Are you planning to build your own house? Buying a house is a huge investment and not everyone can afford it. To simplify the buying process and to reduce the cost of home, first time buyers should consider house and land packages. Home builders offer deals on new homes and the land on which the house is built. When combined together, the deal is known as house and land packages. Many developers offer these attractive packages to make it easy for the buyers to purchase a home. Coming across the dream home and completing the buying process with ease is the goal of many. The buyer in the process owns the land where the house is constructed. Actually, the land comes as a bargain and you may directly negotiate with the land owner or the developer. There is no middle man attached herein. 

House and land packages give buyers the liberty to choose the land where they want to construct the house. As a buyer of land and property, you may shortlist the locations where you would like to construct your dream home. Then you may get in touch with concerned property developers to discuss out the project and to negotiate over the price. The developer will show you the models of home and you may choose a suitable layout. 

The Down Payment Is Usually Lower 

For those who are considering a house and land package must know that the down payment or upfront payment here is far lower than in usual cases. In the meanwhile, as an investor you would have to apply for two different types of loans. The first one would be the mortgage loan for the land and another one would be the construction loan. When the house is under construction, you will be charged minimal rate of interest or simply the interest fee. But, after the construction is complete, the loan takes the form of huge payment structure. Therefore, you get enough time to arrange home funding. 

The Benefit of Placing Custom Requests 

If you want to have a home of your desire, then a pre-owned house is not for you. The buyer in this case, however, has an opportunity to acquire land rights and then plan the layout of the home. You are free to decide on the type of floor you want, the number of electrical outlets you wish and the number of rooms. All your customized requests will be fulfilled in the new house if you buy the package. When the construction is fresh, you don’t need to change flooring, change the wall colors and bear these costs. Everything will be fresh and new which again eliminates the need for hiring a professional contractor to do these. You can talk about the home features you are looking for. Just discuss that out with the developer. Again, it is tempting to have a house with interior and exterior features of your desire. 

Factors to Consider 

When buying house and land packages, you have to factor in things like color, interior designing and fit out, the process of payment, negotiation and purchase, the location suitability, energy efficiency, kind of  neighborhood, planned community, financing options, the cost of buying and many such things. It is best to do some research on house and land packages before taking a decision. Consider the infrastructure of the area, the educational institutions, shopping malls and retail outlets, and connectivity of the area before finalizing the package. 

It is important to make sure that the land you are choosing for construction must allow construction of the home you want or the home design you are eyeing for. It is necessary to carry out paperwork diligently and quite slowly. Ask all important questions from the developer, but in the end, the choice of house and land will depend on your needs and preferences.