Ok… So you are eligible for the $25,000 from the government and wish to take advantage of this opportunity… Great! And if you’re a first time buyer you are also have a further 15,000, making it $40,000, not forgetting no stamp duty.
So lets get right into it!
Firstly, as we know developers are selling blocks of land like hot cakes right now. So if you see somewhere you like, put your deposit down quick or you will miss out. Make sure deposits are refundable, as most are, just in case you change your mind.
Speak to a mortgage broker so you know your budget, as there is no point wasting time, as time is of the essence here too.
Secondly, decide if you are opting for a house and land package or you are wanting to purchase land then look for a builder after.
If you opt for a house and land package, at least you will know all the costs up front, as the house would have been packaged for that lot. Make sure to ask if there are any extra costs, if the package is a turn key. If the package is a turn key, ask for their definition, so you are clear. Depending on your builder, the pack will include landscaping, again sure to ask.
When purchasing a block of land, and seeking a builder after purchase, remember there could be more earthmoving expenses, however the builder, will look at the block and offer various designs that will suit your block. Again ask the builder if they include that landscaping, this may not be the case, but always good to ask.
You could always find a house design you like, then purchase the land! Maybe not the best idea.
Buyer BEWARE.. make sure that the land you are purchasing is registered, if you are looking to take advantage of the $25,000 the land needs to be registered otherwise you will not be able to build. Developers can sell land even without registration. Sometimes they are given a registration date, however there is no guarantee that the land will be registered on time. So please better safe that sorry, make sure you purchase registered land.
For more information on packages and builders in your area contact:-
Anne Harris – 0422 799 940