Disclaimer:
The information on this website is for general guidance only and does not constitute financial or investment advice. Always do your own research and seek personalised advice from a qualified financial adviser or mortgage adviser before making financial decisions. All investments carry risk and past performance is not indicative of future results.
Key Takeaways
- House and land packages involve staged build payments.
- Turnkey packages are fixed price with payment at completion.
- House and land offers more customisation and location choice.
- Turnkey offers convenience and fewer surprises.
- Compare costs, timelines, and risk before choosing.
When you're on the journey to buying your first home, understanding the different types of building packages available can make a big difference in making the right choice. Two common options you'll come across are House & Land packages, and Turnkey packages. Let's explore these options to help you make an informed decision.
House and Land Packages
What Are They?
House and Land packages involve buying a block of land and then building a home on it. These packages are typically offered by developers who have land available and work with builders to provide a range of house designs.
How Do They Work?
- Choose the Land: You start by selecting a block of land from the available plots in a development.
- Select a Home Design: You then choose a house design that suits your needs and budget. Builders usually offer a variety of designs, from standard layouts to customizable options.
- Construction Phase: Once the design is finalized, the construction begins. You'll have a contract with the builder and pay for the construction in stages as the building progresses.
Pros of House & Land Packages:
- Customization: You have the flexibility to choose your preferred design and make modifications to suit your taste.
- Location Choice: You can select a specific plot within a development, giving you some control over the location of your home.
Turnkey Packages
What Are They?
Turnkey packages offer a more straightforward path to homeownership. These homes are built under a fixed price contract, where you pay a deposit and then wait several months for the construction to be completed. Once finished, you pay the balance and receive the keys, ready to move in.
How Do They Work?
- Sign a Fixed Price Contract: You enter into a contract with the developer at a fixed price, which includes the cost of the land and the house.
- Pay a Deposit: Typically, you pay a deposit upfront to secure the package.
- Construction Phase: The developer takes care of the entire building process. You don't need to manage the construction or make progress payments.
- Settlement and Move-In: Once the house is complete, you pay the remaining balance at settlement, receive the keys, and move in immediately.
Pros of Turnkey Packages:
- Convenience: The home is fully finished, including landscaping, driveways, and often appliances. There's nothing left for you to do but move in.
- Fixed Price: The price is set from the beginning, so there are no unexpected costs or surprises.
- No Mortgage Payments During Construction: Buyers do not need to pay the mortgage until settlement, easing financial pressure during the construction period.
Learn More: New Builds in New Zealand: Construction Loan vs Turnkey
| Feature | House & Land | Turnkey |
|---|---|---|
| Customization | High flexibility | Limited options |
| Payments | Progress payments during build | Deposit + final payment only |
| Price Certainty | May have variations | Fixed price contract |
| Involvement | More hands-on | Hassle-free |
| Mortgage During Build | Usually required | Not required until settlement |
Legendary Homes Turnkey Packages
Legendary Homes specializes in Turnkey packages designed to provide you with a hassle-free path to homeownership. Their detached homes in Karaka, Pukekohe and Huapai are perfect for first home buyers who value convenience and quality. Starting from $750k, these homes are built to the highest standards.
Why Choose Legendary Homes?
- Prime Locations: Karaka, Pukekohe and Huapai are vibrant, growing communities with excellent amenities, schools, and transport links.
- Guaranteed Construction Timeline: Guaranteed to finish construction within 6 months from Building Consent issue date.
- Quality Assurance: Every home meets strict quality standards.
- Fixed Pricing: No hidden costs or unexpected expenses.
- Financial Ease: No mortgage payments until settlement.
In conclusion, whether you choose a House and Land package or a Turnkey package depends on your needs, timeline, and budget. If you're looking for a ready-to-move-in home in a thriving community, Turnkey packages might be the perfect fit for you. Learn more about how to secure a new build with a 5% deposit.
Contact Legendary Homes
Visit Legendary Homes today to explore your options and take the first step towards owning your dream home.
Contact Details:
- April Zhou
- Mobile: 021 977 363
- Email: sales@legendaryhomes.co.nz
Frequently Asked Questions
Related Articles
A First Home Buyer's Guide to Real Estate Terms and Sale Methods in New Zealand
Essential guide to understanding real estate terms, sale methods, and property jargon for first-home buyers in New Zealand. Learn about auctions, deadline sales, and more.
Buying a Monolithic or Plaster Home in New Zealand: What First Home Buyers Should Know
Essential guide for first-home buyers considering monolithic or plaster homes in New Zealand. Learn about weathertightness, inspections, insurance, and legal protections.
How to Secure a New Build with a 5% Deposit
Learn how first-home buyers can secure a new build in Auckland with just 5% deposit using the First Home Loan scheme and KiwiSaver.
How to Supercharge Your First Home Deposit in New Zealand
Learn proven strategies to accelerate your savings and reach your deposit goal faster with KiwiSaver and smart saving techniques.
