House and land, townhouse or land only — how do you choose?
Location, size and control of design are just some of the factors that you’ll want to weigh up in choosing your perfect new home.
If you’ve made the decision to buy into a new community, you’ve picked an ideal time to make the move. There are great masterplanned developments with a compelling mix of house and land, townhouses, or just land to purchase.
The challenge is, with so much on offer, finding what’s right for you can be confusing. Each has its benefits when it comes to factors such as location, size and design options. If you’re weighing up your decision, here are some considerations that might help.
Start with the big picture
To begin, there are a handful of ‘big picture’ considerations that will steer you in the right direction. Anne Jolic, Head of Victoria Lendlease Communities, says location usually tops the list.
“Everyone prefers to live in an area where they can access important everyday essentials like shops, schools, transport or parks,” Jolic says.
Jolic says technology should also be a high priority – in particular, fibre-to-the-premises internet to facilitate work or study from home.
Another factor is finding a like-minded community to live amongst.
“We know the small things like benches, paths and parks are actually the important things,” she says. “This is where people spend so much of their recreational time, it’s where families play and relationships develop.”
House and land
With these fundamentals set, it’s time to think through the right type of purchase for your needs.
For those prioritising size, value and convenience, house and land is a popular option.
Jolic adds that buying a house and land package means that you have access to experts, where things like site inspections, surveys and council building approvals are managed for you.
“There are also the structural guarantees offered by builders that come with a new build or renovations, that you do not have with an established one, which means your future home is built to the best standards,” says Jolic.
By purchasing a house and land package now, Jolic says that you can lock in your price upfront to secure your desired land size and home design combination.
The development timeline also means that you have more time to save while your home is under construction, as opposed to buying an established property where the loan repayments start sooner.
Anne Flaherty, economist, realestate.com.au, says one of the advantages of a house and land package is being able to see what you're getting when you buy.
At many new communities, you can visit a display village to compare and contrast the different options to pick out the one best for you.
“That way, you can have more confidence in the end result,” Flaherty says.
Townhouses
If you’re looking for a more budget-friendly option that still has great access to shops and transport, then a townhouse could be for you.
Jolic says townhouses are designed to maximise smaller land sizes, with many offering spacious two-level floor plans that are perfect for singles, couples, downsizes or investors.
“Without compromising on a sense of space, a smaller footprint generally means less maintenance, less mowing — and more time to live life,” she adds.
“It’s also even easier to lock-up and leave with peace of mind that your home is safe and secure.”
A new townhouse offers the best of new home design, community amenities and affordability, Jolic says.
“For example, the Harpley townhouse floorplans are also oriented to maximise airflow and natural light, ensuring they are enjoyable to live in.”
Land only
Buying land only means you have a ‘blank canvas’. By partnering with a builder of your choice, you have freedom to create your dream home in the exact way you want, as well as enjoying flexibility and planning of timelines.
However, with builders in high demand, Flaherty cautions buyers to make sure they have their finances in order and work out a construction schedule that includes a level of flexibility — particularly ahead of the busier months.
All bases covered
Whichever option you choose – house and land, townhouse or land only – Jolic says there are great communities around Melbourne to cater for all buyers' needs.
“Our communities such as Harpley, Averley, Aurora and Atherstone are in Melbourne’s growth corridors,” she says. “Buyers can enjoy the best of both worlds with convenient access to the city and regional areas.”
Source: REA
