So, you’re looking to invest in a property in Melbourne this year and you’re currently searching for homes for sale. The city offers a highly competitive real estate industry; you can find many available houses and apartments. But, before you decide on a property to invest in, it’s wise that you look at other options first.
House and land packages, for instance, could be something you’re missing out. While this option is often overlooked by property buyers, it is sometimes more practical than getting an old property. Below, Modeina explains why:
Savings on Stamp Duty
Buying an established house requires paying stamp duty on both the land and the property. However, when you go for a house and land package, you will only have to pay stamp duty on the value f the land component. This is because the house is yet to be built.
Flexibility in Choice of Communities
Most packages are designed to appeal to a particular group of customers. This means you can make a decision based on your living preferences or that of your tenants (should you plan to put it up for rent). For instance, you can find a house and land packages near Taylors Hill golfing estate or maybe one in a retirement village in surrounding areas such as Burnside.
Freedom in Terms of Property Design
With these packages, you can decide on the design and theme of your property. This decision would largely depend on your investment goals and budget, of course. There’s nothing to fret, though. Developers will help you on this matter. They will help you decide on everything, from the location to the structural design of your house.
With a new home, you can claim tax deductions for depreciable assets like the costs of property’s construction, fixtures, and fittings. Tax situations differ from person to person, so it’s wise to consult with a certified accountant to learn more about taxes.
A newly built home can attract more tenants than an old, poorly maintained property. With a house and land package, you can make the most out of your new investment property.