Top advantages of purchasing a house and land package
For a lot of Australians, owning your property and lot can be a big deal. A lot of people living in Australia, and probably the rest of the world as well, probably dream about owning their real estate property at one point or another in their life. They would be able to rent out this property so that they can passively earn money. However, the cost of investing in a property and then building a house there can have a hefty price tag. There is no need to look towards purchasing an existing apartment or house; you could have the option to invest in-house and land packages. Financing for a house loan usually means that you have got to take out two of them for the house construction costs and then to buy the land itself. If you are going to buy a new home, then it could be a good idea to get a house and land package instead. Here is what you could gain if you choose this kind of package.
Lower cost on stamp duties
One of the biggest savings that you can get from house and land packages is that you can save on purchase stamp duty. This is because you will be building a new construction or house, so you will only be paying for the land’s value stamp duty instead of the house as well.
Customised house design
Purchasing your a land and house package can also let you customise the design of the buildings and home. You can even choose the best block design that works for you.
More tenants are attracted
Tenants are attracted to new homes rather than ones that have been around longer. If you want to rent out your property to high-quality tenants that will stay longer, then you have got to invest in a house and land package. If you do that, then you would be able to construct a new home on the land, and thus you can rent it out to better tenants as well.
Reduced maintenance costs
One of the biggest advantages of having a brand new building is that it will have lower or reduced maintenance costs. Often, these sorts of constructions can be covered by the warranty or guarantee of the contractor that you have hired. And in addition to that, the new fixtures and fittings inside of a newly constructed home are also going to last a much longer time as well.
These are just some of the top reasons for why you need to invest in a house and land package. Consider where you will also be making your investment, in addition to the type of mortgage that you take out. The location of your new home site is just as important as the kind of loan that you get for it. You will also need to find a place that has got a good infrastructure, safe surroundings, and high growth to ensure that your investment in that house and land package pays off in the future as well.