When you explore investing in a brand new property you’ll begin to see how a lot of builders, developers and land owners work together to develop a vacant block of land into an estate.
It’s very common for house and land packages to have a contract for the land and then a contract for the building of the house, particularly if you buy early in the development phase. This is the most common method: 2 contract house and land package
A single contract for a new house and land package usually means that the builder has completed the build of the house on a new block of land and they are able to sell it all in one contract.
There are plenty of reasons this happens and one of them is when they build a number of houses in the same area when enough new house sales have been made to warrant it. That’s the case with investment properties you can find in Farley, Rutherford, Gillieston Heights, Bellbird and Cessnock.
As a property investor the great news is that you don’t have to wait for the house to be built and you can start renting it out immediately.
New Investment property in Hunter Wine Region
Regional areas like Cessnock offer a low cost entry into an investment property and it’s connected with the growing Newcastle Hunter region.
Here are some details about this investment property example:
- Located in the Vines Estate in the Cessnock area.
- This property offers a 205.2sq.m home
- Single contract package price of $485,000 (this value will grow in time)
- 638.3sq.m land size
Not only is this a great offer but for all the investors this area has a low vacancy rate of only 2% with a rental income of an estimated $450 a week and the rental population for this area is approximately 35%.
This property is expected to return 4.8% gross return. Good for a brand new house with land.
Superannuation Funds
If you are investing through a super fund you will have little choice but to enter into a single contract house and land purchase.
Learn more about 2 contract house and land packages
Learn about house and land packages in the Central Coast, Lake Macquarie, Newcastle and Hunter Regions.