Browse Forums Building A New House 1 Oct 10, 2013 3:50 pm Hi, I'm new to housing. We are planning to get a house and land package in either kellyville, ponds, ropes crossing etc. Still we didn't go to see any display homes. We went to a mortgage broker and got an idea of the limit we can go. So i would like to know what is the process from here onwards. Hope most of you can give me guidance to go to the next steps. I searched and read many threads in this forum, but still i'm bit confussed when it comes to matching the process from A-Z. Can anybody provide me guidance. Thanks in advance. Re: What is the process for house and land packages ??? 2Oct 13, 2013 7:06 pm there several types of home and land package from my knowledge. - 2 Contracts home and land package. Similar you pick the land and choose independent builder. - 1 Contract For the one that I got at Ropes Crossing, it is split contract i.e contract on the land + contract with the builder. I know my friend is getting only one contract i.e paying 5% deposit to the builder and the rest on completion. I am guessing this type, the land title is already on the builder. Best to talk to Sales office. Re: What is the process for house and land packages ??? 3Oct 13, 2013 8:09 pm House and land packages seem to have an attractive price but they are not always the best way to go (See http://www.anewhouse.com.au/2012/02/hou ... good-idea/) If you decide to go this way you will need to find a builder that has got packages available in the area of interest. The land agent should be able to tell you which builders have got deals. You then go and see the builder to see what they have got available. Generally the final cost will be quite a bit more than the initial price as you will will probably want some upgrades and you will require additional costs like:Garden, Paths, Fences. The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. Re: What is the process for house and land packages ??? 4Oct 13, 2013 9:23 pm Thanks. I'm thinking of getting a land and house package at the same time, so my mortgage starts when it is completed. I searched lot via realestate web site and it seems that most of the new developments are bit far to my son's school.(Girraween). But there are lot of new houses (land and house package) in isolated locations. (only about 8-10 houses in a big land, not big developments like ponds, ropes crossing etc). Most of those seperated developments are done by Western Sydney Property Developers who don't have that much of a good history. So i'm bit scared to go to them only becuase i have heard bank's valuation on their properties are low. (in that case i have to pay the balance from my own pocket, which i don't have that much of money). Is this story i heard about less valuation by banks true ? How can i find assure i can get the same valuation from bank if i go to Western Sydney Property Developers ? Can anybody please give me an advice me ? Re: What is the process for house and land packages ??? 5Oct 14, 2013 4:14 pm Hi, 1. You should not sign anything until you get full approval from the bank. In this way you are not bind to anything and you will for sure get the money from the bank without your own pocket money. 2. Why the bank give less valuation is an BIG question as well, as my knowledge they are using 3rd party vendor to value your plan. 3. I am using a builder that in my opinion is fantastic that he goes through everything include the necessary step to take into the bank and only ask you to sign contract when you have approval unlike other sales man. If you need the detail, I am have to pass his contact to you. Re: What is the process for house and land packages ??? 6Nov 11, 2013 12:40 am hi, got a question regarding mortgage - Say the land and house package offered from a builder, it has 2 contracts from land vendor and builder, do I have the option to apply for 2 separate loans or single load? if so, what are the pros and cons? Wouldn't it better to have single loan for less paper works? and reduce the unforeseen risk that not able to borrow for construction load but committed the land sales on early stage? Thanks very much! And would the landscaper/contractor generally involve the engineer or is that something the client would do? Thanks for your help 2 10572 I apologise for any confusion, but your understanding is correct. We approached our situation differently based on advice from… 11 54485 The most definitive answer to your question James is this taken from the James Hardie Axon Cladding Installation Guide - i just happen to have it… 5 4110 |