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MVA Financial Services

Understanding House and Land Packages


There are many different property types and this includes house and land packages. For anyone who wants to buy a brand new house, this type of home is going to be one of your main options. Here is some basic information about house and land packages.


House and Land Packages Explained

The majority of new home construction is undertaken by property developers who buy land after it has been released by the government. The developers construct the infrastructure, sewage, water, utilities and roads and then they do one of the following:


Build properties on the land and sell them as a full house and land deal. Offer several customisable or standard home designs so that buyers can choose the section of land they want and the features they want in their new home.


One of the main benefits of buying house and land packages is that you can make sure that you purchase a property that suits your needs. Buying a new property will also help you to budget with confidence especially as maintenance costs will tend to be low and you are not likely to have any repair expenses in the foreseeable future.


Finding a House and Land Package

House and land packages are generally marketed to a certain type of buyer. You might find the property you want in an eco village, a retirement village, or a golfing estate. There are also sub-divisions that provide opportunities for first time buyers and investors.


Unless you have been notified about a new estate being built in your area, you can find house and land packages by either approaching the developers directly or checking advertisements on major multi-listing websites.


How Does it Differ to Buying a House?

There are two steps to financing a house and land package. They are purchasing the land and then building the property. Although the loans are lumped together, they can be arranged separately.


Buying the land is a normal real estate transaction with a mortgage. You will need a construction loan for the second step. This is where an agreed draw down amount is arranged for each stage of the building process.  


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