As home prices in Queensland continue to rise, first-homebuyers are turning toward house and land packages as an affordable solution. Their popularity may only increase post-COVID with government incentives making these packages even more cost effective. Here are a few points you should keep in mind before selecting one of these deals.
House and land packages provide an easier and cheaper solution than buying home and land separately, while still allowing you to select your design from the outset. Package prices typically include building costs – eliminating surprises later! They are especially advantageous for first-homebuyers as government incentives such as First Home Owner Grant and stamp duty concessions can reduce overall costs significantly.
Springfield Lakes in Brisbane is well-known for its affordable packages. There are a variety of house and land packages on offer in the suburb from different builders; expert mortgage brokers will be able to assess how much financing options you have available to you and offer pre-approval. Doing this will allow you to avoid missing out due to lack of funding, or risk losing your deposit altogether due to being unable to secure financing for the deal you need.
It is essential when selecting a house and land package to choose an area with long-term growth potential, including infrastructure projects, schools and shopping centres which will boost local economies while raising property values. Be mindful of any planned development including roads or public transport services which might affect commute times as this could reduce future hassle.
Do not overlook the ongoing maintenance costs when selecting an area to live. A house and land package could save money in terms of ongoing costs as you won’t need to maintain an existing home which may need repairs or renovations in the long run.
Are you curious about house and land packages available in Brisbane? Reach out to us right now – our experienced mortgage brokers are on hand to guide you through the process and meet all your individual needs, helping you reach homeownership dreams! To start exploring house and land packages in Brisbane, reach out for a consultation or fill out our application form online to receive a quote – we hope to hear from you! We look forward to speaking to you!