Gone are the days during which one would have to spend insurmountable amounts of time until you get to build your dream home. The contemporary world not only offers a multitude of styles, designs, and products within a range of affordability, but it also incentivizes the process of building your dream home through house and land packages.
There has been a rise in the rate of resorting to land and housing packages in recent times. As advocated and provided by house and land packages Melbourne, the concept behind this system involves purchasing a block of land from a developer which is then transferred to a home builder chosen by the customer who builds the house as per the wishes of the customer. They usually work as a bundle deal where the prices are allocated for the land and the construction of the house. As much as the package itself is luring and exciting to dive into, it comes with a host of pros and cons.
First and foremost, tenants love brand new houses. House and land packages are not only the ultimate opportunity to build your dream house from scratch while adding your personal touch to every nook and corner, but it also gives you a chance to add up-to-date modern facilities as well. This makes it a viable opportunity to attract prospective tenants.
The deal also puts a seal on skyrocketing maintenance costs. Since houses are built from scratch there isn’t much to worry about regarding immediate maintenance costs which provide financial relief to customers.
The process also lays down a flexible allocation of money. That is, you could tailor your house to either suit your personal style or at other times to maximize the potential of investment.
In contrast, costs for house and land packages come with additional or extra costs of developer workmanship and marketing profits. These costs are equal to the capital which would have to be purchased for the house.
Moreover, such projects involve a lot of uncertainty. For example, one might not be sure whether the final product will meet their expectations, they will not know much about the surrounding houses and facilities coupled with the uncertainty over the number of prior similar properties sold to other buyers.
Another major disadvantage lies in such properties being located in the outskirts of the city where there is stringent economic growth and modernized facilities which hampers the capital growth and makes it quite inconvenient to complete everyday tasks due to the lack of economic improvement.
Thus, house and land packages narrate a very compelling story for people on the lookout for building their dream home. It is in fact, a rather interesting investment given, all of the advantages it holds. However, this must not overshadow the disadvantages it entails as well. Thereby, it is important that buyers who opt for house and land packages to make wise choices in terms of the packages they choose for houses.