First-time buyers often want to purchase house and land packages as a first home or investment. However, as the attached video shows, many property pitfalls can lead to financial ruin. When entering the house and land package market, a property expert must guide the buyer.
A quality realtor can help the buyer in multiple areas.
When a contract is poorly understood, it won’t benefit the buyer. The contract stipulations include agreements, but omitted information can seriously influence the quality of what the buyer pays for. Signing only fixed-price contracts is essential, as the buyer knows exactly what they will get with no additional or hidden costs.
The best property to invest in is a fully turn-key property that’s move-in ready. Extras like fixtures, landscaping, driveways, and fencing can add massive unexpected costs. A turn-key property requires no further work and is complete per the contract.
Paying more than the market value for a property results in massive financial loss and a negative return on the buyer’s investment. Disreputable property developers can abuse a buyer’s ignorance, so it is essential to have an experienced realtor or property expert guide them.
If you keep the above tips in mind, buying house and land packages can be a highly lucrative endeavor. Be sure to work with a realtor you can trust every step of the way.
