What Is a House and Land Package?

If you are looking to buy a plot of land and choose your own house to be built on that land, it would be in your best interest to secure a house and land package.

A house and land package is extremely flexible. Builders can purchase the land and secure a price that’s calculated by combining the land cost and building cost.

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You can negotiate for a deal on this package and be able to select the specifications of the house you want built on the land.

There are two main types of house and land packages. This includes the standard and turnkey.

Standard packages include the land, and you build the house on it later after you’ve secured settlement and gotten a construction loan. It can appear to be less expensive, but site costs and other fees can pile up during the construction process.

The turnkey packages are when you’re purchasing a new home that’s on the developer’s land. You can move in immediately and it’s considered to be the safer option since you don’t have to deal with those hidden building costs.

Seek the advice of reliable professionals before you take this route. If you want to choose your land and have a role in the development of your home, this is an ideal option.