Browse Forums General Discussion 1 Jul 22, 2014 10:14 pm Hi all, not sure where to post this, hope ive got it right. Im looking to purchase a first home at the end of the year. Ive been focused on buying an established home as the H&L packages are almost always on too small a lot for my liking. (something i can add a large shed to). Ive been looking into these again and found more and more with adequate sized blocks. They are more than i was originally going to spend on an established house, but with the $15K grant ontop of my savings they are still doable for me. Ive noticed all the H&L packages ive seen on realestate.com.au are all just design pics, with no construction started yet. Meaning there wont be enough time to have one started and ready to move in by the years end as i would like. Is it possible to get a H&L package already built? Or do they all require a buyer to sign on before anything begins? Is there any issues with this, if possible? As this is the only way i can imagine i could still get a H&L package, within the timeframe im after. Re: house and land packages 2Jul 23, 2014 7:02 pm Hi Stewie4124, Im in Victoria and we have H&L packages either not built yet (to plan) or with the major builders. Have a look at the builders....ie Metricon, Boutique, Carlisle etc in the areas you want. The new estates where the open display homes are will have 'just built homes' for people to buy. Do you homework on prices as I do notice the prices are a little bit higher than normal....everyone gets their cut!! Good luck Every day above ground is a good day Every day above ground is a good day Re: house and land packages 3Oct 02, 2014 1:18 pm A home and land package is a far better way of buying as long as the builder has done his work properly with the packaging. Traps be careful when the package is not inclusive of site costs. This basically means you will be up for big dollars extra on top of the price quoted. By buying a package like this you don’t need to waste time looking around at land and if your home design of choice will even fit the land. Find a builder that you are comfortable with then ask to talk with the builder not the sales staff then you will get the answers you need. Re: house and land packages 4Oct 02, 2014 3:01 pm not in the time frame you're after. Sometimes H&L can be bought mid build, but these are generally projects that have already started (like a row of units) or someone else's failed contract they've pulled out of for whatever reason. Builders aren’t in the habit generally of starting H&L builds without a buyer. It’s a risk to them, when people looking at H&L are 99% usually resigned to waiting the popper period. Plus, ready designed builds mid progress don't generally have your input into them. For rows of units/townhouses, these are generally even more poorly put together than a single home that you (theoretically) can have more control over. Also generally the unit/townhouses are priced well over their value. I’ve seen 3 bed apartments going up in Werribee starting at $550k, but you can buy a house and land for two thirds of that around the corner. Id avoid both of these options if considering a H&L package. Ultimately you need to consider your reason for buying. Is it a forever home? Starting a family? How long will you live there? Are you planning or renting it out later or selling? Is there appropriate amenities and infrastructure for your 5/10 year plan? Are you going to pump cash into the mortgage to build equity or are you going to take out an interest only loan and hope for a decent capital gains and a decent deductible investment debt when you move to another property as your PPR? Also if you are buying purely for investment, you may be interested to know that as long as you don’t live in whatever you buy, you won’t be forgoing your FHOG eligibility that can be used at a later date. Might be something you want to consider. Creator of superduperonium, expert at expert things, nobel laureate, can hold my breath for 10 minutes. Re: house and land packages 5Oct 10, 2014 10:33 am The other item to consider is the stamp duty. When you purchase a house & land package, you pay stamp duty on both the house & the land. When you purchase a block and then build on it after, you only pay stamp duty on the land itself. Re: house and land packages 6Oct 15, 2014 9:19 am @dgriffen - This is a good insight, I didnt know that you pay stamp duty only on land when you buy a block and then build on it. Any idea whats the stamp duty rates on land? Say a AUD 330K land (350 sq meters). Any incentives for first home buyers on that. Any pointers will be appreciated. Cheers, Sam Re: house and land packages 7Oct 15, 2014 11:34 am stamp duty is payable only on the land on H&L packages if the building hasnt started. The termnology used has confused the situation. If you buy a H&L with a house already on it - its not really a H&L package despite being exactly that by definition. stamp duty on land can be found on most states state revenue deprtment websides - for vic it is " State revenue office". As to incentives? The main incentive is a low stamp duty. I believe some states *may* have further discounds, but to put it in perspective I paid jus over 2k for a 155k block. as opposed to 40k for an established home the size of on ei jus built. Creator of superduperonium, expert at expert things, nobel laureate, can hold my breath for 10 minutes. 13 6632 2 5502 Scientists have used random matrix theory to demonstrate theoretically that the neutrino mass hierarchy can be explained mathematically. When a substance is fragmented… 21 20651 |