Let’s face it: building your first home can be stressful. From orientation and fall, to securing finance and finding a floorplan that fits your block, lifestyle and budget – there are a few factors to consider.
That’s where home and land packages come in. Home and land packages are essentially suggestions your New Homes Consultant has pre-prepared for you. They showcase a selection of available blocks in Victorian Estates along with the Boutique Homes’ floorplan that best suits the dimensions and orientation of the block.
‘Home and land packages provide a good idea of the combined price upfront, but still involve two contracts – one for the land and the other for the new home. We hold your hand through the entire process and make it really straight forward,’ explains New Homes Consultant, Rowan Huxhagen.
‘While you still purchase the land from the land agent, we can make all the introductions and assist you in negotiating land deposits, and then help you build ‘The One.’
To try and make the home building process as easy as possible, we’ve created a simple-to-understand guide to help you find the right home and land package.
First, organise your finance
Before researching home and land packages, it’s important to gain an idea of how much you can borrow and what you can afford in monthly repayments. A clear budget will help you narrow down your property choices right from the beginning.
‘At Boutique Homes’, we can introduce you to our in-house finance team, Resolve Finance. They specialise in construction finance and can step you through the entire process – from your borrowing power and monthly repayments, to how much deposit and savings you’ll need to get a home loan,’ explains Rowan.
‘From there, we can talk about what you’re looking for and where you would like to be located.’
How much you can borrow will depend on a range of factors, including your income, debts and the number of dependent children.
‘Most lenders will require you to show that you’ve saved at least five per cent of your home loan deposit as genuine savings,’ explains Resolve Finance Mortgage Broker, Felicity Mills. ‘This means that the money is in your bank account – untouched – for at least three months before you applied.’
Once you are clear on your finances, it’s time for you to look for your dream home and land package. In the meantime, your Resolve Mortgage Broker gets to work finding you the right home loan deal.
What to look for in the perfect piece of land
Whether you’re interested in one of our home and land packages or looking for a block on your own, there are a few things you should consider:
Location, location, location
Our home and land packages are located within designated building zones, including Metro Melbourne, Geelong, Bendigo, Ballarat and Gippsland. When it comes to selecting an estate – or your own block – think about what matters to you. Do you want to be close to work or to friends and family? How about public transport or freeway access? Research the suburb and consider its prestige and potential for growth. ‘Location is a huge part of the buying decision, as this can help or hinder how connected you are to other aspects of your life,’ explains Rowan. ‘It will also have a significant impact on your property’s future value.’
Land orientation
In other words, which direction does your land (and the home you’ll eventually build) face. Why does property orientation matter? Short answer: sunlight. ‘Often overlooked, natural light can make rooms seem bigger and make you feel happier. Nobody likes to be living in the dark!’ says Rowan. ‘From not having to turn the lights on during the day, to ensuring the kids’ bedrooms don’t get the full heat of the afternoon sun, the orientation of your block matters.’
A quality land developer
If you’re placing a land deposit down, you want to be sure you’re receiving your money’s worth. ‘If there are shops, parks and other facilities proposed for your estate, you want to be confident that they will be delivered,’ says Rowan, who has seen many such plans ditched by developers to make way for more sellable blocks. ‘Delivering on time is also really important. Otherwise, how do you plan your move-in dates or leasing agreements?’ The good news is that experienced builders, such as Boutique Homes’, have relationships with quality developers and can point you in the right direction.
Included amenities
Are schools, shops, parks and shared exercise spaces included at your estate of choice? Not only important for your lifestyle, but a diverse range of amenities can also have a worthwhile impact on your long-term property value and future rental yields. ‘If those amenities aren’t on your estate, consider if they’re close enough to meet your goals,’ advises Rowan.
Land title dates
When land is titled, it means that it is officially ready to begin the build process. At this stage, the land has been subdivided into individual blocks, and infrastructure such as roads, gas and power are in place. ‘Title dates can vary in time – anywhere from right now to a year away. Some people take advantage of a longer title, as it gives them a chance to lock in a price for the land but continue saving all the money they need for the home,’ explains Rowan. ‘Others want to be living in their new home as soon as possible, and so want a title date quickly.’
What about finding the right floorplan?
Remember, home and land packages are just one possible combination. Do you like the estate location, but the floorplan doesn’t meet your needs? Already found ‘The One’ and now you need a block that suits? Your New Homes Consultant can help.
‘More often than not, home and land packages are a conversation starter. They help us gain a really good understanding of you and your goals, and then allow us to help find the perfect package for you,’ says Rowan.
‘While there are ‘rules’ about the floorplan changes you can make, we recognise that no two customers are the same, and we pride ourselves on our flexibility,’ adds Rowan.
‘Our home and land packages in Victoria include all our industry-leading standard inclusions, with a strong focus on quality suppliers and trades. Our prices are fixed, upfront and transparent, while still providing a range of optional upgrades so you can personalise your new home.’
Finance: check. Land: check. House: check. One last thing – are home and land packages turnkey?
A turnkey home refers to a house that you can move into straight away – everything from landscaping, driveways and boundary fences, to blinds, letterboxes and washing lines are included. While the majority of home and land packages aren’t turnkey, your New Homes Consultant can usually find an option that suits.
‘We can discuss how much personalisation you’re looking for and what we can help you to achieve so that you receive the best outcome,’ says Rowan.
Ready to build your first home?
Take our House and Land quiz and one of our New Homes Consultants will get in touch with a personalised package that suits your lifestyle and goals.
Have you found ‘The One’?
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