What is a House and Land Package

It does not constitute, and should not be relied on as, financial, investment, legal or any other professional advice or recommendations both expressed or implied. It should not be used as an invitation to take up any investments or investment services. TPG Property Group Pty Ltd, its employees or contractors do not represent or guarantee that the information is accurate or free from errors or omissions and therefore provide no warranties or guarantees. You may not consider any examples, documents, or other content on the website or otherwise provided by us to be the equivalent of professional advice. Nothing contained on the website or in materials available for download on the website provides professional advice in any way. Whether you’re selling a home and looking to upgrade, or you’re a property manager exploring reliable investment opportunities, house and land packages provide excellent value.
We are first-time builders, and the whole process on paper looked daunting. With plenty of research and a good understanding of everything involved in the process, you can decide if a house and land package is the right choice for you. ‍New house and land packages may lack established landscaping and vegetation, which can impact their visual appeal. Be prepared that you might need to invest time and resources into landscaping and gardening to create a more attractive outdoor space. ‍While on paper, builders should complete new homes within a specified Home Loans Australia timeframe, the reality is that construction delays can and do occur. Whether it’s due to adverse weather conditions, material shortages, or unforeseen issues, delays can cause you frustration and inconvenience.

This staged payment structure can help buyers manage their finances effectively. Construction loans are commonly used for these packages and offer flexibility by releasing funds at each stage of construction. Many banks and financial institutions offer specialised loans for house and land packages, which can simplify financing. We’ve taken the hard work out of finding the perfect house and land combinations in Melbourne.
These can include weather, the complexity of the design and the build, how long councils take to give permits, and how busy the industry or the developer is at any given time. When it comes to financing, if you choose a construction loan to build your home, you will have up to 12 months to complete construction after settlement. Landscaping, for example, is often not part of the quoted price of a house and land package, and driveways may also be  another add-on.
You'll see a price range estimate of how much it might be worthdisclaimer, suburb insights, comparable recent sales, rental information and more. Start your online application and we’ll be in touch to help you complete the process. We also provide a guide on what to do if you wish to make a complaint about us. As a family owned and operated business, it holds unwavering family values instilled in the heart of every home.

In 2022, he was honoured as a finalist for FBAA Finance Broker of the Year and the following year, Melba Broker were a finalist for New Office of the Year 2023. Outside of work, Gary cherishes quality time with his daughter Paris and enjoys immersing himself in Melbourne's art and food scene. One of the biggest financial benefits is the potential to save on stamp duty. In most Australian states, stamp duty is only applied to the land’s value, not the house, since the home hasn’t been built yet. Moving into your new home is the part where you start calling yourself a homeowner (and showing off the backyard).
Add on top of this generous concessions for first home buyers and many of our clients can walk away with a nominal bill for stamp duty. With Simonds, you’ll receive a transparent, fixed-price contract that covers your chosen home design on your selected block of land. No hidden fees, no unexpected variations — just peace of mind from start to finish. For buying a home and land package, you’ll need two loans – one for buying the block and one for construction.
You will then pre-select the design of your home from a selection of options. This streamlined process often results in cost savings, more straightforward financing options and a more streamlined process overall. During construction, you'll only pay interest on the amount drawn down from your loan facility. This feature helps manage cash flow during the building phase, as you're not paying interest on the full loan amount until construction is complete. Loan security fees including Lodgement Fee, Production Fee, Settlement Fee and Search Fee still apply however will not be charged on establishment of a loan.

Choosing the right house and land package requires setting clear priorities. Buyers need to start by clarifying their goals, as the best package for a primary residence may differ from one suited to investment. When evaluating house and land packages, understanding the full range of financial aspects is essential. House and land packages provide a range of financial advantages that attract both investors and first-time buyers.
The builder typically invoices for five or six progress payments across a six to eight month build. Your lender will have their own valuer attend site to confirm the work matches the invoice before releasing funds. If the builder  gets ahead of schedule or falls behind, your interest costs shift accordingly. A buyer with a $300,000 construction contract might pay interest on $60,000 after the first draw, then $120,000 after the second, building up to the full amount when the keys are handed over.

We highly recommend them to anyone looking to build and wouldn’t hesitate to work with them again. Paying in increments eases the financial burden and pressure if you are already paying a mortgage or renting while you’re building your new home. Pick a suburb that suits your lifestyle, whether that’s close to work, nature or schools. Easystart has locations around Perth where you can start building your home. We carefully design homes to suit the block’s orientation, making the most of natural sunlight and breezes.
For example, some homebuilders will include the driveway, fencing, and landscaping while others may not. For this reason, it’s essential to clarify the inclusions and exclusions in the house and land package prior to committing to the build. If this is your first time considering a house and land package, there are a few key questions you should ask to ensure you’re making the right decision for your first home or investment property. House and land packages offer a more streamlined option for buyers and investors.
Remember to consult with finance professionals throughout this process to ensure you're making informed decisions about one of life's biggest investments. With the right team supporting you, your dream home can become reality sooner than you might think. Get in touch if you have any questions about the cost of building a home, finance and interest rates, or your borrowing power. “The capital gain over the past 25 years equates to an annual growth rate of 6.8% for houses and 5.9% for units.

The home loan grows as the home grows, and repayments on the financing grow, too. This is the most common type of house and land package loan, as risks are shared between developer and investor. In most cases, the land can be purchased with a straightforward mortgage loan, which most Australians are familiar with.