Buying your first house and land package can be quite a daunting task, but it can also be incredibly rewarding. To make the most of your house-and-land-package-buying experience, keep the following tips in mind:
Give careful thought to location: House and land packages are typically sold on new estates, so there will be limits to the areas you can choose. Look for an area that best suits your lifestyle. At its most basic, your new home should be close enough to your place of work to make the daily commute bearable.
Pay the display village an actual visit: Reputable developers will have display homes that will allow you to see for yourself exactly how your home will look. Give each design a thorough inspection and choose the one that looks and feels best to you. Ask the developer about the materials used as well as customization options, as these can affect the cost of the final home.
Check what type of package you’re getting: Developers usually have either of two package types: you buy the land from the developer before building commences or you pay deposit to begin building and buy the entire package afterwards. In the first, you benefit by only paying stamp duty once on the land, but you have to make regular payments even if you haven’t moved in yet. In the second, you defer payments until the home is built, but you pay stamp duty on both the house and land.