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Whether you’re single, have a partner, married with a small family, you’re needing to upsize to accommodate your growing teens, or you simply want to build an investment property, purchasing a house and land package is one of the most economical and efficient ways to create an asset for your property portfolio, and build a home you love.
Once you’ve decided on the area you’d like to purchase a home in, it’s important to research not only the available house and land packages, but also the key infrastructure your family will need to utilise. Things like proximity to schools, shops, medical centres, and public transport should all factor into your decision to focus on a particular area to buy in. If you have a young family, or are planning to have children in the future, make a note of the amount of green space, parks, and public gardens in the area so you can all enjoy the outdoors without having to travel too far from home. When looking at areas to purchase a house and land package in, have at least two or three suburbs you like in the event that there aren’t any packages available in certain areas – it’s always good to have a back-up location you love just as much!
When you’re working with your builder to find a suitable house and land package, don’t forget to carefully consider the size and shape of the land, as this will determine the cost and build time. A larger piece of land will allow for a bigger home, which will raise the cost and possibly increase the build time. However, you also need to think about the land shape as well. A corner block may affect the orientation of the home as well as the size of the dwelling the council will allow. If the land is located in a hilly area, you may incur additional costs to excavate land and build retaining walls, or you may have to choose a split level home to suit the slope of the land. Do your research to fully understand the geography of the area you’d like to purchase a package in to ensure there are no surprises when you’re ready to sign your contract.
House and land packages come with a recommended home design that the builder has selected because it suits the shape and size of the land. They will be able to show you the floor plan of the home and work with you to modify the plans to suit your lifestyle and outline any added costs this may add to the contract price. To get an idea of what the home will look like, visit display homes built by the builder to see the quality and craftsmanship in person, gaining an understanding of what the standard inclusions are. It’s also a good opportunity to check with the builder about what isn’t included in the package, such as driveways or landscaping.
One of the biggest benefits of buying a house and land package is that you’re working with one builder and with less paperwork to sign in order to purchase both the land and have the home built. When you’re searching for land on your own, you’ll have to do all the legwork yourself, from finding the land, getting it surveyed to see if it’s suitable to build on, contacting the council to get permits, then sourcing an architect to design the home, and find a reputable builder to actually build the home for you. This will make the process lengthy and time consuming for you, and can lead to a lot of unnecessary stress. Working with a builder to find a fixed price house and land package that’s already titled and ready to build on alleviates that stress, any additional costs, and gives you a support system from the start of your journey to the day you receive the keys to your finished home.
When you’re ready to purchase a home, considering a house and land package will make the process a lot easier and more economical for you and your family. Relieving the burden from you and finding a package in the location you love, as well as working closely with your builder to bring your dream home to life will make the search for the perfect house and land package an invaluable experience! To find a builder local to you, or to browse our available house and land packages, head to the Hotondo Homes website today.
As your family grows and kids get older, sometimes space inside the home can feel like it’s full to overflowing, especially when friends come over and add to the number of people inside. One way to add additional liveable space to your home without undertaking a costly extension is to convert your garage! It’s a great way to provide more room to your home design, while still offering independent space without changing the structure and existing floor plan. We’ve got a range of tips and ideas to help you create a living space to suit your family’s lifestyle!
The first thing you’ll need to add will be proper insulation, plastering to walls and ceiling, flooring, overhead lighting, and waterproofing, the latter being particularly important if you’re adding a sink or small ensuite. These things may seem costly, but will go the distance in ensuring the space is liveable and able to be utilised for years to come as a comfortable, weather-proof space. You may also need to install additional power outlets to allow for media devices, soft lighting and small appliances like fridges and heating or cooling. These things will all transform the space from an oil-stained, grimy garage to an inviting room.
Converting a garage to a bedroom is one of the most popular uses of the space. As children age into their late teen years, and continue to live at home with their parents into adulthood, being able to have a space to call their own is invaluable. Laying plush carpet to keep the space warm in winter, painting the walls a light neutral colour to make the room feel bigger, and adding window dressings will elevate the space to a cosy, welcoming bedroom. If you have space to install some simple shelving or a compact wardrobe system the room will be truly functional as a bedroom. Once your offspring leave the family home, the space can be used for an older family member who’s not quite ready to give up their independence. Another option would be to use it as a room for rent, creating a stream of income while still allowing both the tenant and the home owner privacy.
While many new home designs offer a study nook or semi-private study zone inside, as children get older and need more room, desk space is at a premium! If one or both parents run their own business or work from home a majority of the time, you may find there’s just not enough room for everyone to work comfortably, so additional study or office space is required. Converting your garage to an office will ease the load inside, and create a place of quiet solitude for study or work. Add built-in shelving and cabinetry, a desk that spans the length of one wall to create enough space for people to work simultaneously, and even a small couch and coffee table for client meetings. You’ll have an office space that looks professional and encourages a quiet, studious atmosphere for a variety of members of the family.
If your home design is a compact one and you only have one living space, converting your garage to a media room will give your family the chance to relax without feeling crowded. Your older teens may benefit from having a separate space where they can chill out with friends, play music in, or hold a movie night without disturbing parents or younger siblings. You may like to include sound proofing in the early stages of the conversion to ensure neighbours aren’t bothered by music or TV noise, and add thick carpeting and heavy curtains to further muffle sound. Installing a large TV, a modular couch, and a coffee table, as well as a small cupboard for snacks, a bar fridge and even a small sink area will make this the ideal set up for relaxing with friends!
