“Buying Off The Plan” house and land packages are substantially cheaper than buying an established or newly built home.

EXAMPLE 1

Buying off the plan verses buying an established home

House & Land Package

Land Value $130,000
House Value $210,000
Stamp Duty $3,379
Legal Fees $1,000
TOTAL COST $344,397

Total Savings $30,603

Established Home of Same Value

House & Land Value $340,000
Agents commission, advertising, stamp duty, holding and legal fees $35,000
TOTAL COST $375,000

EXAMPLE 2

Buying off the plan cost and savings comparison

House & Land Package

When you Buy Off The Plan house and land package you only incur:
Legal fees on land purchase $1,000
Stamp duty on the land $3,379
TOTAL COSTS $4,379

Total Savings $15,371

Newly Built or Established Home

When a home is newly built the land is acquired incurring:
Legal fees $1,000
Stamp duty on the land $3,379
When the completed house is then sold it incurs:
Legal fees $1,000
Stamp duty on the purchase price – $340,000
$14,371
TOTAL COST $19,750

DISCLAIMER: Examples are indicative only and will vary depending on land and house value. Please seek independent advice based on your personal circumstances.