When you buy a house and land package you are buying the land from the developer and you sign a construction contract with a builder to complete your home.
When you buy the land, you have to pay for it upfront and will have to pay stamp duty on the land. However this will be the only time you will need to pay stamp duty. During construction of your property you will have to make progress payments to your builder of choice and these can be financed through several ways.
Things you need to know about buying a house and land package:
House and land packages give you more say in the final product - builders will construct your home based on your ideal property layout and features.
Stamp duty is only applicable on the land.
You can often save lots of money by ‘acting as the developer’ and paying to complete the construction of the property rather than agreeing on a price for a delivered final product.
