What exactly is House and Land Packages? House and land packages provide an affordable housing loan solution, enabling you to bundle both the land and the financing for your new house. Now, most of the new construction taking place right now is mostly being done by land developers. Therefore, many investors are looking forward to getting a house and land package from the developer to make a profit on their investment and have a house and land for themselves, their family and even their future generations to enjoy.
The main advantage of buying a package from www.fairmonthomes.com.au is that you will pay lesser as compared to individual loans or in individual instalments. Moreover, it has been seen that people, who have an option to buy a house and land package instead of buying an individual piece of land, go for the packaged deal. Another significant advantage is that these House and Land packages can be taken for any construction purpose. Therefore, you do not have to be restricted to one particular purpose. Flexibility is one of the main reasons why many people like these house and land packages.
There are many different types of house and land packages available in the market. You just need to do some research, and you will find many lenders offering great options for financing a new home. For example, a person looking for financing a new home can go for a fixed rate house and land package, which many banks offer. This package offers a lower interest rate than the other options and has a long repayment period. It also allows the borrower to choose between different house and land packages suitable for his requirements.
On the other hand, there are the house and land packages offered by different developers. Usually, developers offer these packages at higher rates of interest which are usually attractively designed to make the investors interested. These developers take a heavy amount of commission from the selling agents, which further reduces the original purchase price. But, this does not mean that the developer intentionally tries to give the investor a below market value package.
An important thing to keep in mind is that it is the right of the buyer to negotiate with the builder to get a better house and land package from www.fairmonthomes.com.au. The builder, on the other hand, has to convince the investor by presenting a lucrative offer. This is because the builder needs the investor to provide the necessary amount of investment to the builder. For this reason, the investor should be convinced that he/she is making the right decision by purchasing the house and land package from the particular developer.
Two Contracts: Most investors prefer to purchase Home and Land Packages Adelaide offered in two contracts. This means that if the buyer wants to buy a plot for a specific sum of money within a specific time frame, he will get a written offer that clearly states the amount of money, the time frame for which the plot is available and the process of negotiation for getting the contract renewed. It is imperative that the buyer clearly understands the terms and conditions set out in the offer. In case if the deal is agreed upon, then two contracts should be kept. One contract should be executed by the buyer and one by the seller. The executed contract is called the “buyer’s contract” while the one obtained through the “seller’s contract” is known as the “sellers’ contract”.
Time Frame: Many people do not understand that getting houses and land packages in two contracts is a disadvantage. This is because they have a misconception that developers agree to sell a house and land package to their customers within a stipulated period. Many times the developers charge an exorbitant rate for renewing the buyers’ contract. The developers try to make the customer pay an additional amount for buying an additional plot.
No Compromise: Most people feel that getting Home and Land Packages Adelaide in two contracts is no compromise. They feel that the developer will try to impose terms and conditions on them, which are more onerous. On the contrary, you can indeed expect flexible terms and conditions, and there is no compromising with any of the factors. You can negotiate for house and land packages at any point in time you like.