House And Land Packages: Are They Worth It?

If you bought the land first and then build your new home, you will have two contracts – one for your mortgage on the land and a construction loan for the build of the house. The same concept applies to house and land packages where you also have the same two contracts. Green homes house and land packages bring together a carefully selected block of land and a professionally designed, energy-efficient home. These packages are created to simplify the building journey while ensuring your home is built with sustainability in mind. On the one hand, buying land first and building later provides more time to save funds for your home’s construction. Although, if you are currently renting, it can be a financial juggle to cover rent payments while also managing the repayments on a land loan.
See what’s included by exploring our inclusion levels and discover the thoughtful touches that make a Coral Home unique. Every home is built with premium materials, innovative designs, and lasting durability, ensuring you enjoy exceptional value. Whether it’s a cosy starter home or a spacious family residence, you can expect stylish finishes and practical layouts that cater to modern living. Learn more about what First Home Buyer Loans Australia makes Coral Homes the trusted choice by visiting our Why Coral Homes page. Offering unparalleled industry insight and experience, we can help turn your home design ideas into a reality. Whether you have big plans for a complete customisation or only a few small ideas, choose Plunkett Homes.

It generally comes down to how confident you are comparing loans and taking care of the application admin by yourself. Products shown are based on an owner occupier who is refinancing a $500,000 loan, with principal and interest repayments and an LVR of at least 50%. Products are sorted by lowest interest rate, then lowest comparison rate. You'll be assigned a home lending expert who’ll call you to chat about any features you’d like to include, such as our construction option and splitting your loan. No matter how much planning you do, unexpected costs and delays are sometimes inevitable. So it helps to know regulations, the process and any tips before you start – check out the Australian Government’s yourhome site.
If you choose this option you may only need a 5% deposit, with the rest payable once the home is completed. Choosing AXTON Finance for your house and land package financing means accessing specialist knowledge, personalised service, and ongoing support throughout your entire building journey. We handle the complexity of coordinating land purchase settlements, construction loan drawdowns, and final loan conversions, allowing you to focus on the exciting aspects of creating your new home. A variable home loan has repayments that can change when lenders adjust their pricing in response to market conditions and business decisions.
If you’re wanting to purchase the land first, and build later, there are lenders that will lend up to 95% of the purchase price, or the  valuation of the land itself. You can buy it with two contracts, a land contract and a construction contract. So, you’re basically buying vacant land and then hiring a builder to build you a home.

If you buy a house and land package where you pay an initial deposit, then don’t make final payment until the property is completed, then you’ll have to pay stamp duty on the whole price (land and construction). Whereas if you buy a house and land package where you purchase the land separately and pay the builder separately, you’re only paying stamp duty on the land. Most buyers require financing to pay for their house and land packages.
A well-oriented home feels brighter, more comfortable year-round, and is cheaper to run. New homes tend to be a lot more energy-efficient than established houses. In fact, Blake says all Easystart homes are built to a 7-Star Energy Efficiency standard, making them far more energy efficient than existing homes. There’s the $10,000 First Home Owner Grant and, stamp duty exemptions (which means you don’t need to save as much deposit), plus low-deposit finance schemes. Either way, the house and the land are marketed together for a fixed price. Although the phrase “turn-key” can have many different meanings, the heart of the understanding tends to be about the single fee.
Reputable developers are more likely to deliver on promises, ensuring quality construction and meeting projected timelines. Researching the developer’s previous projects and customer reviews can offer valuable insights. When comparing turnkey and design and build packages, cost, convenience, and potential return on investment play key roles. Turnkey packages often come at a higher upfront price but offer immediate convenience and are ready for occupation or rental right away. Looking for green homes house and land packages that combine sustainability, affordability, and modern design? Our energy-efficient house and land packages across NSW, QLD, and WA are designed to help you build a smarter home while reducing your long-term living costs.

This means items like soil testing, slab design, retaining needs, and connection fees are factored into the price from the beginning. Your journey begins by choosing a house and land package in your preferred location. Once you’ve done this, you’ll then need to pick a home design that suits your lifestyle. Yes, you can generally refinance a land loan, even if you haven't started building on the land yet.
Armed with all the information you need, you can look forward to moving into your new home with complete peace of mind. A key consideration when buying a house and land package is the fact you’ll need to wait for the property to be constructed before you can move in. When opting for a house and land package, it’s essential to do your research on the developer’s background and reputation before committing to a purchase. Deposits for house and land packages will generally range from 5% to 10% of the total purchase price, so find out what the requirements are for your chosen package. The rate shown is the Simplicity PLUS Residential Investment Property Loan index less the applicable special offer discount. The rate shown is the Simplicity PLUS Home Loan index less the applicable special offer discount.

It is distinct from a traditional mortgage because there is no physical building to act as security for the loan. If you take out a singular land loan, there’s no requirement to build on the land immediately, but lenders will want to know your intentions, as unsecured land is seen as a riskier investment. A land loan, also known as a vacant land loan, is a type of financing for a land purchase that does not have an existing home or structure on it. A streamlined application process begins with developing a comprehensive plan for your project. This includes finalising your land choice, builder selection, and financing structure before submitting your application.
For example, some homebuilders will include the driveway, fencing, and landscaping while others may not. For this reason, it’s essential to clarify the inclusions and exclusions in the house and land package prior to committing to the build. If this is your first time considering a house and land package, there are a few key questions you should ask to ensure you’re making the right decision for your first home or investment property. House and land packages offer a more streamlined option for buyers and investors.
Our finance team have been with Elephant from day one, delivering expert home loan solutions for over six years. Starting from humble beginnings in a shared office space, Shehan and Gavin slowly built up a loyal customer base through a reputation for excellent customer service and results. For a free consultation on your home loan options, give us a call or come in for a chat at our Mount Waverley, Port Melbourne or Chadstone offices. CommBank My Property gives you the flexibility to access, track and manage your investment home loan and property performance in NetBank and in the CommBank app. Access expert guides, calculators, and help with government grants and schemes — all designed to make your journey easier.

Access to public transport and main arterial roads, schools, shopping precincts, parks and recreational areas are all important for resale value,” he explains. Think carefully about the layout to ensure it's suitable now and in the future. Thinking ahead when deciding on the layout of a new home is important. Dual living areas can be a handy option when children come along and it can be useful to ensure a home has capacity to grow with a family.