Ready built homes V House & Land packages

Ready built homes Versus House & Land packages

Is there much profit to be made (equity gain) buying pre built houses compared to if you buy a house and land package ??

I'm thinking you would make more money if you went and bought the house and land package but just wondering if I could make some equity gain if I bought a ready built home due for completion in say 3 - 5 months time, rather than house and land package ?

Are there any spreadsheets where I can plug information into? and what kind of spreadsheets do I need to look at?

I'm thinking catalina or wellard. You can buy pre built cottage blocks for around $400 k, rents for $460 per week. 58 Anteres Clarkson - Catlina estate - 233 mq $409 K

This might be the way to go for me as it will be close to neutral after depreciation, and less repair/maintenance cost, no strata fee, and sinking funds.
 
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Out of interest I looked at one of the Melbourne based company who apparently locates a land and build a house for you.
They presented a house on a 350 sqm lot in Mango Hill (QLD) for 446K!! plus 20K more (PM fees, stamp duty on land etc.). They claimed their product is premium... well who doesn't claim that. That was our end of communication :)
 
Out of interest I looked at one of the Melbourne based company who apparently locates a land and build a house for you.
They presented a house on a 350 sqm lot in Mango Hill (QLD) for 446K!! plus 20K more (PM fees, stamp duty on land etc.). They claimed their product is premium... well who doesn't claim that. That was our end of communication :)

hmmmm all those extras. Yeah I'd have to look into that! the extras I mean!

I'm really just trying to figure out what to do to start my research. I'm a total newbie! If I'm buying a house and land pakage, l'll need to firstly visit some company's but before I visit them, i need to write a whole heap of questions down on what to ask them. I'm not sure where to start!

I might do a search under sash's username as he has talked before about what is involved in the process. Compile a list! hehehe
 
Anyway I've decided just to lurk here for a while and think things through! I was getting way too stressed out the last few months. I think I know what I'm going to do now strategy wise and also I'll wait a few months first and rebuild my buffer a bit before buying. Ill keep researching and going to home opens. Hopefully my tenant will sign the lease contract so then I can put my loan application through. That is all that is holding me up.

See ya for now! :)
 
Anyway I've decided just to lurk here for a while and think things through! I was getting way too stressed out the last few months. I think I know what I'm going to do now strategy wise and also I'll wait a few months first and rebuild my buffer a bit before buying. Ill keep researching and going to home opens. Hopefully my tenant will sign the lease contract so then I can put my loan application through. That is all that is holding me up.

See ya for now! :)

Settle down woman :p:D
 
Ready built homes Versus House & Land packages

With a H&L package you maybe up for more initial costs as you put in your 'hurt' money first for the slab etc before the bank commits and then when they do, with progress payments you will be paying interest until built.

Packages vary also (fencing, landscaping) and there may be restrictive covenants in some estates.

Remember that the Display homes always include much more than the standard house and land packages.

Equity growth is not a given especially in the short term, as the developer and builders may still have other new homes in the area at competitive prices

You should have less maintenance issues and warranties with the new build

Many of the larger development companies offer 'free' or 'bonus' incentives also, though there is this Warning on buyer incentives

Alex P Keaton said:
I might do a search under sash's username as he has talked before about what is involved in the process. Compile a list! hehehe

Sounds good, hopefully Sash posts here for you as he'll have some good feedback on the process
 
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