5 Helpful Tips for House and Land Package Buyers
Opting for a house and land package simplifies everything. With one, homeowners won’t need to connect with different people and varied sources. As everything is already packaged, everything moves faster. All tasks can be centralized so your home can be ready for move-in in just six months. It is also significantly more affordable. This is why more and more first-time homebuyers opt for house and land packages.
Purchasing property can be overwhelming. There are so many factors to consider and enlist. So much so that it’s easy for first-time homebuyers to be confused— some can even be scammed. You need not fret though as we got you covered. Things will significantly be easier for you if you’d follow our helpful insider tips. Buying property is a big life move and you should make the most out of your investment. This post will show you how.
1. Be guided by your budget.
You should always start with your budget. Knowing your limits will simplify your decision-making process. Your first question should be: how much can I afford? For the rest of the construction, it should be: is this within budget?
How much can I afford?
This question is central to your undertaking. Have a definite budget to strictly work around on. You may need to apply for two separate loans and you wouldn’t want to be house poor. Always keep in mind that you’re not just buying a house— you’re buying a house and land. Hence, you should be extra careful with your expenditures.
Is this within budget?
After knowing your definite budget, all plans should revolve around it. You should always check your budget when making decisions.
- When buying a house and land package, opting for one with a fixed price will allow you to save more.
- Ask for a rough estimate for your builder.
- Factor in extra expenditures in your budget.
2. Do deep research on your contractor
Your choice of contractor can make or break your house building plans. You’re spending big money here so you should dedicate days to looking for the best possible contractor. Do deep research on your prospective contractors by checking their online portfolios and reading reviews from former clients. You should only work with highly qualified, licensed, and registered contractors so you should personally check their claims and certificates. You should choose a contractor that will make it easy for you to build the house of your dreams. Choose one with proven integrity, credibility, and superb project management skills.
- Interview former clients
- Visit actual houses built by your prospective contractors
- Observe how they work in the field by visiting an ongoing project.
- Structural guarantee should be secured
- Work with a contractor who can commit to your timeline and budget
- Ask family and friends for recommendations
3. Have a defined timeline
You should decide on a timeline if you want smooth execution and project management. Do you want your house to be done in just six months? Will it be okay if it will take a year for your house to be built? Know the time that you have and the time that you will need to build your house. Being definite with your schedule will allow you to avoid delays.
- Factor in delays in your timeline
- Include periods for getting permits in your timeline
- Factor in changes in weather
- Put your timeline in writing. It will make it clear for all parties involved and will greatly help you should any dispute (legal or not) arise.
4. Choose timeless designs
You need to be clear with your design principle. When coming up with it, all factors should be timeless. You should keep in mind that your house will grow and evolve with you. You will be living in it as your family grows so it should be designed in such a way that it will be easy to provide spaces for other needs like kids’ rooms and workplaces. Houses with flexible designs seamlessly adjusted to the pandemic as owners had versatile spaces that they were able to turn into home offices.
- Know your personal style
- Know your lifestyle: if you like hosting, opt for bigger spaces for entertaining
- Prioritize planning for spaces that you spend most of your time on
- Visit WA house and land packages display homes that can give you ideas on how to utilize spaces wisely
5. Aim to add value
Your house is a solid investment. To future-proof it, you should aim to add more value to it. This will increase its chances of being bought in the market should you decide to sell it in the future. Always think ahead. To do this, you should be strategic in all your decisions. Choose a good location for your house. Choose one that will continue to increase in value and still be sought after for years to come.
- Choose a location that is near schools, public transport, hospitals, and recreational areas.
- Research on upcoming projects around the area. If you think that the lot will end up blocked and cramped in the coming years, look for one that offers growth and promising community projects.
- Having an ideal resale value in mind will help you plan wisely