Myths and Misconceptions about House & Land Packages
House and land packages have become a popular choice among homebuyers in New Zealand, offering a convenient and often cost-effective way to build a dream home whilst staying within a budget. Despite their growing popularity, there are several myths and misconceptions surrounding these packages that may deter potential buyers. Things such as house and land packages being a poor investment, or only for first home buyers. In reality, these packages are an excellent choice for a wide range of buyers and offer a great solution, with customised building options to suit any New Zealand buyer.
In this article, we look into some of these myths and misconceptions and offer insight into what house and land packages really offer homebuyers.
House and Land Packages are Only for First-Time Homebuyers
A common misconception when buyers are looking into house and land packages, is that these packages cater exclusively to first-time homebuyers. In reality, house and land packages in New Zealand are designed to accommodate a diverse range of buyers, including up-scalers, down-scalers, first home buyers, retirees, and investors. Such a package offers the convenience of an all-inclusive build, but the homes are tailored to cater to an expansive range of requirements. Whether you are a young couple building your first home or a seasoned investor seeking to grow your portfolio, house and land packages offer flexibility and customisation to suit various needs and budgets.
House and Land Packages are One-Size-Fits-All Solutions
Another myth is that house and land packages offer a one-size-fits-all solution, with limited options for customisation. As each purchaser has a different set of requirements in their homes, it is important for these packages to offer flexibility. Numerous factors influence your overall experience including what builder you choose, the size of house, size of land, specs of finishes, cladding, double or single story and of course what deposit you have, and your bank’s interest rate offered. The home design and details are unique to your requirements, and although there are many baseline features offered – the house and land package is an efficient way to create your dream home.
Read our blog about the tips for customising House and Land Packages.
House and Land Packages is a Bad Investment
The charm of a custom design and build approach can be appealing. You may be interested in the personalisation of one feature or many in your new home. The custom design offers you the freedom to independently secure the land, collaborate closely with a builder and contractors, as well as giving your own flair to the landscaping. It is favourable for many that the home buyer has a say in every step of the building process. As you enter into the design phase, focus on the aspect of a home that really matters to you, your family’s needs and reflects your lifestyle. Being so involved in the custom design and build process nurtures a real sense of ownership and creativity.
You will also notice, if it is your first custom build, how many elements there are to consider. Many buyers choose to work with architects or other consultants so they can really make the most of each step in the process. In New Zealand’s housing landscape, a custom design can help your home to stand out as a unique and grand home design in a subdivision.
Historically house and land packages have not been seen as investments, as they are often purchased in a new and emerging subdivision for those that purchase for the livestyle. Because of this these packages have been perceived as a ‘poor’ or ‘bad’ investment. Whether you purchase a second hand residential, new build house and land package or a pre-built home, they all are good investments. Like any other property investment, their value depends on various factors such as location, market trends, and the quality of construction. Any home package can offer attractive returns on investment over time, house and land packages in particular offer the appeal of a new subdivision, easy access to necessary amenities and a new home – which remains appealing for resale or rentals. With careful research and due diligence, house and land packages can be a lucrative investment opportunity for home buyers.
Read our blog to find out more about the financial benefits of buying a House and Land Packages.
House and Land Packages are Expensive Than Buying a House Separately
Some potential buyers may assume that house and land packages are more expensive than purchasing houses separately. In today’s market, the cost of second-hand residential and new-build homes is often equally priced. With this in mind, these type of packages may offer added benefits such as modern amenities, energy efficiency, no immediate changes and personalised considerations for the buyer, making house and land packages a competitive option in the real estate market in Auckland and across New Zealand.
A House and Land Package Take Longer to Build
Building a home from scratch does take time, however the idea that house and land packages inherently take longer to build is not entirely accurate. The timeline for construction depends on various factors such as consents, council inspections, material deliveries, weather conditions, and the complexity of the build. As house and land packages are often built with an emerging subdivision, the efficiency of these factors can be quicker than building an individual home built in a separate location. This is because these factors will likely get approved at a similar time, and the building and contractors are often the same across the subdivision allowing efficiency across the builds. With proper planning and project management, house and land packages can be completed within a reasonable timeframe, ensuring that buyers can move into their new homes as scheduled.
House and land packages offer a versatile and customisable solution for homebuyers in Auckland and across New Zealand. With a more informed approach to purchasing your next home, potential buyers can choose the right pathway towards owning your dream home. Whether you are a first-time buyer or an experienced investor, exploring the options available in the New Zealand housing market can lead to a rewarding and fulfilling homeownership journey. Read our blogs to find out more about the questions that you should ask when buying a House and Land Packages and the things to know before buying this type of packages.
At Paerata Rise, we have a wide range of house and land packages in Auckland. To find out more about building your dream home at Paerata Rise, get in touch with us today.