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How do home and land packages work?

Metricon

Home and land packages make the dream of homeownership more achievable than ever. You receive a new home on a parcel of land in one of Australia’s most desirable estates. A home and land package removes many of the complicated aspects of a new home build – finding land, choosing a design and budgeting for expenses – without sacrificing the end results. You still get a spacious, stylish and affordable home – one that you or any tenant would be proud to live in.

Read on to learn more about the easiest way to acquire a piece of land and a brand-new home.

What is a home and land package?

A home and land package – also known as a house & land package – allows you to secure a block of land along with a perfectly suited home design in one process but two contracts. Don’t worry about the thought of two contracts - home and land packages mean you're dealing with less people along your journey, simplifying the process overall.

Due to Metricon’s strong relationship with developers across Australia, we can access the best blocks in the best estates across the country. This means, when you opt for a Metricon home and land package, your new home will be built on one of the best lots on the estate and the two-step transaction is integrated.

MORE: Already own land? Find out about our KnockDown ReBuild process

What are the main benefits of a home and land package?

Simplified process

In a word, the primary benefit of a home and land package is convenience.

Rather than trying to find and purchase the right piece of land, then choosing the perfect home design from a builder you can trust, a home and land package combines this into one transaction. You’re not dealing with multiple parties – just one vendor who takes you through the entire process.

There’s much less work involved at your end and more work for us to take care of on your behalf. You’ll benefit from having more time in your week to spend with friends and family rather than worrying about finding land and the perfect home design to go with it.

Clear costs upfront

When you purchase a home and land package, you’ll know how much you’ll be spending right from the start. If you have pre-approved finance or have a clear understanding of how much money you’ll have to put towards your new home, a home and land package shines. Budgeting suddenly becomes much easier, especially for first home buyer who might not have experience buying a home and managing a strict budget, and for the investor who needs to have a clear understanding of their costs relative to their return on investment.

Purchasing a house and land package could also see you saving thousands of dollars on stamp duty. When buying an established home, stamp duty is calculated on the price of the entire property, but when you purchase a home and land package, you’re only charged stamp duty on the land value. The amount you could save varies, and for more information about how this works, chat to your conveyancer or mortgage broker.

Master-planned community

Often, home and land packages are built on new estates with generous lot sizes, which means you or your tenants have the opportunity to live with a group of like-minded individuals. These new estates are referred to as ‘master-planned communities’ for a reason – every road, path, park, school, and shop has been carefully considered to ensure everything feels accessible. All the amenities you need are close by. In these communities, land size is often bigger so you have more room to build your new house.

It’s all-new

Not everyone wants to practice their renovation skills to qualify for the next season of The Block, and we’ve all heard renovation horror stories.

When you buy an established home, you don’t always know what you’re in for. The hot water system might be about to burst, the oven might be a bit dodgy, or the roof might leak. A variety of issues might be lurking under the surface that you missed during inspection. You’ll reduce these risks when you buy a new home because… all your inclusions are new.

Better yet, if there are any issues with your brand-new home, you’ll benefit from Metricon’s Lifetime Structural Guarantee and other warranties included with your new home. However, you shouldn’t worry, as your new Metricon home will be built to the highest standard and include quality fixtures, fittings and appliances.

Investment opportunities

Home and land packages make for a great investment. Aside from the affordability aspect, a brand-new home in a master-planned estate is bound to attract more high-quality tenants. These tenants will possibly pay more to live in a new home – and more again if the home is developed in a carefully chosen. You might also be able to claim more deductions on depreciation with a brand-new home, and you should spend less on maintenance and repairs.

MORE: Display homes for sale - why it's a great investment

Metricon’s home and land packages exist to make it easy for you to purchase a new home – whether you’re a first home buyer, upsizing, downsizing or investing. Buying your dream home should be a joyous occasion – not a stressful one. As home building experts, it's our job to take care of a lot of the work on your behalf, so you can focus on what’s important. We offer both double and single-storey homes across leading estates thanks to our strong relationship with land developers.

Find a display home near you to check out a floorplan in person - the perfect house might be just around the corner!

If you're in Melbourne, Regional Victoria, Sydney, Regional NSW, QLD or South Australia, enquire today.

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Disclaimer: While we've tried to be as helpful as possible, this article should not be taken as professional financial advice. It contains general information only, and you should seek out independent, professional advice before making any financial decisions.