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Looking for your new or forever home can be an exciting but overwhelming experience. Here at New Generation Homes, we love helping our customers and their families find the perfect house for them and their needs.
If you’ve heard the terms “turnkey home” and “house and land package” but are not quite sure what they mean or what the difference is, this blog is just for you.
A house and land package is an aptly named option for new home owners to purchase a property and a pre-designed house during the same ‘transaction’ or as part of the same deal. The pre-designed house is then developed by a builder according to the agreed terms and specifications of the plan.
What are the benefits of house and land packages?
There are many reasons why you may want to opt for a house and land package.
For one, there are plenty of cost savings. There are minimal design-related costs when it comes to the house itself, and even more savings to be had thanks to the competitive nature of a house and land package compared to purchasing the land and then building a new home independently.
Secondly, there’s the convenience factor. For many people, the thought of procuring, managing, and designing a new home is too much hassle, work, and stress. A house and land package drains the inconvenience out of the process by providing a ready template with which you can build your new home.
Another benefit is the ability to customise your house design. The pre-designed templates act as just that, a template. There’s still plenty of scope to perfect, individualise and change your design to suit your needs and wants.
A turnkey home is a property that is complete and ready to be lived in straight away with no work from the buyer. In other words, the house is ready for you to turn the key and move in. Hence: turnkey!
When builders or developers create a turnkey home there should be no aspect of the process that requires your attention by the end of it. From the structural construction to the internal furnishings and finishes, it’s ready for occupancy from day dot.
A lot of homebuyers are looking for turnkey homes due to their affordability (compared to investing additional work and money into an established house) and convenience, as well as quality. Turnkey homes are often easier and less stressful compared to a custom home.
Of course, every builder and developer have their own process and varies in quality and reputation. Always make sure to do your due diligence before signing a contract.
The biggest difference between a turnkey home and a house and land package is the amount of customisation available and level of involvement necessary during the construction process.
House and land packages use pre-designed houses, but these designs are subject to your customisation requests. There’s still significant amounts of flexibility and control over everything from the layout to the materials used and even the finishes.
A turnkey home is already built and finished. It’s completely ready to live in. To that end, as a buyer you have far more limited ability to make changes, especially to the design and foundational layout.
The cost also differs between turnkey and house/land packages. In some cases, a turnkey home is more affordable because the builder can take advantage of economies of scale when it comes to material costs, for example.
A house and land package, due to the level of individualisation, can be a little more expensive as you tweak and add and change the previously prepared design to achieve the home of your dreams.
If you’re trying to choose between one option or the other, it’s worth bearing in mind a few factors that can influence your decision.
1.Do you want a specific design?
If you’re not worried about having flexibility in customising your home, a turnkey home could be the right fit. If you wish to tailor a home design to suit your lifestyle and needs, a house and land package is best.
2.What’s your timeline?
House and land packages are not pre-built and ready to go, so you’ll need to factor in a timeline for construction. If you need to move in straight away with no delay, a turnkey home may be more suitable.
3.What’s your budget?
Everyone’s budget is different. Cost is always a major factor and if you’re working with a tight budget, you’ll need to closely compare the associated cost with both options.
4.Where is the house / land located?
Location is always an important consideration when buying a home. With turnkey homes, you’re likely to find them in pre-existing neighbourhoods and developments. House and land packages are well suitable to newer estates or areas.
5.Do you want to be involved in the design and construction process?
There is no involvement in the construction of a turnkey home. If you’re inexperienced with home construction, not sure what you want or just don’t want to be involved, a turnkey home is the best option. However, if you’re interested in creating a customised home for you and your loved ones, a house and land package gives you exactly that opportunity.
There are certainly pros and cons to both approaches and options. It’s always recommended that you get in touch with professional, reputable builders and developers to discuss which is right for you.
New Generation Homes has been trusted by West Australians to help them find their dream homes for decades. Our team will help you complete comprehensive research and compare all the different options available, so you can rest assured you’re getting the best deal possible.