Whenever you’re adding additional rooms to your home or undertaking a renovation of an existing space remember to contact your local council to check if you need to gain permits or approval before going ahead with any changes. If done correctly, a garage conversion can be a fantastic benefit to your home and family’s lifestyle! For more home design ideas and inspiration, visit the Hotondo Homes website today.
Building a new home can be an expensive process. With home insurance, conveyancing or solicitor fees, and mortgage insurance, costs start to add up quickly. One of the largest payments you’ll make during this process is stamp duty. Although the added cost is substantial, there’s no avoiding it unfortunately, since every real estate purchase accrues a stamp duty cost. But what is it? We’ve got a quick summary of what stamp duty is and why you need to pay it.
Stamp duty is a form of tax written on certain transactions, like real estate, that is imposed by state and territory governments. It is paid by the purchaser of the property. The amount imposed on the transaction will vary from state to state, but each state and territory in Australia imposes stamp duty on real estate purchases.
The amount of stamp duty you’ll pay depends on a number of factors. The location of the land or property being purchased, whether you’re a first home buyer, and whether you’re buying land or a dwelling, and whether you’re purchasing an investment property or plan to live in the property all contribute to the final amount of stamp duty calculated for your purchase. The amount is calculated on either the expected value of the land and buildings or the purchase price of the land and existing dwelling as at the date of the contract of sale, which is the date when the contract of sale is signed and the deposit is paid by the purchaser. Many financial institutions and State Revenue Office websites offer stamp duty calculators so you can estimate how much stamp duty will be applied to your real estate purchase.
There are some instances where stamp duty may be reduced depending on your circumstances. These include purchases by first home buyers, pensioners, low property value, deceased estates, and off the plan purchases. When you’re ready to purchase land or a home, research the stamp duty exemptions in the state your purchasing in order to see if you qualify for a reduced stamp duty rate.
Stamp duty is paid to the State Revenue Office in the state of purchase prior to the lodging of the transfer of land to the land titles office. Usually the purchaser’s lender or legal representative pays stamp duty after settlement, often with funds that the purchaser contributed before settlement occurred.
The most obvious way to reduce the amount of stamp duty you’ll pay is to buy a less expensive property. However, with the cost of real estate fluctuating this isn’t always possible. In most states and territories, stamp duty increases significantly when the purchase price goes over $500,000. You may opt to look for property in a regional area or even in a different state to decrease the amount of stamp duty you’ll pay. If you’ve purchased a house and land package and will be building a new home, the stamp duty is calculated on how much the property is expected to be worth, so reducing the cost of the build by sticking with the standard inclusions offered by your builder will help keep the build costs low and subsequently lower the property’s initial value.
When purchasing a new home, whether it’s land or a dwelling, you’ll be required to pay stamp duty on your purchase. This is something you should budget for when saving a deposit to purchase so there are no nasty surprises. Researching estimated stamp duty costs using online calculators will help you allow for this payment on top of you deposit, ensuring you’re not out of pocket with an expense you weren’t expecting. For more home building tips, visit the Hotondo Homes website today.
Hotondo Homes is not a licensed financial expert and we recommend speaking to a licenced financial professional before making a real estate purchase.
Buying your first home and feeling a little confused about what conveyancing is? You’re not alone! This is a vital part of the purchasing process, but is often a service you pay for without really understanding it. We’ve got a simple breakdown of what conveyancing is, why you need to do it, and why it’s an important part of the home buying process.
This is the essential step of transferring the ownership of land or a property from one owner to another. Buyers can handle the conveyancing themselves, though it can be quite time consuming and complex. This is why most people choose to use a licenced conveyancer or solicitor to do the work for them. Conveyancing covers a number of things, such as the payment of the deposit, the balance of the purchase price and competing the correct forms to ensure the land or property is properly and legally transferred to the correct person. It also includes making enquiries about outstanding debts, obligations, potential defects or disputes on the property.
Legally, a conveyancer cannot carry out any conveyancing work for the buyer until after the contract has been signed. Once you’ve committed to buying land or a property, the conveyancer can then commence their work, and advise you with comprehensive advice about the contract of sale, the Section 32 Vendor’s Statement, and what your rights and obligations are under the contract, as well as any special conditions or issues with the property. As a seller, a conveyancer or solicitor will prepare the legal documents for you, which includes the contract of sale and the Section 32 Vendor’s Statement.
Once you have signed a contract to purchase a home, the conveyancer or solicitor will commence their work. They will investigate whether a government body has an interest in the land or whether there are any proposed developments or notifications that could affect the property by gathering information and making enquiries about the land and title from relevant authorities to ensure there are no hidden defects, debts, or mortgages on the property. They will also ensure the property is in compliance with council and state regulations and law. They will then draw the relevant documents to ensure the property is transferred to the correct owner at the end of the process, which is the settlement date in the contract of sale. The conveyancer or solicitor will also represent you as the buyer or seller and liaise with the other party directly. This includes the exchange of transfer documents, ask any questions about the property, and communicate with the financial institution involved as well as attend the settlement on behalf of their client.
Once settlement is over, the conveyancing process is typically finished. In some cases, the conveyancer or solicitor may attend to stamping and lodging of the transfer documents. This means they may assist in the preparation of the documents so that a new Certificate of Title is issued in the name of the land or property’s rightful owner.
Conveyancing is an essential step of transferring ownership of property when its being bought or sold. Because this is such a significant financial investment, using a professional to assist you with the process is invaluable during your home purchase or sale. When you build with Hotondo Homes, your local builder will be able to to assist you with your conveyancing needs during the building process. For more building tips and information, visit the Hotondo Homes website today.
Hotondo Homes is not a licenced conveyancing service, and we recommend speaking to a licenced professional when you’re buying or selling land or property.