Buying your first home can be challenging, especially if this is your first time being exposed to the real estate industry. Familiarising yourself with various policies, offers and choices is a good way to start. One of the fast-growing industry choices made by future homeowners is availing house and land packages.
You have probably encountered house and land package offers in Donnybrook, Victoria. Is it the right choice for you? Here are some facts about house and land packages worth knowing to help you in your decision making.
Stamp duty tax savings
A lot of homeowners invest in house and land packages because it helps them reduce tax costs significantly. Because a home is yet to be built in a particular piece of land when you purchase it, only the value of the land is taxed upon purchase basically exempting you from paying house taxes.
One stop shop
Having a land, finding a contractor who can build the house that you want, also while having someone fix all the necessary paperwork can be a headache to find if you do not have the leads. House and land packages are attractive to buyers also for this reason.
One of the best things about new houses is that you would not need to maintain them or at least a good five years. Constantly going through repairs and replacements is not only a headache but is also very costly. Moving into a new home can help you reduce stress from such problems.
Enjoy these perks and more when you invest in a house and land package.