Owning a home is one of the biggest milestones that everyone wants to achieve. If you’ve read our previous blog about property prices, this is definitely a decision you want to get right the first time.

There are different ways of getting into the property market, getting a house and land package is one of them. Read on for our 2022 guide to find out everything you need to know about house and land packages. This will help you find out whether this is the right option for you and your family.

What is a House and Land Package?

A house and land package seems clear enough to grasp, but taking in the entire process and what is involved can be tricky to understand. Basically, it allows a buyer to be able to acquire a block of land and a new home in one process but with two contracts. This makes the package a popular option to buyers as it saves time and money, as it can be a more affordable way to find the best property that suits their needs, especially since purchasing a house and land package means you only pay stamp duty on the land component.

Choosing which type of House and Land Package – Turnkey vs. Traditional

A turnkey house and land package is a popular option, especially to buyers with strict budgets and want the process as simple as possible. With these packages, you could literally turn the key in the lock and move right away as the name suggests, having everything you need to move in completed. The total cost of everything is included in the turnkey price, making it easier for possible buyers to have a goal in terms of saving and also know exactly what they will be spending. The buyer would need to find a trusted and experienced home builder, as they would rely on them to be efficient to make the project a success.

Comparatively, traditional house and land packages allow the buyer more flexibility and inclusions throughout the entire process. With a traditional house and land package, the buyer is able to organise some things themselves, enlisting the services of professional landscapers to front and back yards for example.

House and Land Packages as a First Home Buyer

If you’re a first home buyer who is looking to secure a land to build your home on, you might be eligible for government incentives. The government has recently expanded the Home Guarantee Scheme for 2022-2023. The scheme was previously capped at 10,000 until June 30, 2022. However, the Federal Government has announced that the scheme is now up to 35,000 places plus an additional 10,000 places for buyers in regional areas.

Successful applicants would be guaranteed up to 15% of the value of a home that a borrower purchases by the government. This means they may be able to purchase a home with a deposit as little as 5%. There are price caps on properties depending on the state you’re in as well as other criteria for eligibility.

House and Land Package at Lofty

A house and land package is a practical and an affordable option to ownership making it popular for good reason. Lofty Building Group is different from most house and land package builders in Adelaide. We take pride in being a custom builder meaning we offer complete flexibility giving you to design your dream home as you see fit – with our advice of course. It’s important to note that as we are a custom home builder, even our house and land package designs are able to be customised and changed according to the home that you want and need. When you see a house and land package advertised with Lofty, we are presenting an option of a house that will perfectly suit that block of land. If you like the block but want to change the house design and layout, we can easily make those changes for you.

We tailor and adapt any of our plans to suit you so that you end up in the home you desire. Our house and land packages offer choice, control, flexibility, quality workmanship, timeless designs, and are packed with value. It’s our aim here at Lofty to build you the home that’s the perfect fit for you, your family and your lifestyle. It all starts with a conversation. Get in touch here.