Located in the growing Sunshine Coast suburb of Mount Coolum, this investment property was purchased Home Scouts for…
Are you looking to buy a house and land package on the Sunshine Coast?
In what is good news for buyers of land in Queensland, that the Qld Government has begun work on amendments to land sales legislation to strengthen consumer protections for ‘off the plan’ residential property contracts for the sale of land.
Changes will be made to legislation to make sure property developers can only invoke a ‘sunset clause’ to terminate ‘off the plan’ contracts for land in specific situations including:
– with the written consent of the buyer; or
– under an order of the Supreme Court; or
– in another situation prescribed by regulation.
Buying a house and land package can be an excellent investment, especially if you’re a first-time homebuyer. The idea of having your dream home built to your exact specifications on your desired plot of land is incredibly appealing. However, it can also be an overwhelming process, especially if you’re new to the real estate market. Here are some key factors to consider when buying a house and land package.
The location of your land is one of the most critical factors to consider when purchasing a house and land package. Your location will not only impact the price of your property but will also have a significant effect on your lifestyle. It’s important to consider factors such as access to public transportation, local amenities, schools, and employment opportunities when deciding where to buy your land. Think about the long-term value of your investment, and whether the area is likely to increase in value over time.
Size and shape of the land
The size and shape of your land will also impact your overall investment. A larger black of land will generally be more expensive, but it will give you more flexibility in terms of the size and design of your home. However, a smaller block of land can be more manageable and less expensive in terms of ongoing maintenance costs. Consider the shape of the land and whether it will impact the design and layout of your home. A sloping block may require additional engineering and foundation work, which can add to the overall cost of your project.
Orientation of the block
Design experts suggest properties with ideal house orientation often are positioned as north facing to make the most of the direct sunlight through the day, especially in winter when the sun is at its lowest. In the middle of summer, too, this means your garden may be away from the sun’s full force. The Sunshine Coast Council has a great guide for designing for our climate and it can be found here.
Your choice of building design will impact the overall cost of your project. A custom-designed home will generally be more expensive than a pre-designed home, but it will give you more flexibility in terms of the layout and features of your home. Consider the size of your family, your lifestyle, and your future plans when choosing a design. Make sure that the design you choose is in keeping with the style of the area and that it’s appropriate for the size and shape of your land.
Choosing the right builder is essential when purchasing a house and land package. Look for a builder with a reputation for quality workmanship and excellent customer service. Check their references and speak to previous clients to get an idea of their experience. Make sure that your builder is licensed, insured, and has a track record of completing projects on time and within budget.
The overall cost of your house and land package will depend on a range of factors, including the size and location of your land, the design and features of your home, and the reputation of your builder. Consider all the costs involved in your project, including building and permit fees, landscaping, and ongoing maintenance costs. Make sure that you have a detailed budget in place before you start your project, and that you have a contingency plan in case of unexpected expenses.
Financing your house and land package can be a complex process. Speak to your bank or mortgage broker to get an idea of your borrowing capacity and the types of loans available to you. Consider factors such as interest rates, repayment terms, and any additional fees or charges. Make sure that you have a solid understanding of your finances before committing to a purchase.
Before committing to a purchase, make sure that you understand the terms of your contract. Check that all the details of your project are included in your contract, including the design, construction, and payment terms. Make sure that you have a clear understanding of the timelines involved in your project, and that you have a contingency plan in case of unexpected delays or issues.
Purchasing a house and land package can be an excellent investment, but it’s essential to consider all the factors involved in your project. Careful planning, research, and attention to detail will help you make the right decisions and ensure that your investment is a success. If you need support through this process or advice on the purchasing of land or a house and land package, speak to us at Home Scouts, who are always here to help buyers.