The benefits of purchasing a house and land package in Tarneit.
When it comes to purchasing your dream home, the decision between buying an established property and opting for a house and land package is one many future homeowners face. While buying an established home offers the convenience of moving in immediately, selecting a house and land package offers numerous financial and practical benefits that may make the process more streamlined and cost-effective.
What is a house and land package?
A house and land package combines the purchase of land with the construction of a new home. Although it involves two contracts—one with the property developer and the other with the homebuilder—the process is more transparent because you know the total price upfront. Here’s why a house and land package might be the right choice for you:
1. Significant Stamp Duty Savings
Do you pay stamp duty on house and land packages? One of the most compelling reasons to consider a house and land package is the opportunity for significant savings on stamp duty. Unlike purchasing an existing home, where stamp duty is calculated on the full purchase price of the property, with a house and land package, you are only required to pay stamp duty on the value of the land itself. This can result in considerable savings—particularly in areas with high property prices. Imagine how much further your budget could stretch when you’re only paying taxes on a portion of your purchase, rather than the entire property! Jump onto the State Revenue Office website, their calculator will help you understand
stamp duty and the implications for your new home budget.
2. Take Advantage of Government Grants and Incentives
In many regions, building a new home qualifies you for government grants and financial incentives, such as the First Home Owner Grant (FHOG) and other regional or national schemes aimed at boosting homeownership. For first-time buyers, this can reduce the upfront costs of entering the property market. By combining stamp duty savings with these government grants, you could substantially lower the overall cost of building your new home, making it easier to get your foot in the door.
3. Flexibility to Customise Your New Home
One of the main advantages of building from scratch is the freedom to design a home that perfectly suits your lifestyle and needs. Unlike buying an established home, where compromises are often necessary, a house and land package offers flexibility in customisation. You can tailor the layout for future family needs, choose modern finishes, and incorporate sustainable features like solar panels or energy-efficient appliances. Additionally, new homes require minimal maintenance in the early years, and a new home warranty provides extra peace of mind.
4. A Simplified Process
Building a home can be a daunting prospect, but house and land packages can provide a beneficial alternative. Builders and land developers work together, offering a combined product offering that may add value due to specific inclusions. Packages may also further simplify the process with turnkey house and land solutions, meaning your new home comes complete with landscaping, driveways, and other final touches, so you can move in without worrying about the little details.
5. House and land packages at Marigold
House and land packages at Marigold offer a flexible pathway to turning your dream home into reality. With community parks, shared open spaces, and a central location close to schools, shopping centres, and transport links, Marigold is the perfect package for families and investors alike.
Choosing a house and land package can offer financial savings, customisation options, and access to prime locations, all while simplifying the process of building your dream home. By paying stamp duty only on the land component, taking advantage of government grants, and building a home tailored to your needs, you’re not just purchasing a property—you’re making a smart investment in your future.
If you’re looking to maximise value and design a home that fits your lifestyle, house and land packages are now available at Marigold Tarneit.
View available house and land packages.
