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Once you decide you would like to build a new home you will undoubtedly come across the wonderful world of house and land packages. With only the single contract to deal with, fewer decisions to be made and the relatively quick build time, house and land packages offer a lot of appeal.
There are a few factors however that still need to be considered, so take the time to thoroughly examine which house and land package is best for you.
Before you go any further, stop and decide on a location that will best suit your lifestyle.
Important things to consider when selecting the location of your future home include what kind of public transport the area offers, distance to family and friends, whether there are schools and shops nearby, and if you enjoy a good walk with your pet make sure there are plenty of parklands available.
Make sure you have at least two or more potential neighbourhoods in mind so you have more house and land options to discuss with your builder.
Always ask the above two questions before considering any builder. Do your research to ensure they are reputable and have good referrals. Once this all checks out you can begin to look at specific home designs.
Now comes the fun part, selecting your house and land. This can be broken down into two considerations:
Land – The slope of the land is a primary factor. Generally the steeper the block, the more it will cost to build. You should also ask the soil to be professionally inspected for its ability to support your home. Finally check the orientation of the block. When you build, main living areas should be facing north to catch the sun and help reduce heating and cooling costs.
House – Check out as many display homes as possible. Compare the designs and choose one that will best suit your lifestyle. Find out what it will cost you to change any aspects of the home you may wish to alter, and double check what features are included or not included such as the driveway, flooring or letterbox.
If possible aim for a fixed-price building contract to help avoid any unexpected fees.
For help selecting the best house and land package for you, speak to your local Hotondo Homes builder by clicking here.
Whether you’re married with a family, single, looking to buy your first home or wanting to invest, the benefits of buying a house and land package should not be overlooked.
House and land packages are one of the most economical and efficient ways to gain a tangible asset and create a home you love.
Some of the benefits include affordability, convenience, new home technologies, fast construction time and the customisation of layout and design.
Location, location, location
It’s important to consider the location of your house and land package before you commence building. Whether it’s your own home or for investment purposes, the location of your house and land package is key.
Consider its proximity to schools, shops, local amenities, public transport and employment opportunities. Houses that are in close proximity to these things may get more rental return on them. Similarly, when you come to sell the house this will often be a major factor for buyers.
Shape & size
The shape and size of the block of land you choose will ultimately determine the cost and build time. Some sloping blocks require excavation and the implementation of retaining walls.
The house and lands exposure to the sun is paramount to harnessing its natural capacity to give light and offer ways to heat and cool the home.
Ensuring the home isn’t shadowed by neighbouring properties will mean that your home can take advantage of the northerly rays. This will also affect your heating and cooling bills. In order to maximise energy efficiency, ensure your living areas are facing north.
Local government regulations
Each suburb or region is under the jurisdiction of a local council. Therefore, different rules apply to different properties. Before you purchase a block of land ensure that you do your research.
Look for restrictions on certain building materials, home styles and heights, easement placements and subdivisions.
It is also worth finding out whether the property is in a bushfire prone area, a region that is susceptible to floods or inhabited by protected wildlife.
To view our range of house and land packages click here.
Buying a house is an exciting and memorable milestone. It can also be a life-changing step towards financial freedom.
Saving for a house deposit can be an arduous task, often taking years to do. However, it’s important to remember that it’s worth it in the long term.
The more you save, the less you have to borrow. The less you have to borrow, the less you will have to pay in interest over the life of your loan.
There are many different ways to save for a deposit, many of which don’t require a drastic change to your lifestyle. Nonetheless, it does take some discipline, determination and often sacrifice.
If you’re focused on saving for your first home (or even a holiday overseas) follow our simple saving tips that will help you get there faster.
SET GOALS – WORK OUT WHAT YOU CAN AFFORD
Setting goals is the best way to eventually buy your own home. It’s important to be realistic when setting saving goals for yourself or your family as a whole. If your goals aren’t achievable then you won’t ever get to where you want to be.
Set short terms goals. For example, calculate the amount you need to spend on rent, bills, food and transport for the week, as well as anything else you might need. When you know this, you can then set yourself an amount that you’re going to save each week.
These short term goals will allow you to then set long term goals because you will know how much you can potentially save each year.
MONITOR YOUR GOALS
If you write down your saving goals you can continue to asses and reassess them throughout the saving process.
This is an easy way of keeping track of how much you’re spending and how much you’re saving. It will also give you an idea of the things you’re buying, but don’t necessarily need.
CUT BACK ON EXTRAS
Some things you may be able to cut back on are buying your lunch, going out for expensive dinners, buying a coffee every morning or paying for a gym membership you don’t use.
DO YOUR RESEARCH – STAY UP TO DATE
If buying a house is your long term goal, it’s important to know and understand the property market before you enter it. The property market is always changing, therefore it’s important to educate yourself and stay up to date.
You can do this by going to auctions, reading the property section in your local newspaper or monitoring online real estate websites.
Don’t forget to also talk to people who have been through the process. Your parents and friends can be a wealth of information and they can talk from experience.
GET RID OF OTHER DEBT
When saving for a home loan it’s important that you don’t have other debt holding you back. This can be a barrier to achieving your saving goals.
Credit cards and personal loans can often have very high interest rates. Don’t get lured into this trap. Remember, it’s always better to spend money you actually have in the bank.
SHARE THE LOAD
There’s no doubt that saving for a home with two incomes is easier than one. This will allow you to get into the housing market sooner, as well as having less financial stress when managing your home loan.
DON’T BITE OFF MORE THAN YOU CAN CHEW
Don’t assume just because you qualify for a home loan that you can afford it. Go back to your plan and work out exactly how much you can afford to pay towards a home loan each week or month. Ensure that you will be able to pay your mortgage, as well as being able to do special things every now and then, like going on a holiday.