As a first home buyer, there are many factors to think about when deciding on a home for your future. There is a lot to weigh up, and it’s hard to get across everything. Our team at SOMO have been working with first home buyers for years, so we know the ins and outs of building and buying. So let’s talk about if a house and land package is the best option for your lifestyle.
So firstly, what is a house and land package? The phrase’ house and land package’ is primarily a deal that consists of a block of land and the home built on top of it. From this, there are two kinds of packages to choose from – ‘off the plan’ and ‘turnkey’. ‘Off the plan’ means you can pick your block and the suburb it’s in. You also customise the design, making it the ‘DIY’ choice. The second option is the ‘turnkey’ package, involving the purchase of a block of land with a prebuilt house. This means you can instantly move in, or ‘turn-the-key’ to your new home.
When considering buying a house and land package, is customising your home to suit your current lifestyle or future a better option than buying an established house? This isn’t a decision we can make for you. As a first home buyer, you must weigh up whether customisation is a deal-breaker for you or not.
When customising, you can make the decisions on all elements of the home. You will have full reign to introduce all of the features that exist in your dream home. You can also plan for the future and include elements of the home that you think you may need or want in the future. This could be children’s bedrooms, a specialised workspace for your dream job, or maybe an entertaining space to host your family (or future family!).
One of the cons to the house and land package is that often the available blocks are in less established areas that are further from the city. If being close to the city or moving to an area you are already familiar with is the goal, this can be challenging. Most central suburbs are already well established, and there isn’t a lot of room for house and land packages. This isn’t always the case, but it is something to consider. Although this may seem like a con, moving further from the city isn’t a bad thing. A less established suburb right now might be a highly sought after one soon. As long as you are close to great schools, amenities and have incredible things on offer, newer suburbs can be a great place to start a future.
This is something that you will need to think on before going forward with a house and land package. They are not for everyone, so if customisation isn’t essential to you, then buying one of the beautiful established homes could be the fit for you. If you would like a consult or ask some further questions, contact one of our Property Advisors today on (08) 9202 9292. Let’s find you a space of your own.