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When it comes to property investment, there are numerous possibilities as the real estate agents Thomastown explains. A house and land package could be an appealing investment option. If you are looking for houses for sale Thomastown, you can also consider looking for the land packages because it comes with a number of benefits. This gives you a cost-effective and handy option that eliminates a lot of the stress that comes with home construction. Money and time are saved by bringing together a number of the steps involved when you are investing in Real estate Thomastown packages. This is why investor-friendly house and land combinations have grown so popular. However, like with anything in life, there are some drawbacks to consider before deciding whether this is the correct investment strategy for you.
The most significant benefit of buying house and land bundles for investors is that it will make the process of creating a new bespoke home much easier. This is because you don’t have to seek for a plot of land first, then select the suitable contractor. Instead, you can check both of these boxes at the same time, and you’ll have someone to talk to throughout the procedure. It’s worth noting that you’ll still have two contracts: a construction contract and a land contract.
By purchasing a house and land bundle, you can save a lot of money. You only have to pay stamp duty on the land portion of the acquisition if work on your new home hasn’t started yet. Tenants prefer modern and energy-efficient homes as an investment because they cut their living costs significantly. You may potentially be able to deduct the entire cost of your investment.
Another great advantage of house and land bundles is that the builder will already be familiar with the region of land you will be purchasing. This means they’ll be able to put their expertise to good use when it comes to putting up the greatest design plans for the piece of property you’re buying. If your property is on a slope or has an odd shape, a custom house builder can create designs that can accommodate these features.
There is no unwanted servicing with new property, at least for the first several years. After you purchase the property, you won’t have to worry about anything breaking apart. When building a home, you can typically customise some features to meet your personal demands or to maximise the return on your investment.
To begin with, you may discover that you are in a vulnerable area. This is due to the fact that the vast majority of these house and land packages are located on the fringes of cities. This is in locations where land is plentiful. Infrastructure is often lacking in these areas, and economic factors are limited. This means that capital growth may be harder to achieve by. This isn’t always the case, though. However, it emphasises the importance of selecting these items with caution and carefully considering the area.
Many individuals dislike the element of risk that comes with purchasing a house and land bundle. You have no way of knowing whether the neighbouring residences and facilities, as well as the quality of the finishing, would satisfy you. In terms of the final bank valuation, there is also some uncertainty. Will it stand up to scrutiny? You must also examine the worth of the land. When looking for a property to invest in, it makes sense to go for one with a large proportion of land value.