Rather than buying old fixer-uppers, many millennials are now turning to house and land packages when purchasing their first homes. As we all know, house prices are rising far too high for many first home buyers to afford. With house prices continuously rising the way they are, it can cost the same to buy an older home that needs some work as it can to have a brand-new house built.
So, why would you get a house that you’ll have to put a lot of work into when you could get a modern, low-maintenance home? Go with one of these, and all you need to do is find sections for sale NZ, choose your ideal location, and get started on the building process.
Recently, the government announced that it was supporting some affordable house and land packages in Queenstown, making this usually expensive city a viable option for many first home buyers for the first time. Many of these are located in a subdivision containing 400 lots located near Wānaka. There will also be 55 sections up for sale in the Longview subdivision closer to Lake Hāwea.
Queenstown and Wānaka are still some of the most pricey places to live in NZ; the median house value currently sits at around one million dollars. For many who need to move to the area for work, building a house may be the only option for buying a property in this region.
In other parts of the country, having a new, modern house is certainly an appealing factor that contributes to why millennials are choosing turnkey homes over the traditional fixer-upper option. Of course, for those with impressive DIY skills, a fixer-upper may still be the best option, as there are more ways to add value to that type of home if you have the know-how.