The term “House and Land Package” and “Turn-Key” is one that we often hear builders using, and it’s taken for granted that we understand what it is, however it can mean different things to different builders. So what does it actually mean with Lansell Homes? In a nutshell, Lansell Homes is a land developer. We purchase land, subdivide the land and choose a house plan to fit perfectly on the block. We build the house with everything included from the letterbox to the clothesline and everything in between. You truly do move in with nothing to do, hence the term turnkey. Read More About Turnkey
How much is stamp duty on a house and land package?
Stamp duty is only paid on the value of the vacant land, and not on the value of the home to be built.
First home buyers and pensioners who have not claimed their one-off stamp duty concession will usually pay zero fees.
What is the difference between a house and land package and a spec home?
There is no difference to the final home. Everything is included as per a house and land package however with a spec home, everything has already been chosen. The idea of a spec home is for Lansell Homes to build the home and then sell it completed, however, our homes usually get snapped up well before completion.
With a spec home, changes are not always possible as it depends on what stage the build is at and what supplies have already been ordered.
Payment-wise, it is completely different. There is only one contract between our solicitor and yours as you are purchasing a completed home. Much like when buying any existing home, you pay for it in full on settlement, including stamp duty on the entire amount.
You’ll learn a whole new language of construction-related terms during your new home build journey. We have put together this cheat sheet of the topmost typical building terms you can expect to come across.
An easement is a legal right to cross or otherwise use a portion of someone else’s property.
A council will decide to allow others to cross or use your land if it serves the common good. For example, an easement could be necessary to give other properties access to vital services such as water, electricity, or sewerage.