When purchasing a property, it is crucial to consider the benefits of house and land packages. These properties offer attractive features such as increased deductible tax benefits and stamp duty savings in many cases. Newly built homes in good locations also benefit from being attractive to tenants and attracting higher calibre residents.
It may be an excellent time to think of purchasing house and land packages in Schofields. Investment properties in Schofields fare well against other locations in the country. Currently, the average price has increased by over 40%. On average, 16.08% of real estate transactions take place per month in Schofields.
Savings on stamp duty
You can save a lot in house and land packages in Schofields with stamp duty. If your property is priced at $450,000, expect to save around $8000 in stamp duties. The reason is you are building a new house, and you’re only paying for the stamp duty on the land value and not the house since the structure hasn’t been built yet.
Choose the best block and design
When you purchase a property, it is recommended you choose the best block and customize the house to make it attractive and suitable to your needs. A well-designed property is also appealing to tenants. Everything should suit your investment, budget, and goals.
Newly built homes attract better tenants
As a landlord, you want to attract high-calibre tenants to your property. Newly built homes have the advantage of attracting tenants via modern conveniences. It offers tenants a place they will love and want to live in for many years. Newly built homes also have the additional benefit of charging higher rent, so you gain higher returns for your investment.
Schofields is one of the best locations to build a property in Australia. Schofield neighbourhoods are great, and the suburbs are clean and well-maintained. Commercial establishments and businesses are only a 5-minute drive away. Shopping centres, stations, playgrounds, as well as reputable schools surround the area.
Differentiation and tax benefits
Depreciation is significant in a new home and has plenty of benefits. It should never be overlooked. You can claim tax deductions for depreciable assets such as the building itself in a newly built home. You can also ask for deductions on fixtures and fittings. To give you an estimate, a new home that costs $250,000 and fitted with $30,000 worth of fixtures can yield deductions up to $16,000 per year.
Finally, another incredible benefit of pre-built homes is they require little to zero maintenance. Frequently the buildings, fixings, and fittings are covered by a guarantee. It is significant when you consider that one of the main costs of investing in a property is maintenance and upkeep. A new home will require lower costs and maintenance while retaining its value for longer. Plus, reputable builders utilize higher quality materials and apply better construction methods. It results in well-built and incredibly efficient homes.
Consider the option of buying a house and land package in Schofields if you want to live in Australia. Schofields is a suburban area on the fringes of Sydney’s urban sprawls. It is located in the state of New South Wales. Schofields area is located 45 km northwest of the city central business district near the Blacktown area.