House & Land Packages in Melbourne. Let’s know the Pros & Cons of it.

If you are not too keen on building a new house or buying an older home and then renovating it, in that case, taking a house and land package is an attractive alternative. There are many positive reasons for buying a house and land packages. However, there are some pitfalls too. So, before you invest in a house and land package, here are pros and cons of same.

Majority of Melbourne home builders have bought land in the outskirts of popular metropolitan areas and have developed off the plan houses to prospective buyers, giving them a set of benefits.

 The Pros

• When you are looking for a house & land package in Melbourne, you can find great options as per your budget from a modest one-storey home to a classy two-storey designer home.

• Buyers are given a detailed house plans with minutest of the details, saving the hassle and cost of hiring an architect.

• Saves huge amount of your money on stamp duty and overall a simplified council approval process.

• Flexibility to customize your house as per your lifestyle and tastes including room configurations, interior fittings and other decorative features.

• Provision of financial institutions to assist buyers with financing.

The Cons

• Like any other business, land & house development, it is a profit-driven business wherein developers look for smart ways to maximize their profits and this is achieve in a variety of ways:

• Developers purchase land in the outskirts of cities, the price is cheaper and certainly has less value from the selling point of view too.

• They generally buy construction material in bulk or at times compromise with the quality too.

• You may find, that your house & land package is located at a distant location, from majority of important places including School, Hospital, Shopping malls and other amenities.

Before, making an investment in the house & land package in the Melbourne, ensure that everything is included in your contract or itemized in your quote from lighting switches to flooring or material used in the house, go through the details before you sign a contract. You can also hire an independent building consultant that can assist you in complete evaluation of the house before you commit to any package.