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House and Land Packages vs New Turnkey Home Packages

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turnkey homes vs house and land packages

Not all new house and land packages are created equal. There are two main types: turnkey home packages and standard house and land packages.

Both types are newly constructed homes, usually within in a new residential housing development. However, a turnkey package is ready for immediate move-in with no need for further customization.

A traditional house & land package allows for more customization options. A turnkey package offers a fixed price contract and eliminates the stress of choosing a builder and selecting details.

In addition, financing for turnkey packages is arranged differently, with a fixed price and the developer managing the construction process. Turnkey home packages don’t have extra charges for under quoting or construction delays, unlike traditional house & land packages. However, buyers should still take necessary steps to ensure their satisfaction with the final product.

Traditional House & Land Package Versus Turnkey Package Overview

Traditional House and Land Packages:

Whether you’re a seasoned home buyer looking to invest in property or a novice building your first home, buying a house is an exciting prospect.

House & land packages offer a streamlined process for buyers, with fixed costs and a clear timeline for construction. It’s an excellent option for those looking for investment properties or seeking to customize their own homes to their liking. Here’s a brief outline of the process for a typical home buyer.

  • A custom house and land package typically involves buying vacant land and then choosing a builder to construct a new home on it.
  • The buyer usually has a say in the home design and customization of the house, including choosing the floor plan, finishes, and fixtures.
  • The buyer is responsible for organizing buying a block of land, and financing the construction process.
  • Construction can take several months or even years, depending on the complexity of the design and any delays or setbacks that may occur with either the developer and/or builder.

New Turnkey Homes:

  • A new turnkey property is a complete, move-in ready home that has been fully constructed by the builder. These are often marketed as Turnkey house & land packages.
  • The buyer typically has less customization options than with a traditional house & land package, as the home is already built and finished. If not, it is usually at least well under construction.
  • For our available Turnkey homes, the overall design of the home is fixed and cannot be changed, although some finishes such as colors, floor coverings, etc can be.
  • The price of a turnkey home is usually all-inclusive, meaning that the buyer doesn’t have to worry about any additional costs or fees, such as landscaping, window coverings, and/or connecting utilities.

Here are some additional considerations when building a new home and land package from scratch versus a new turnkey fixed price home package:

Lower Fixed Price Costs:

Stamp duty is definitely less than that of an established home purchase. Both package types also qualify for First Home Buyers Grants, so long as you are eligible.

House & land packages tend to cost more, as the buyer is responsible for financing both the land purchase and construction. Turnkey homes usually have a lower upfront cost, as the buyer only needs to finance the purchase of the home.

Construction & Move-In Timeline Differences:

Traditional house and land packages can take longer to complete, as the construction process is often more complex.

Buying a turnkey house and land package means being move-in ready within a matter of weeks or months, depending on how far along the construction is. Then, upon completion, you just turn the key and move in!

Customization:

House and land packages offer more customization options, as the buyer has a say in the design of the home. Turnkey homes have less customization, as the home is most often already built and finished (or at least at lockup stage).

Property Maintenance:

Like all real estate, both new home package types will require ongoing maintenance and upkeep. Obviously new homes usually require little, if any maintenance and are covered by a new home builders warranty.

Overall Resale Value:

When considering purchasing a home, it’s important to think about the potential resale value. With a house and land package, the resale value of the property is often tied to the location and quality of the land, as well as the uniqueness of the home design and quality of construction.

For turnkey homes, factors such as age, condition, location, and housing market conditions all come into play. However, the similarity of other homes built by the same builder or property developer in the area may also impact resale values.

Understanding these factors can help buyers make informed decisions when it comes to investing in their dream home.

Hopefully this guide helps you to better understand the key differences between house and land packages and new turnkey homes in Hervey Bay, Queensland.

Turnkey homes in Hervey Bay tend to get snapped up very quickly, so to avoid disappointment contact our Turnkey Homes specialist Brian Thompson if you have any additional questions or would like to secure one of our Current or Upcoming Turnkey Homes for sale. Be sure to also ask about our $1000 Bunnings Buyer Bonus (t&c’s apply)

Frequently Asked Questions

What’s the difference between turnkey home and house & land package?

happy family sitting on couch in new home

There are two main types of new homes package builds available: the turnkey package and the standard house and land package. Both options belong to new build developments, presenting brand new homes to prospective buyers. However, the key distinction lies in the turnkey package being ‘move-in-ready’ meaning that you simply ‘turn the key’ and move straight into your new home.

Read more of our New Turnkey Homes Posts

Turnkey Homes Hervey Bay

Hooray Turnkey House and Land Packages Hervey Bay Are Back!

Hervey Bay Property Prices

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