Buying a house and land in Melbourne has been a dream for many families. It is also in the mind of many investors looking to make good capital gain while earning monthly rental from it. House and Land package has so far been the most stable and having the higher consistent capital growth when compared to apartments. Let me explain what are the things to lookout when purchasing House and Land in Melbourne or any part of Australia.

In almost all cases, property developers acquire land as it’s released by the government and provide two different types of house and land packages for the buyer to choose from. The first being to buy your land and then find a reputable builder to build your own dream home. This way of House and Land is more for dream home buyer, not for investors.

The second way, which is also the more common, both risk-free and trouble-free is to purchase a turn key House and Land package. You may not get your dream home but it is worries-free and you get your investment home without much effort. All you got to do is to pay, select the pre-designed home from the developer or builder and wait for completion. Your home will be ready for you to move in with a fully fitted kitchen, bathrooms, flooring and more.

Usually being advertised with a single, fixed price for land and construction, turnkey properties won’t leave you any nasty surprises, such as builders calling up for more money during mid-construction, because of under quoting. You will know all the costs upfront and the expected time frame for the build. This is by far, the better and preferred way of buying House and Land in Australia be it for home owner or investors. And these home comes with standard structure guarantee for ten years or more.

You may be aware of new estates popping up in your preferred area, but you can also find house and land packages advertised on many real estate listing websites, just like this site which will have more and more new House and Land package tailored for you. Reaching out to property developers directly can help you find the right package but you will have to deal with them alone. Finding us, you can be sure that all your needs are taken care of and you can do the headache away by approaching developers. We will update you with all the building updates or any possible delays whatsoever. You will also be updated the latest resale pricing of your uncompleted house and land and your can decide whether to hold it or sell it off for a profit.

What To Expect When Buying A House And Land Package

If you have bought the land first and then are building your new home, you will have two contracts: one for your mortgage on the land and a construction loan for the build of the house. Depending on the situation, the loans may be parceled together or they may be separated.

Basically, a construction loan is drawn down in stages of an agreed loan amount, meaning you will only pay the interest on the amount as you use it. There are usually four construction stages and it is progressive payment prior to the start of each stage:

  • Pouring the concrete slab
  • Erecting the walls and roof
  • Securing the house (known as the ‘lock up stage’)
  • Completion of the project

With ready built turnkey packages, it is more simple. The two contracts are bundled together and because there is a fixed price for the house and land, the finance is released to the property developer immediately and you, or your tenants, can move in straight away.

When building your own home you will obviously have more choice over the design than with a ready built property. Your property developer will show you a range of customisable home designs that you can select from, and you will also have the option to add on extras.

Be careful here because any upgrades you select can quickly accelerate the cost of your new home, from granite benches to the size of your doors and windows. Landscaping, driveways and fencing may or may not be included in the package price.

Things to know when buying a house and land package

Once a customer owns their land, they are responsible for maintaining it, which includes keeping it clear from rubbish, debris, excessive or overgrown weeds and other materials. Council may conduct regular site inspections of lots under construction and may issue fines to the owner if lots are not kept clean and tidy.

Capital Growth over Apartments

Is House and Land really worth investment? Many investors well know that Apartment is more for long hold as the capital growth are slower than house and land. Apartments investment is more for rental yield as there are usually found nearer to CBD, good schools or metro network. But due to the amount of apartment clustering, the capital growth declines.

House and land, on the other hand is more of capital growth other than rental yield return. Land is power to investor. Having a freehold land means you own that land forever. And most lands appreciate in value over time in a faster manner compared to strata titled apartment as they do not own the land but by shares.

Owning a land means you own the personal enjoyment along with the subterranean space below your land and also the reasonable amount of air space above your land.

In Melbourne, if you want to have the higher potential of land value growth, it is more advisable of looking out of Melbourne central. Usually 20 km away from Melbourne CBD. Those areas, the lands are much cheaper and have more potential for the local government to develop and grow those area in near future as the Melbourne central has only so little space for growth as it is so developed as of now.

As of 2018 statistic in Melbourne Property Index, the above graph clearly shows that House and Land had better growth in capital value over apartment.

Should you have any query, do contact us and find out what are the best area to invest in now. We hold more than hundreds of stock at any one time and more than 10 house and land projects.

Call or Whatsapp us at: +65 8798 3662

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If tranquility and capital growth is for you, then click the above link to find out more about Eynesbury House and Land.

Eynesbury House And Land
Find out how to own a piece of land and house in Melbourne Eynesbury today as a foreigner from us Eynesbury is the next upcoming new housing destination for now.
Current Promotion for Eynesbury:
-5 years price protection guarantee
-10 years rental return guarantee at 4%
-20 years structural guarantee

Transportation and Tranquility are both found in this suburb, Wallan. Find out more about this exciting home for you.

Wallan House and Land

Find out how to own a piece of land and house in Melbourne Wallan today as a foreigner from us. Wallan is the next upcoming new housing destination for now.
Current Promotion for Wallan:
-5 years price protection guarantee
-10 years rental return guarantee at 4%
-20 years structural guarantee