New House and Land Packages: The Good, the Bad, and the Ugly

Are house and land packages a smart choice for first-time buyers,
or could they bring about potential issues in your journey, well
beyond buying your first home?


In this episode, we take a closer look at new builds, breaking
down the risks and rewards tied to house and land packages. Many
first-time home buyers are intrigued by the idea of owning a
never-lived-in property, but it's crucial to weigh the possible
downsides.


Understanding that some first-time home buyers might still be
considering this option, we present the facts to help you make
informed choices. Our aim is to guide you towards minimising
risks and maximising the benefits associated with new builds.


If you find yourself at the crossroads of real estate decisions
or are already thinking about a new build, tune in now. Gain
practical insights that will assist you in simplifying the
complicated process of buying your first home, ensuring you can
make well-informed decisions for your homeownership journey!


Episode Highlights:


00:00 - Introduction


02:22 - Meighan’s special house of the week


04:01 - There are a few pros with new house and land packages


07:44 - Risk #1: Oversupply of land in some locations


11:14 - Risk #2: The consequences of extensive land clearing in
housing developments


13:20 - Risk #3: Lack of infrastructure


13:53 - Risk #4: Poor build quality


15:20 - Risk #5: Buying brand new means someone else is making
the profit, not you


18:01 - Risk #6: How grants really work with buying brand new


20:25 - Risk #7: The possibility of negative equity for new
suburban home buyers


22:34 - Tip #1 for reducing the risks: Buy in infill sites, not
on the edge of the suburbia


24:37 - Tip #2: Having a good advisor who’s an expert in their
field


26:54 - Tip #3: Do NOT go with the people that the developer
recommends


27:44 - Tip #4: Allow for a lot longer and more money than
expected for the build


Resources mentioned in this episode:


Which is the best house to buy when they all look the same?
https://homebuyeracademy.com.au/ACTION/best-house-to-buy

Your First Home Buyer Guide Podcast Episode #119: Insider
Secrets for Successfully Building a Home From Scratch
https://homebuyeracademy.com.au/podcasts/119

Learn how to buy property without making a mistake with our
10-step online course for first time home buyers
https://homebuyeracademy.com.au/YFHBG



Resources:



FREE TRAINING: How to make an educated
decision so you buy your first home with the right amount of
debt https://homebuyeracademy.com.au/webinar

Visit our website https://www.homebuyeracademy.com.au/

If you have any questions or would like to be featured on our
show, contact us at: Your First Home Buyer Guide Podcast
support@homebuyeracademy.com.au

Looking for a Sydney Buyers Agent?
https://www.gooddeeds.com.au

Work with Veronica: https://www.veronicamorgan.com.au

Looking for a Brisbane Buyers Agent?
https://www.propertypursuit.com.au/

Work with Meighan: https://www.linkedin.com/in/meighanwells/



If you enjoyed today’s podcast, don’t forget to subscribe, rate,
and share the show! There’s more to come, so we hope to have you
along with us on this journey!


Subscribe on YouTube:
https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast

Subscribe on Apple Podcasts:
https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825

Subscribe on Spotify:
https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f



See omnystudio.com/listener for privacy information.