New land packages and new estates in Lara Vic 3212
Know this:
- Lara is the northmost suburb of Geelong and sits on the edge of the green wedge between metropolitan Melbourne and metropolitan Geelong.
- Lara is located 15 kilometres north of the Geelong CBD and 55 kilometres southwest of the Melbourne CBD.
- Be sure to check out other Geelong suburbs: Norlane, Fyansford and Wandana Heights.
New home buyers are attracted to and finding their dream land lot to build the new house in Lara due to affordability and proximity to both Geelong and Melbourne.
The new community that is being created in Lara will have access to a range of existing and to-be-built amenities including a new community centre, retail outlets and medical and allied health facilities.
Lara's excellent location ensures its popularity, therefore it is recommended you get in contact with an agent as soon as possible. And to do that, it's very simple by filling out the form on any of the listings you see on this page.
We aim to make things easier for you to find your new dream home or next investment here at Urban.
If you would like to refine your search, you can do so by using the filter fields located at the top of this page.
Do you require parking? Need extra bedrooms or an extra bathroom? You can filter your search results with these fields.
What is a house and land package?
There are broadly two types of house and land packages: Turnkey and Standard.
A turnkey house and land package is where a developer sells you a piece of land, builds a house and at the end of that process, hands you a key.
You literally turn the key in the door and the home is yours. This process generally has several involved meetings with the developer before construction begins so they can take into account any preferences you have.
Note: while developers will offer some choices - like colour schemes, flooring types, appliances (and prices will reflect those options), turnkey solutions are designed to keep costs to a minimum and as a result there is, broadly speaking, less choice in how you want your new home to be presented.
Standard house and land packages are more involved and at a high level, they involve you purchasing the land like any normal real estate transaction (with or without a mortgage) and then you can build the house at a later date.
This gives you a lot more options in how you want your new home to look and feel - you can customise a lot more - however you, as the buyer, are more involved with the construction and you need to manage more during the life of purchasing.
Financing
Always seek professional advice on securing financing for your property purchase.
Financing for house and land packages can differ depending on the type of package you intend to purchase.
For turnkey house and land packages, the purchase price tends to be fixed and, broadly speaking, the loan you will need to qualify for will generally be a normal home loan - complete with requirements to have a 20% deposit before being subject to LMI.
For standard house and land packages, you will, broadly speaking, deal with two different loans. Firstly, you have to purchase the land and this is where you will, generally speaking, need to have a 20% deposit in order to not be levied with LMI.
Secondly, your financial provider will supply you with a ‘construction loan’ that you draw down on as you pay contractors at different stages of the home’s construction.
This advice is high-level in nature and always consult a mortgage broker or broker at a bank to get tailored advice that best suits your budget.
We aim to make things easier for you to find your new home here at Urban.
Be sure to refine your search in order to find projects that best suit your requirements.
If you register your details on the form provided on any of the listings you see on this page, it will enable us to connect you with an agent or other qualified sales professional sooner.