First Home Buyers House and Land Packages in Melbourne

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First Home Buyers House and Land Packages in
Melbourne
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Overview

• As the name suggests, home and land packages
  merge home and land loans into one package to
  give an effective way to get the best property
  that suits your requirements. House and land
  packages for first home buyers in Melbourne
  involve the land and home being sold together.You
  can choose house and land packages at an
  affordable fixed rate and eliminate the surprise
  of additional costs. Home and land packages allow
  clients peace of mind along with cost-effective
  and easy alternatives to managing location and
  construction separately.

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Overview of a House and Land Package in Melbourne

• When buying any of these packages, an individual
  will choose a block of land that may be part of a
  larger tract of land bought by a developer and
  subdivided. After that, they will choose from
  various builders and designs to build the home of
  their choice.
•  They can add various extras, including different
  types of interior fit-outs.

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How do House and Land Packages Work?

• When you buy an existing house, youll take one
  home loan with a mortgage attached. By contrast,
  when you choose a house and land package, youll
  take two loans, generally coming together at a
  fixed rate. One of these will be a loan for the
  land itself, on the other hand, the other will be
  constructed loan that is usually drawn down in
  various stages. The construction stages can vary
  based on your builders but typically include such
  major milestones as when the frame and base of
  the house are complete, the time of handover,
  etc. When first home buyers are paying off their
  construction loan, theyll only pay interest on
  the amount that the bank has paid the builder at
  every stage of construction.

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Advantages of House and Land Packages for First
Home Buyers in Melbourne

• Savings on Stamp Duty
• You may Access First Home Owners Grant
• Chance to Create a House thats Yours
• Your New Home will not Need Renovations and
  Remodelling

Conclusion The blog highlights information that
is required for first-time home buyers who are
searching for house and land packages. For an
affordable fixed-rate package, you can also get
in touch with Star Homeloans.
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Contact Us
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