For property buyers on a budget, it’s a pretty common dilemma… should you be going for a house and land package or an apartment? Many buyers across the country, especially those looking for their first home, as well as first time investors are faced with this challenging decision. It is important to weigh up the pros and cons of purchasing a house and land package against an apartment. Read on to find out why house and land packages by Vantage Luxe Homes are the way to go.
House and Land Packages
A house and land package offered by Vantage Luxe Homes is a ‘package deal’ that includes both a new home and the land on which it’s built. Youare able to select the block of land of your choice and then choose from a number of beautiful and totally customisable home designs.
In addition to different financial incentives on offer in New South Wales, especially for first time buyers, “all-inclusive” packages are extremely affordable.This is perfect for those whoare looking for a big house on a decent-sized block. Buyers are often surprised by the incredible affordability of house and land packages situated right on the fringe of the city. This is an incredible opportunity for families who work in the CBD, but still want a quieter family home lifestyle. Northwest Sydney is only 40 kilometres from the Central Business District and unlike with apartments, you will have access to a wonderful backyard and remain in close proximity to parks and schools.
New-build packages also offer something brand-new and luxurious which appeals to many. There is certainly something wonderful about knowing a house is new, just yours and that no one else has touched it. Every aspect of a home designed and built by Vantage Luxe Homes is thoughtfully created in accordance to your exact tastes. You will have input into the design and colour scheme of your home and will end up living somewhere which truly suits you and your individual needs.
Furthermore, in new estate areas where land and house packages are often available, you tend to get a lot of like-minded demographics.Knowing there will be, for example, lots of young families around you, with similarly-aged children, can be enticing from a social point of view and is important to consider.
There is a large supply of apartments close to CBD, and this close proximity to the workplace and stamp-duty discounts may seem enticing. However, there are many things a buyer should consider before purchasing and apartment.
Financial risk, unexpectedly high outgoings and the challenges working with a strata body are some of the biggest downsides of apartments. In particular, there is a greater risk when it comes to financing of brand-new apartments, as your bank needs to agree with the price you paid and there are oversupply issues to consider.
With higher-density developments, featuring things like pools, gyms and concierge services, outgoings can be high. These outgoings often don’t become obvious until you’ve settled. Sometimes what’s pitched to you and what you actually get, and are up for, can be different and that be a significant cost for buyers.
Furthermore, apartment owners are required to work closely with a body corporate or strata body. This means that as an owner you must agree on shared costs with others. If something goes wrong structurally, something big owners can evenbe out-voted and face a large expense. This can be a huge turn-off for buyers, who want to have total control of their home or investment.
It is also important to remember the larger differences that apartments have from house and land packages. For example, sharing the same walls as your neighbours, the lack of a backyard, or even being located up several stories of the apartment building.
As you can see, there are number of important considerations that should be made, before making a final decision. If you want all the incredible benefits of a house and land package, thoughtfully designed and built at the highest possible quality, contact Vantage Luxe Homes today. Together, we can turn your dreams of the perfect home into a reality!