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Is It Better for You to Buy a House and Land Package Instead of Buying a House?
We will help you come up with an answer. You can only ever confidently answer that question if you have a comprehensive list of factors to consider and a working list of PROS and CONS.
This article will give you just that. We’d enlist the essential factors that you need to consider when it comes to buying your dream home and the PROS and CONS between buying a house and opting for a house and land package.
Buying a House
Buying a house is the tried and tested practice of owning one’s home by purchasing a house that is already built. Such a house could be newly built or one that has already been lived in. Houses for sale are priced depending on their location, neighborhood, size, usable space, condition, upgrades, and age. Your money will enable you to buy a bigger house if you’d choose a location far from urban and business districts.
House and Land Package
Opting for a house and land package is relatively a new way to go when it comes to buying one’s dream home. With a house and land package, you will get to buy both your lot and the house that is to be built for you. You’d also get to be part of the designing process. House and land packages are more affordable. However, you will have limited choices when it comes to location and neighborhood.
Factors to Consider When Buying Your Dream Home
You should consider the following factors regardless if you’re getting your dream home via buying a house or opting for a house and land package:
1. Budget
How much can you afford? You should work around a definite budget to avoid overspending and going too deep into debt.
2. Location
Where do you want to live? You should choose a location that will fit your lifestyle and the kind of life you want to create. If you have the luxury to choose a location near your workplace, then do so. People who live near their workplace save a lot on transport expenses.
3. Time
When do you need your house? If you need your home sooner, then opt to buy one that is already built. If you have time to wait, then go for one that you can design and build from scratch.
4. Design
Do you know your aesthetic? Your choice should match your personal style. You should live in a home that matches your lifestyle.
5. Quality
Quality should always be considered. Choose a dream home with top-notch features and supreme construction materials. This will ensure that your home will need less maintenance and will last a lifetime. If you’re looking for the best house and land packages in WA with the superior build quality, you should check out offers from Residential Building WA.
PROS and CONS: House and Land Packages vs Buying a House
Now that you know the basic difference between buying a house and opting for a house and land package together with the essential factors to consider when it comes to buying your dream home, you should endeavor to make your own PROS and CONS list. Allow us to guide you with our own list. Use it as a reference when making your personalized PROS and CONS list.
PROS and CONS of Buying a House
Take note of the following advantages and disadvantages if you’d choose to buy a house that’s already built:
- Buying a house will be more expensive. You won’t have much wriggle room when negotiating for pricing.
- The pricing will be highly dependent on the house’s location.
- The pricing will be highly influenced by current market conditions.
- You won’t get to enjoy many incentives.
- You won’t get to enjoy big discounts.
- You will have more options to choose from when it comes to design and style.
- You can instantly stay in your newly purchased house. Immediate occupation is possible.
- You won’t need to wait until the project is completed.
- You get to check and evaluate a fully completed build. Everything will be presented to you with full transparency.
PROS and CONS of Opting for a House and Land Package
Factor in these advantages and disadvantages when considering to buy a house and land package:
- House and land packages will allow for more savings. They are more affordable than houses for sale that are already built. You can have one for as low as $350,000.00.
- You can avail of grants from the Australian government.
- You can avail of tax cuts.
- You will have limited choices when it comes to location.
- You will have limited options when it comes to house features.
- You won’t need to hire a separate architect, engineer, and designer.
- You get to work with your builder’s in-house talents for the design and build of your house.
- You won’t get to immediately live in your dream home.
- You need to wait for your house to be built.
- You get limited options when it comes to architectural design.
- You need to have the time and energy to collaborate with your builder’s team.
- You need to monitor the build closely.
- You need to check the quality of the materials that will be used.
- You need to be ready for delays.
