level of customisation that is available will depend on whether you opt for a ‘turnkey’ solution or an off-the-plan option. Buyers that opt for a turnkey solution typically won’t have the same level of customisation options available – however they may still be able to choose interior fittings, finishes, landscaping, and any outdoor features such as pools which have not yet been completed. Conversely, buyers that purchase an empty lot will be given a choice of the style, finish, design, and features that go into the property. 

How long does it take from start to finish?

Again, buyers that opt for a turnkey solution may be able to move in immediately or they may be able to move in within weeks/months once the final finishes and fittings have been completed to their specification. When you purchase a house and land package, it’s important to opt for a build that is projected to finish within a window that meets your requirements. While builders always aim for the fastest possible completion, unexpected delays to supply as well as environmental factors can sometimes cause delays.

What are the key benefits of house and land packages?

House and land packages are quickly becoming one of the most popular choices for buyers looking to create their dream home. If you’re still on the fence about the benefits of a house and land package, here are few more key components worth considering: 

• Save on stamp duty (only pay on the land component)
• Value for money
• New home feeling
• Build your dream home
• Turnkey solution
• All-inclusive costs & no hidden surprises
• Effectively budget & manage your finances

How does finance for house and land packages work?

Financing for a house and land package will depend largely on whether you opt for a turnkey solution where the home is already built, or an empty plot of land. For turnkey, move-in-ready house and land packages, buyers can go through traditional home financing routes. For house and land packages that are purchased in two components (the land and then the house) many banks can arrange for the loans to be separate which allows buyers to effectively manage their costs from the outset. Before investing, it’s worth understanding what your options are by talking to a qualified financial professional.