As what almost everybody knows, procuring a house and land means having a lot of money to acquire such a property. It takes many years to pay the mortgage, with the assurance of owning a property. However, only a few consider it as a wiser way of living – paying the mortgage on a soon-to-own house and land rather than paying a monthly rent for a property that will never become theirs. In today’s advanced age, many home builders and developers offer affordable Newcastle home and land packages to middle-income families in New South Wales.
How Does House and Land Package Work?
When you choose to buy a house and land package, it usually consists of two loans, arranged in a bundle (or it can also be arranged separately). You can apply for a regular mortgage loan to purchase the land first. Then, you can apply for a construction loan to build the house of your choice. Most of these ways of acquiring a residential property are offered as one of the Jordan Springs house and land packages and Oran Park house and land packages in New South Wales, Australia.
Helpful Tips for First-time Home and Land Buyers
Most first-time home buyers are vulnerable to impulse buying or misleading advertisements by developers whose only goal is to sell lands and houses for profit, neglecting the essence of honesty and integrity. Because of this so-called business tactic, educating yourself about the basic things to know when buying a house and land in New South Wales or when considering to buy one of the affordable Newcastle home and land packages is essential.
· Land must be a Titled Property
A land title or certificate is a legal document which holds the information of the owner of the land. When you purchase a land or any property, make sure that there is a title that is transferred to your name. Beware of verbal agreements as everything should be done with the aid of a legal authority.
· Learn the importance of long-term investment
When considering to purchase a residential property, always remember that a piece of land appreciates in value over time while a house depreciates. Choose a block or a piece of land that will give you that opportunity. As most housing experts advise, blocks located on a quiet and peaceful street or those opposite a school or park will definitely appreciate in a more greater value over time.
· Study the developer’s profile
Always consider quality over quantity. Try to ask your developer if they build walkways, parks, recreation centers, and other lifestyle amenities inside their estate. Ask about the timeframe of the construction period for your house to be built. Also, try asking some of its clients about their evaluation and recommendations.
Whom to Call?
If you are looking for affordable Newcastle home and land packages, as well as new home designs in New South Wales, there is one expert whom you can trust. Call for Eden Brae Homes for your new home designs NSW has to offer.