You have a couple of choices if you want to build your own home. You can buy land and then build a house on it. Or, you can buy a house and land package. If you opt for a package deal, then you buy a home and its land together from new home builders.
House and land packages have some advantages that can make them more attractive than going it alone. What are they?
1. Avoid Land Availability Problems
Finding a suitable plot of land on which you can build your dream home isn't always easy. This is most often a problem for people who want to build in towns and cities where land is at a premium. Even if you find a plot, you may have to pay more for it as competition will be intense.
If you buy from a new home builder, then you tap into their resources. They often have better contacts and buying power. They can afford to buy big plots of land and divide them up for future customers. You could get the land you need in the right area far more easily and affordably.
2. Reduce Upfront Costs
If you decide to buy land and then build a house on it, then you may need to take out two separate financing deals. If you can't pay for the land upfront, you may need a loan; you'll then need to borrow money to build your home.
In some cases, this doubles up your upfront costs. For example, you may have to pay a deposit to get financing for the land and a deposit for the money you need to build.
If you buy a house and land deal, then you're more likely to have one loan and one deposit. This reduces the amount of money you have to find at the beginning of the build process.
3. Get a Faster Build
Buying a plot of land and building on it takes time. You have to find a plot and buy it. You then have to design your home and get appropriate planning permissions. Finally, you have to find a builder and wait for construction to finish before you can move in.
If you use a house and land package, you speed up this process. Some packages come with a pre-built house or one that is already under construction. If you get an off-the-plan deal, you just choose the type of house you want to be built on the land from the builder's options.
To find out more about house and land plans, contact new home builders in your area.Share