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House And Land Packages – A Worthwhile Investment
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Many investors often assume that an established house is a cheaper option than a house and land package. However, on closer analysis, when you consider the hidden costs and potential renovation, buying a readymade home works out to be more expensive. Renovations and modifications can add to the expenses. With a house and land package there is always room to add extras to suit the owner’s lifestyle. Ducting, air-conditioning and heating, and the installation of environmentally friendly equipment can all work out to be much cheaper than renovating.
Reap the benefits of community living
Melbourne’s suburbs like Doreen offer a choice of lucrative investment opportunities. This includes Doreen house and land packages in the beautiful suburb that offers residents a quality lifestyle just 26km from the humdrum of Melbourne’s Central Business District. The town is home to three private schools, a primary school, a thriving shopping centre, supermarket, and many more facilities. There are several restaurants, medical facilities, and parks while its proximity to the foothills of the Yarra Ranges and forested banks of the River Plenty, make it one of the most enviable places to live amidst nature. When it comes to investment in house and land in Doreen it is undoubtedly a worthwhile investment in more ways than one.
The basics of a house and land package
When you choose a house and land in Doreen, the two are purchased separately. The first step is to choose the land in the best location and the right size to suit your budget and family’s needs as well. It would be prudent to have your finances organised in advance so that you stick to what you can afford. The second step involved is the initial deposit and signing a contract of sale for the land with the help of a solicitor. The balance payment will need to be made as per agreement while the next step is the settlement, which usually takes place a month from the exchange of contract. The title of the land is then transferred in your name
Once the land is transferred in your name, it is time to submit your building plans for approval to the council. Your builder will have design guidelines in place to ensure that your plans aesthetically appeal to the theme of the neighbourhood. Once you have chosen a design, your preferred builder will prepare a new home tender. This details the costs associated with building and a Contour Survey or Soil Test report from a qualified surveyor and engineer, which is presented to your lender in order to pre-approve the loan. With an approved loan, you are one step closer to owning your dream home.
When looking for house and land in Doreen make sure to choose a reliable builder with experience. Remember, statutory approvals could take time, so be patient. However, it is well worth the wait.
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