Is it good to rely on Housing packages?

Buying a house is a dream for many and a housing package can be a good option when you are looking to buy a home. Many people prefer to go for a house and land package while investing in a home, but you can never be too careful. You should do well to go through the pros and cons of housing packages before you sign the deal.

Here are a few factors that can help you determine if a housing package or housing scheme is the deal for you. 

Any hidden costs

A house may look very beautiful and the idea of buying it may sound very exciting, but you need to be wary of the hidden costs that arise after you sign the agreement. Landscaping is one such cost that may not be mentioned but might be charged. To avoid this, always ask your estate agency or building for a detailed breakdown of all the costs. 

Blow out costs

Sometimes there are provisions for altering the home’s design and it is a great way to customise your living space, but remember that these can raise the costs by a huge amount. 

Transportation and location of the house

Housing packages are generally offered for properties located on the outskirts of the urban areas. If you don’t have proper private transport, commuting to work or wherever, it may be a problem for you. There are other factors such as medical emergencies and educational requirements that may need you to go to the city centre often. So judge the location of the house properly.

Advantages of housing packages 

Very less maintenance costs

Housing packages are mostly offered for brand new properties and thus if you buy a new property, there will be very few maintenance costs as the place is still practically new. Maintenance costs take up a lot of the budget for older properties and in many cases, investors even lose tenants due to problems with older property maintenance issues. 

Stamp duty savings

If you opt for a house and land package where you are just buying the land, the stamp duty will be paid on just the laid and not on the house that you will eventually build on it. If you can compare stamp duty costs for pre-existing homes with land packages, you will notice the staggering difference in cost. 


There are many aspects of a housing package that you can alter to meet your needs. If you need to save on stamp duty, you can buy only the land after which you have to start building the home within a stipulated period. You can even customise the design of your new home according to your preference. If you invest a significant sum after property and design it to a better condition than it was before, you can also use the property to earn high rent by renting it out.  

It is always wise to conduct thorough research before signing the final deal whatsoever. In the case of housing packages, even more so because you need to study every clause written in the agreement so that you won’t be surprised by any sudden development after you pay the first deposit. It is best if you speak with a home loan expert in the initial stages to be sure and aware of everything. Also, if you can get a home loan pre-approval, it will be beneficial to you because you will know exactly what costs you can accommodate in your budget for the housing package.