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Flipping Doreen House And Land Packages For Profit
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You can always flip Doreen house and land packages for profit. But there are a lot of factors that need to align before you can make it happen. That’s why buying and selling a house is neither for the inexperienced nor the faint-hearted because you are putting out a large amount of money for something without a definite ROI. Finding the right builder will allow you to keep your costs low compared with the major developers in the estate without compromising the quality of your house.
Building the cheapest house on a prime property will allow you to piggyback on the valuation of real estate market evaluators. For example, typical Wollert house and land packages might be worth $400,000, by working with a builder with a large network of partners as well as the necessary experience to be flexible without necessarily veering away from the original plan, it’s not uncommon for homeowners to save $50,000 at the very least. Your neighbours won’t even notice that your house costs considerably lesser than theirs. In realty terms, this places you in a prime position to maximise profits when you do decide to sell your house.
Low investor threshold
One key factor is to choose the neighbourhood or estate well. If you are choosing from some Wollert house and land packages, you want a low investor ratio. That means most of the property owners in the community are looking to locate there permanently. If there’s a high investor threshold, the properties won’t be properly maintained and largely unoccupied. That will negatively impact on the total market valuation of the neighbourhood as well as the decision of prospective housing owners to relocate there. Nobody wants to live on an empty street.
Finding the right balance
Clearly, a new homeowner won’t have the necessary knowledge to predict the arc of development in a certain estate. You can’t really determine the investor threshold just by visiting the neighbourhood and certainly, you can’t go around asking property owners. Most realtors know which among the Wollert house and land packages will deliver the most returns. Some builders also possess this capability, and others don’t. Investing in real estate is a constant balancing act of finding the right builder, the right location and the right buyer.
Buying Buy Doreen house and land packagesDoreen house and land packages will allow you to cut down your costs because you are negotiating for a price of one that already covers both the house and land. That will significantly reduce the amount of bargaining, the time involved in processing the paperwork and documents, and finally, the number of paperwork. You need to find a professional builder with the track record and experience not just in the construction process itself but more importantly, in wading through the paperwork
“There is also less decision making. You are guaranteed that the house is designed for the block in terms of things like solar orientation or placement of driveways.”
However, house and land package buyers need to get some important decisions right, Brookfield warns.
“Most importantly, deal with a professional new home builder, someone with a solid reputation and professional sales staff who will work closely with you throughout the buying process.
“Secondly, don’t rush. Take time to consider all aspects of your purchase and ask lots of questions – the more information you have, the easier it is to eliminate uncertainties.”
House and land packages may not be cheaper than buying an existing home, Brookfield says. While you’ll pay less in stamp duty (you only have to pay it on the land; not the house), you do have to pay infrastructure fees and GST.
On the plus side, budget blowouts theoretically shouldn’t affect house and land package builds, Brookfield says. However, the discovery that a site is more complex than at first thought, or a buyer requesting changes during the build, might increase costs.
Make sure you are clear from the start about what your new home will include. And keep communicating during the build.
“Homebuyers and builders need to keep in touch, agree to any variations and keep written records of the agreement and the cost,” Brookfield says.
Real estate market analyst Catherine Cashmore also has a word of warning for house and land buyers: buyers should be aware that the end result might not match what was on display or in the brochure.
“The builder might not have council approval, the council might make them change things without your permission and time limits can be extended,” Cashmore says.
“Do not sign anything until you have a copy of the contract and have taken it to an independent solicitor.”
House and land package buyers should also be aware that selling their house for a profit might be difficult in the short term, as the developer continues to offer new homes in the neighbourhood at competitive prices, Cashmore says.
“There’s nothing wrong with buying a house and land package if that’s what you really want … but you’ve got to be sure this is where you want to live for the next 10 to 20 years.”
Brookfield insists a new project home can be a great option. “With a new home a family can plan for the future with confidence, with no major repair bills and no replacement costs for years to come.
“One of the great advantages of buying a brand new home is also the warranty that comes with it. There is always a possibility that things can go wrong, but if you have dealt with a reputable builder then you will have access to support.”
Jayden Smith is an expert author and has written so many articles on www.berstanhomes.com.au. Now he is working on Buy house and land mernda and house and land. Now he is working on knockdowns rebuild.
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