For the overwhelming majority of us, buying a home is the most significant investment we’ll ever make. It only stands to reason then that they will want to get the best possible deal, and of course they’ll want to do things right the first time round.
As you no doubt already know, a lot of people prefer to buy a piece of land, and then build on it at a later point, perhaps when they have more cash. Going down this route can of course prove to be very advantageous. Providing you choose the location carefully, you could the the land increasing substantially in value, even before you’ve built on it.
This is in fact a very popular tactic between land speculators. They buy some land; they hand onto it for a few years, and then they sell it for a tidy profit. Many property investors will also argue that it’s easier to sell vacant land. When you want to sell a ready built house, you have to wait for a buyer that really likes the design of the house. When you sell a vacant piece of land, buyers can build whatever type of home they want, so in essence, you are targeting a far larger group of potential buyers.
Irrespective of what’s just been mentioned, house and land packages gee long are still the more popular choice, and it doesn’t look as if this is about to change any time soon. One reason for this is that many buyers, and especially first time buyers, are very wary of the building industry. As a result, they feel a lot safer when dealing with a developer that’s been in business for a while.
Apart from what I’ve just mentioned above, house and land packages frequently offer buyers exceptional value for their money. In most cases, a developer will purchase at least one or two acres, and then have it divided into individual plots. Since they bought a very large piece of ground, they will almost certainly have got it for a very good price, and a percentage of this saving can be passed on to their buyers.
Secondly, most developers have their own teams of building contractors; plumbing contractors; electrical contractors, and so on. Let’s just say, developers are not likely to get ripped off by contractors, and this alone can save a home buyer thousands of dollars.
Most developers also hire their contractors on a ‘labor only” basis. When a developer supplies the materials for a number of homes, they have to buy in bulk, and this means they get the lowest possible prices. Many developers will pass at least a certain percentage of these savings on to their customers.
Another advantage is that as a buyer, you will have peace of mind in knowing that the quality of material is the same in all the houses on a particular development. Last but not least…….if you’re dealing with a well established developer, you can be sure they have other projects planned, and under no circumstances will they want to jeopardize their reputation.
Author: Joanna CrankThis author has published 4 articles so far.