Discover Your Perfect Home
Steps to Building House & Land Packages
Land yourself in the home of your dreams with 8 easy steps
1. Confirm your finances and legal representative
Before you start looking at display homes, you’ll need to get pre-approval on your loan. Your lender or broker can help you do this, as well as helping you set realistic expectations on price. When you know your finances are ready to go, you can act quickly to secure the block where you’ll build your dream home.
2. Find the home to suit your needs
To find the perfect home for you, it’s always a good idea to cast your search as far and wide as possible. Set boundaries on where you’d like to live, and draw up a list of requirements to help you weigh up options to suit your budget and lifestyle.. Our sales team can talk you through your options and assist you as you select a block of land – just make an appointment and start bringing your new home to life.
3. Pay your holding deposit & Exchange of contracts
Your $1000holding deposit is fully refundable, and is paid initially to secure your block of land. This payment takes the block of land off the market and provides you with 14 days to exchange contracts.
Once you’ve paid your deposit, your contract will be issued to your solicitor or conveyancer. When you are ready to sign, they will forward the email with the signing link – no special programs necessary. Wherever you are, you can sign your contract from any device with internet access.
Upon exchange, the contract will be secured with a 10% holding deposit This is paid in two instalments (5% on exchange of contracts and 5% on settlement).
4. Choose your design specifications
This is the part you’ve been waiting for! Select your colours, fixtures, finishes, appliances and fittings. These are the personal touches that transition a house into a home.
5. Apply for approval
When we’ve finalised everything on our end and you’re happy with the plans, we’ll submit them for approval with the relevant regulatory authorities. This includes council and BASIX.
Your legal advisor will help you during the settlement process. If your land is unregistered, you will need to register with the Land Registry Services after which you’ll have 21 days to settle on your block. If your land is registered, you will have 35 days from unconditional exchange or from the date specified in the contract of sale.
7. Build home
Once you have settled on your land and your plans and tender are approved the builders can get started on building your new home!
House and Land Packages FAQs
Got questions? We’re here to answer them all.
1. How do house and land packages work?
House and land is bundled into one package with two separate contracts: your home design and build, and the land itself. House and land packages are custom designed – for the block. You can tailor the design to fit with your lifestyle and all the necessary regulatory requirements.
2. What is a turnkey house and land package?
A turnkey home is ready to live in. Unlike a house and land package where the home is yet to be built, a turnkey home is completely move-in ready. Find out more about the key differences here.
3. Is stamp duty payable on house and land packages?
When you buy a house and land package, you could be eligible for a stamp duty exemption.
4. When is the house built?
Construction on your home begins once you’ve settled on your land, signed the building contract and your plans have been approved.
5. Is a house and land package worth it?
If you’re looking for convenience and an upfront cost, a house and land package provides this transparency.. It takes all of the effort out of building a home, and allows you to account for all your costs from day one. For more information on whether a house and land package is right for you, contact our friendly sales team today.
Don’t see your question? Want to chat with our expert team of home consultants, or check out our display homes? Contact us today and find out more about whether Waterford is the right fit for you and your new lifestyle.