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The advantages of house and land packages

The advantages of house and land packages

The vast majority of people are still finding it extremely hard and prohibitively difficult to afford a home. This is primarily due to the unprecedented property price growth we have experienced in recent years. In addition, slow income growth for the average Zambian has resulted in real estate prices being beyond the means of most. For those in the middle to lower-income bracket that can somehow afford to buy a home, they typically have to compromise on location and property type. Faced with such a dilemma, many homebuyers are turning to house and land packages to get their foot on the property ladder. On average building, your house is more affordable than buying a move-in ready home. In this article, we will take a look at the advantages of house and land packages.

House and land packages

There are typically two main modes of buying house and land packages:

Turnkey house and land packages

Firstly, let us take a loot at turnkey house and land purchase. With a turnkey purchase, you find land and select the type of house from specific predefined designs. After agreeing on the price, you will usually be required to pay a ten per cent (10%) deposit. Moreover, you will have to confirm how and when the property will be constructed, as well as pick the fixtures and fittings. At the completion of the construction, you will receive the property upon payment of the outstanding amount. Moreover, the turnaround period for turnkey house and land packages is relatively quick. This is primarily because the developer would like to get paid as early as possible as they carry ninety per cent (90%) of the cost. It is also important to note that your choices and options are relatively limited due to the fixed pricing.

House and land packages

The second mode of purchase is the house and land package. After you purchase the land, you can decide on the type of structure to be put up. Through a construction contract, you will then be required to pay for certain stages of construction as the building of the house progresses. The house and land purchase model allow buyers to be in complete control of the project.

The advantages of house and land packages

You can choose the best house design

One of the greatest benefits of house and land packages is the ability to customise your home. The majority of home buyers prefer to customise and personalise their space and structure. House and land packages allow the home buyer to do exactly that and have a home tailor-made to meet their needs.

Set costs

Another excellent benefit of house and land packages is that costs are clear from the onset. This is particularly important for buyers whose finance is pre-approved.

Buyers have control

Due to major technological advances, buyers have the freedom and choice to pick what they deem is the best plot of land for their needs. In addition, buyers have the choice to match their block of land to their preferred design. Moreover, buyers can choose to work with a buyer of their liking.

Cheaper

In general terms, a house and land package will work out cheaper as compared to similar properties in the same location.

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Teddy Chibanguza

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