What is a House and Land Package?

The term 'house and land package' is used by home developers to describe a 'package deal' that includes both a new home and the land on which it's built. There are thousands of developers offering these packages throughout Australia and not all of their house and land packages are alike. In fact, you will probably find that every developer offers a slightly different package or even will have a variety to choose from.


There are two basic types of house and land packages:

1. You select the block of land of your choice and then choose from a number of standard or customised home designs. These packages are sometimes called 'off the plan' packages.
   
   
2. In most cases, a house and land package will consist of a pre-built home and the land it is built on.

Whichever package you choose, the completed home must pass minimum quality standards as required by Federal, State and local authorities. However, the quality of materials and workmanship between different house and land packages varies considerably. Some are designed for first home buyers on a budget while others are luxury homes  designed and built for an executive lifestyle.

How to Choose a House and Land Package

With so many house and land packages to choose from, how do you narrow the field down? Start by looking at the base prices offered by developers in the area you want to live in. They will always advertise their best deals, but the difference between a budget 3 bedroom home for first home buyers and and equivalent luxury package is still large enough to give you an idea of what you can expect to find.

Once you have narrowed down your options, look into the developer's credentials. Most developer's are reputable, but the only way to know for sure is to check their track record. Stay away from a developer who has a past record of frequent complaints.

Choose a range of developments in your area. Starting with the one that is in the most ideal location for you, contact their sales representative or visit their on-site sales office. Choosing a house and land package is a three or four stage process:

1. You will begin by discussing your needs and budget. Once this is done, you will be shown a variety of options within your range. If you are buying off the plan, you may be able to inspect a display home. If you are looking for a complete house and land package, you will be able to inspect a variety of homes.
   
   
2. If you were shown the perfect home for you, you can move on to stage four, but if you are buying off the plan or did not see exactly what you want, discuss your preferences with your sales representative. Many developers offer customised designs and layouts.
   
   
3. When you have a clear idea of what you want, discuss every detail of it with the sales representative. Do not assume that what you see is what you will get. Does the price include the covered patio you saw on the display home or in the brochure? Is landscaping included? How much more is that granite kitchen benchtop you have your heart set on going to set you back?
   
   
4. Once you have chosen a house that suits your budget and lifestyle, you will then discuss home finance. Off the plan and total house and land packages usually have different finance plans. Commonly, you will pay 5% (or whatever the prevailing rate may be) down on the land and the house, but deferred payment options are sometimes available if you are going to be waiting for your house to be built.

For most Australians, the family home is the biggest investment they ever make. For all of us, it represents a significant investment. Such an important investment should not be taken lightly. Don't "sign on the dotted line" until you have had all of your questions answered to your satisfaction. Be realistic about your budget, both now and into the future. If you take these basic precautions, you may find a house and land package that allows you to move into your dream home sooner than you ever dreamt you would.