House and Land packages are one of the best investments available in the Australian real estate market today.
Most federal and state governments are offering lots of benefits to owner-occupiers such as exemptions on stamp-duty and generous government grants, which means there’s a massive amount of interest in these types of dwellings. I have a few tips here for investors that are looking at buying house and land packages, because if you get the right one, they are great investments.
1. Get a discount on your H&L package
House and Land- It is possible to get a discount on a house and land package, and if you do you will hit the ground running. For instance, if you can find a parcel of land worth $200,000 but you manage to negotiate a discount and actually purchase it for $180,000, you’ll create $20,000 worth of equity. Shop around different reputable builders to find one that can deliver a less expensive package than their competitors. If a build is going to cost $220,000 try to negotiate it down to $200,000. If you’re successful, that’s another $20,000 worth of equity. All up, you’ve received a $40,000 discount.
This is a fantastic principle if you’re looking to buy a property in a growth market and create some inherit equity.
Other tips and strategies include:
2. Buy strategically in a market poised for growth.
3. Buy where there is a high owner-occupier rate.
4. Ensure your developer has a proven track record and check their credentials.
5. Make sure the property you are building suits the needs of the people who live in that area.
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