If you have been sitting on the fence thinking when is a good time to buy a new Home and Land Package in Melbourne, its now. Here are some logical reasons why now is really a good time to explore new House and Land Packages in Melbourne growth corridors.
Melbourne New Homes Market Update
The New Homes market was running very hot for about a decade, however things did slow in late 2011 & 2012 which is certainly working to the advantage of first home buyers and people looking to build in general. In all key suburbs surrounding the city of Melbourne and across regional Victoria, market conditions certainly seem to be favoring the buyer as builders compete for sales. Victoria doesn’t benefit from the mining boom directly, unlike other States of Australia like Perth where builders are very busy trying to keep up with demand especially from first home buyers because rental vacancy rates are so low.
Choice of New Home Designs
The new homes market never stands still in terms of the product innovation new home builders are offering. In this highly competitive Melbourne market, home builders are competing fiercely on a number levels to sell their house and land packages, but one very important level is “Product”.
“Product” refers to the general appeal of the homes on offer, forgetting about everything else like promotions etc. In a competitive market its the buyer who builders must listen too and please and right now many Melbourne Builders have stepped it up a gear with the “product” they put in the market. New Home Builders realize its imperative to offer designs that simply wow buyers and inspire consumers to purchase. Price is important in any market, but people especially females fall in love with things or aspects to a home that they just cant live without. If you’re the builder that has come up with that little “gem” then your looking good. What this means for the home buyer is choice like never before, with builders trying new things to get that point of difference. It comes down to builders really listening to what consumers want and delivering on those requests.
Choice in Land for Sale across Land Estates in Melbourne
When a market is booming land developers struggle to keep up with demand. Melbourne Land sales numbers have now settled back to more realistic monthly volumes. A slow down in sales means there is a greater amount of choice for buyers. Choice in terms of number of estates which have recently been developed and then blocks of land within those estates. A few years back blocks of land were so popular people were having to camp out at night, now you are able to walk into most land sales offices around Melbourne outer suburbs and pick the perfect block of land that going to suit you and your families needs and wants or wait a short time for it to become available.
Cheap Packages & Value from Promotions
With a slower new homes and land market, Melbourne home builders and land developers are not pulling any punches when it comes to trying to drive customers into their doors to buy. The winner here is YOU the buyer. Some of the promotions currently available are very innovative and can assist a first home buyer to get started. If you you have a fixed budget and need a cheap house and land package their are good options currently available.
Speed of Construction
In very buoyant markets, building a home can come with long and sometimes unexpected waits for a variety of reasons. In many cases right now land is title released and ready to build on, unlike other times when you buy land and then have to wait 6 to 12 months for the land titles to be released. Now you can buy and start building basically straight away once permits are issued. Because builders are not as busy they have great access to available tradespeople and the materials are in strong supply, so no waiting for that popular brick color that everyone wants. At the end of the day if your home can be built more quickly, it also saves you money as you are not paying rent or interest on a home you are not even living in. Many people forget to factor this into a purchase decisions overall value equation, but speed of construction is most important.
Quality of the Build
Its unfortunate but in a booming market a homes quality of construction can be compromised if trades people are being pulled every which way and rushed. In a more normal market like we are currently experiencing in Melbourne, builders really understand the importance of word of mouth advertising, and the best way to get this is to hand over a fantastic quality home. In this case the builder wins as does the proud new home owner.