New Mernda land for sale
Here are a few things you should know about Mernda:
- Mernda is superbly located on the northern edge of Melbourne, approximately 27 kilometres from the Melbourne CBD.
- Access to central Melbourne and other employment precincts is made easy with the recently completed Mernda Railway Line extension.
- Be sure to check out neighbouring suburbs for more land or house and land package buying opportunities.
- These include South Morang, Mill Park, Epping and Wollert.
Mernda sits at the edge of metropolitan Melbourne's northern boundary and is contained within the city's urban growth boundary.
With the urban growth boundary containing the suburb's growth, residents are treated to captivating views over a rural and bush setting.
There are several estates under active development including the Mernda Rise Estate and buyers should cast their net wide to find a package or block of land that suits their individual needs.
The best way to discuss individual needs is to register your interest using the form you see on any of the listings on this page. Doing so will ensure we put you in contact with qualified sales professionals sooner.
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.