Securing a property with a House and Land package simplifies the home acquisition journey. Rather than sifting through land listings and then deliberating on the ideal home design, this package offers a combined solution. Buyers will enter into two contracts: one for the land with the developer and another for the home design and construction with the builder. Understanding the specifics of both contracts is vital to ensure a smooth process without unforeseen complications.
How Do House and Land Packages Work?
The process begins by selecting a builder and a suitable home and floor plan in Windermere. Then, with the help of the sales team, the buyer takes into consideration various factors such as schools, transport, and amenities. After selecting an exclusive house and land package, a deposit is paid to the builder to secure the house. The sales consultants then inform the land developer about the buyer’s interest, who then contacts the buyer for an appointment to pay the land deposit. Once both deposits are paid, both the house and land are secured.
While most builders advertise packages with specific home designs in Windermere, there is sometimes flexibility to choose a different design offered by the builder, as long as the chosen block can accommodate it. However, it’s crucial to note that changing the home design may affect the advertised package price.
A ‘fixed price’ quote provides a single, locked-in price for both the land and the construction of the home. This means the buyer will know exactly how much they need to pay from the start, without the risk of encountering any unexpected additional costs later on. This approach offers various cost savings as stamp duty is only paid on the land component of the sale price, and the construction loan is drawn down incrementally, charging interest only on the amount used to date.
The price of a House and Land package is determined by the combined cost of the land (which depends on its size and location) and the cost to build the chosen home design, including site costs, developer covenant costs, and a range of included home options.
Display homes are an essential tool for buyers as they allow them to see, touch, and experience what the completed home will be like before committing to a design. Most established builders provide display homes in Windermere to help buyers visualise the final product. Here at one of the largest display villages in Victoria, you’re invited to explore Windermere’s impressive suite of 29 display homes including Metricon, Boutique Homes, Simonds and Homebuyers Centre.
Steps to Buying a House & Land Package
A house and land package is a popular option among various types of buyers, including young families entering the property market, established families needing a larger home, and investors expanding their portfolios. It involves purchasing land and selecting a home design in one process but with two separate contracts—one with the builder for the construction and one with the developer for the land.
Step 1: Getting pre-approval for a home loan.
Before delving into the house and land package journey, it’s crucial to obtain pre-approval for your home loan. This step clarifies your borrowing capacity, ensuring you’re financially set to proceed with the purchase.
Step 2: Finding and reserving the land while selecting a builder and house.
House and land packages are designed to be straightforward, often with a house already tailored to fit the specific plot. Visit land sales or builder offices to explore available packages. These packages not only offer a suitable piece of land but also a house design that complements it. While there might be some flexibility with the design, the primary advantage is the pre-matched suitability.
Step 3: Picking the house and land package and making a reservation.
Once you’ve settled on a package that meets your needs, you’ll need to reserve it. This typically involves paying a deposit, ensuring that the specific house and land combo is set aside for you.
Step 4: Signing the land contract of sale and handling associated paperwork.
With your package chosen, the next step is to sign the land contract of sale. This document spells out the terms and conditions of your purchase, providing clarity and security for the transaction.
Benefits of a House and Land Package
Less Maintenance
Newly built homes generally require less maintenance compared to older, established homes. This means you can spend more time enjoying your new home and less time worrying about repairs and maintenance.
One-Stop Shop
Purchasing a house and land package in Windermere is a convenient option because you deal with one group for the entire process – from selecting the land and choosing the home design to the construction of the house.
The Turnkey Home
A ‘turnkey’ home is a fully completed house that is ready for you to move in. All you need to do is ‘turn the key.’ This means that the builder will take care of everything from construction to landscaping, and you won’t have to worry about any additional work or costs after moving in.
So, if you’re looking to build your dream home in Windermere, visit the Windermere Display Village today and explore the impressive suite of display homes and house and land packages available. Our team is here to help you uncover the aesthetic and lifestyle perfectly suited to your family. Start your journey to a new, beautiful, and convenient lifestyle in Windermere now.
Discover your dream home with our exclusive house and land packages today! .
