Most people often quail at the thought of house and land packages. They consider it too much of a hassle. However, it is not as complicated as one might consider. While the simple thought of going through all the information which is available can be over whelming, but purchasing a house and land package isn’t that much of a big deal.
Home and land packages work best for people who want to build a new home on the kind of property they want. It’s an excellent opportunity for them to make an investment in something which they strongly believe in.
The following information on house and land packages in Bundaberg would help make things simple:
- There are usually two kind of house and lad packages. These are buy to build or pre built.
- Buy to build refers to a package wherein the developer has already purchased land on which they plan to build. The land is already divided into a number of plots which you can purchase with the building process already underway.
- A prebuilt package on the other hand is where a contractor has already built a home and it is ready for purchase.
Things you need to consider with house and land packages in Bundaberg
Land from the package is usually bought from the government. The contractors then build a house on it and then put it up for sale. However you need to consider the following things when it comes to house and land packages in Bundaberg:
- The mortgage on the land. It is the regular kind of mortgage where you have agreed on purchasing price and look for a mortgage provider who would offer you nominal rates.
- Construction for loan. This is a process in which the building process is divided into a number of steps. After each step is completed you need to make a payment after you are completely satisfied with the whole process.
- All land packages require at least 5 to 10% deposit. For the deposit you can get a loan from a bank or any mortgage provider.
Some other things to consider include the infrastructure of the place where you are considering buying the house and land package. Consider things like connection to public transport. While this may not seem of much importance to you, it can have a major impact on your quality of life once you move into your new home.
House and land packages make up for a good investment. Mainly because new homes have almost little to no maintenance. Since the fixtures and everything else in the home is new you don’t have to worry about damages and repairs.
You can also enjoy the benefits of depreciation is a new home. You can make deductions for the depreciable assets in your new home. Sometimes the deductions can go as high as tens or thousands of dollars and allow you to claim the benefits which you would get on the rate of interest.
JRZ offer house and land packages in Bundaberg. They are the right people to contact if you want a property in Bundaberg.