Today, people are going for house and land packages. They can be a great option for people who are buying houses for the first time. They have a number of qualities and attributes that make them a great buy. Moreover, there are tax savings, cost savings, and the chance to make the home as per your requirement.
Qualities of House and Land Packages
- With such house and land packages, people can customize their house according to their requirements. You can go beyond the beauty part and still think of more reasons to buy them. You will not need to shell out any penny for years to come. You can choose best quality materials for your house and your house will last longer.
- You might get deductions on taxes and also on stamp duty. Besides getting discounts on listing prices, you will also get some other benefits as well. The state governments lure new buyers with options for lucrative savings. Many developers offer instalment facilities as well.
- It will be a very close-knit family. A house and land package offers good return value in the market. Apart from that, you have the freedom of choice. There are numerous floor plans available and you can customize a layout for your dream home. Basically, developers offer such house and land packages within a community and they can build several houses within a restricted area to build a community. So you can choose the best land and house plan according to your needs.
- Always remember, that building a home from scratch is a long process. The foundation has to be laid. Moreover, a lot of time goes into finalizing the building material, fixtures and designs. Thus, house and land packages have their own benefits, and you can save your valuable time by choosing such packages.
How to Get Hold of Good House and Land Packages?
If you are a first-time buyer, do shell out some more time for the ultimate buy. Probably, you had heard of this type of house package. You should know all the sources. Nowadays, property dealers buy a lot of land when the government gives it at low rates. They generally buy it in auctions. There are two different types of packages.
They are buying the land first and then building the home on it. The second option includes, buying the readymade or existing house. The second one allows you to move into the home easily. You get a lot of while purchasing the second one. However, you have to compromise on the quality and the designs. The developer will make it according to his will.
You might need to take a loan as well. You can go for home loans. There are various options to pay for those loans. You can either pay construction stage-wise or if you are buying the ready home then you can pay the amount on delivery.
The Costs Involved in Buying House and Land Packages
Generally, you need to pay 10 percent for the land and 5 percent for the construction of the house. If you are buying the ready house, you need to shell out just 5 percent. The fun part is that, when you are housing the entire package, you need to pay the stamp duty only. In the second case, when you buy the ready house, you need to pay duty on land and the house.
You need to produce a few documents for the loans. You can search such house and land packages online and buy the best one to have a great life ahead.