Land vs House & Land vs Turn-Key Homes: What’s The Difference?

So you’ve decided to build your next home. It’s an exciting time of life and there’s nothing quite like that new home smell! Your choices are only just beginning. Should you buy land first and build later? Or does a house and land package or turn-key solution suit you better? Let’s take a closer look at the differences.

Buying Vacant Land

Securing vacant land to build on is a dream option if you know exactly what you want to build or if your personal style or needs for a home are quite specific. Or, if you know where you want to live yet aren’t ready to pay money to build or move straight away. However, building a custom home from scratch means a lot more work for you in finding contractors, organising permits and paperwork, site costs and making every single design decision. Unless you’re committed to putting in a lot of extra thought, it’s likely to be a more expensive option too. This can traditionally be overwhelming for first home buyers but, especially for experienced home buyers, it could be satisfying to take on a project that’s so hands-on when you know exactly what you want.

Buying a House and Land Package

This is usually the route first home buyers take to build because it’s simple, affordable and you tend to be guided along the way by the developer and your chosen builder through the entire process. Experienced home buyers may also want a smoother – often faster – build experience this time around. A house and land package means you’re buying land, house design and build all in one go. This makes the contract process easier and a lot of the prep work has already been done for you by the developer and builder. You’ll have limited choice in how the house looks and any changes will typically add to the price, but modern architects know what works for most people. You can move in straight away once built but there will be some big things you may still have to add and take into account when calculating your overall budget…

Buying a Turn–Key Home

“Turn-Key” homes are the easiest option of them all! This concept means as soon as you turn the key to your front door for the first time you can move in with nothing (or very little) else to do. Heating, cooling, fences, landscaping, letter boxes, driveways, blinds – even little things like toilet roll holders and door stoppers – could all be included in your contract which may not be in typical house and land packages. A “turn-key” home can be a townhome (typically built on smaller blocks, with minimal if any yard space, where you share some walls with other residences) or a stand-alone home. Choices for the above elements will be somewhat limited. But, this option’s perfect if you’re really busy, don’t want to make more decisions and want a truly streamlined building experience. Plus, figuring out your total budget is much easier.

Whether you choose to take the land, package or the turn-key path to your new front door at Jubilee, you can discuss your options with the Estate Manager, William Agnew. Get in touch with him on (03) 9684 8185 or book an appointment with him here.

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