The choice between buying an existing home and building new can be a difficult one, but when you buy a house and land package, there are significant advantages that could sway your decision, let's look at what makes house and land an attractive option.
No matter what type of purchase you make, buying an existing home, buying land and building new or buying a house and land package, budget will likely be one of, if not the dominant factor in your decision. There are various financial benefits when it comes to home and land packages that you simply can’t take advantage of if you were buying an existing home.
As you are usually buying from the developer or the building company constructing the home, the value of the package has already been set, unlike an existing home where market scarcity and real estate negotiations drive prices consistently upward during the consideration and buying process. An important point not to be ignored is that this will often leave you with significant room to make market gains later on.
Benefit 1. A fixed price for the package - More room for market gain.
If you were looking to buy a section then build on it later you would first need to raise a mortgage for the land, then later negotiate more for the home you want to build, then you need to be certain that the build project doesn’t go over budget, the reality is that most bespoke builds will. However, with a home and land package you are able to obtain finance on the total land and house value based on set plans and costs. Those plans may have also most likely been submitted for consent which is also a time saving, allowing the build to happen faster.
Benefit 2: Obtaining finance is easier - Build time is faster.
Buying off-plan means that the construction company has done the majority of the decision making for you in terms of the build. There will certainly be allowances for some alterations of plans to suit your needs, and this will come with added costs, but what isn’t obvious is the wise choices made by the builders to minimise waste, create efficient build techniques, and buy their materials in bulk to ensure that you get more home for your money.
Benefit 3. Cost efficient build plans - more home for your money.
Most group home builders will have home and land packages on their websites, at Latitude Homes, we are very careful to select what we feel is a good mix of demand for an area and a home plan that remains affordable yet desirable.
We are especially proud to be building home and land packages in Paerata Rise in the Pukekohe area. This is a very exciting development and is proving to be an incredibly well thought out lifestyle community. You can see our packages in Paerata Rise by following this link https://paeratarise.co.nz/build_partner/latitude-homes/
We also have a carefully selected number of available house and land packages from Latitude Homes in the following areas. Click on the area name to contact the local Latitude Homes builder for further information.
