A house and land (H&L) package is increasingly becoming a popular real state option for many buyers. Nationally, a slowdown in apartment demand (along with related properties) for the next three years is expected. This provided an impetus for some properties to be ready alternatives.
In the current real estate climate in Victoria, Australia, many property types are cheaper than buying a ready-made home. Now is an opportune time to invest in house and land packages in and around Whittlesea, Victoria as it boasts a sizeable H&L package market.
But before you look into this type of property, consider first the four things below.
Location is the most important factor that contributes to your decision. If the property is in the right community, it is easy to say yes. A short travel time to work or to family and friends, highly accessible schools, great shopping options and wide public spaces like parks and trails should top our list.
When checking on a lot, scrutinise the shape, as it will be a factor in your house design. Also check for the grading (i.e. flat for volume builders, sloped for bespoke), orientation (i.e. facing the sun in the afternoon or not), and topography.
Soil stability and underground rock are also noteworthy to check as they could affect the building process.
To know more about a builder, take a research tour of their display homes or pour into available print and online documents or reviews about a builder. If you have chosen the right builder, you can now talk about the layout, the construction timeframe, and the environmental considerations.
The builder must have the licence and experience to ensure quality.
Price limits our choices, so it is necessary to be wary about the value of a project as well as price inflations. The cost of an H&L package must be within our budget. You must avoid packages with inflated prices since many estate owners inflate prices so they can profit more.
Getting quotes from builders and contracting one can be a cheaper option.