Land and house packages in Donnybrook estate offer attractive investment opportunities to individuals who want to be home owners or those seeking investment options. But how well do you understand these packages? Below are some of the details of buying these packages:
As it is in buying a mortgage or investment property, you need to present financial documents as proof of your ability to repay the loan you will take. The financial documents include your tax return, payslips, and bank statements. In the construction phase of the property, you need a building contract, building consents from the local building council, and building work quotes.
When obtaining financial help when buying a land and house package in Peppercorn Hill, it is crucial to make a deposit for the land loan and a separate deposit to secure a construction loan. The good thing is that the stamp duty for these packages apply to land alone, unlike where you pay full stamp duty when buying a complete home. The maintenance costs on your property will also be minimal over time.
When buying packages for investment properties, consider that you will have to wait for the construction process to come to an end before you can market the property and get tenants. You will have to cater for the monthly loan payments from your budget. However, once you have the structure in place, you will, without a doubt, enjoy returns.
If you are a first-time home builder, you are eligible for the First Home Owner Grant from the government. The grants are not the same throughout the country. Thus, you need to check with your state authorities for the grants that are available to you.
Buying land and house packages in Donnybrook is an attractive venture for both investment and residential options. Even then, you need to understand what these packages are and what they involve before making a purchase. Working with a development company will eliminate the guesswork from property investment.