For the most part, building new means getting the home you want, built to the most modern building codes. So let’s run through the benefits house and land packages have to offer, as well as the things you need to consider.
You can choose the best design for you
House and land packages offer you the option to customise your home. With a vast majority of home buyers claiming they would like to personalise their space and structure, this gives you the flexibility to do exactly that. House and land packages and turnkey solutions are one of the easiest and fastest ways to buy a home that can be tailor made to suit a family’s needs.
Costs are clear
The price is normally pretty clear up front for house and land packages which is good for buyers whose finance is pre-approved. In many cases professional interior designers and architects are involved in every aspect of the design which ensures a high quality product without the costs associated with consultancy fees.
Technology advances gives control to buyers
Home buyers now have enormous flexibility to choose their perfect block of land, match it to their ideal design and select their preferred builder online. The buyers are in total control of every step.
Better value for money
A house and land package often provides better value than an existing house in the same area.
First home owner grants
If you are buying a first home you may be eligible to receive the KiwiSaver HomeStart grant. There are a number of great incentives for first home buyers buying a brand new property or buying land to build on. For example; building or purchasing a new home, or for purchasing land to build a new home on, the grant is, in effect doubled.
Investor benefits
Because a house and land package is new, you’ll have a warranty if there are any problems. It will be easier to tenant and likely to have few or no maintenance outlays. Depreciation is an allowance you can claim to cover the costs of wear and tear and general ageing of furniture and fittings you've bought for your rental. You can combine assets worth less than $5,000 rather than depreciating them separately. You cannot claim depreciation on the rental's land or buildings.
The bottom line is that buying a land and house package offers complete control. Whether you’re starting small and looking to build something special over time or know exactly what you want from the start, you may be surprised to find that the perfect land package is well within your reach.