Frequently Asked Questions

Yes, purchasing a house and land package can often be more economical. One of the key benefits is that you only pay stamp duty on the land portion, not on the construction costs. This can result in significant savings compared to buying an established home or purchasing land separately and then building. 

• 5% of the total cost for a home you intend to live in. 

• 10% of the total cost for an investment property. 

• Reduced Stamp Duty: You only pay stamp duty on the land portion, not the construction costs. 

• Customization Options: Working with NK Developments allows you to choose from various floor plans, materials, and colour schemes to suit your preferences. 

• Streamlined Process: A house and land package simplifies the process of buying and building your new home. 

• Land Purchase Contract: For buying the land. 

• Construction Contract: For building your home. 

At NK Developments, we simplify the process for you:

1. Initial Deposits: A small deposit is required for the land and another for the construction. 

2. Financial Approval: Both contracts are submitted to your broker or lender for financial approval. 

3. Settlement and Construction: Once finance is approved, the land settlement occurs, and the construction of your new home begins. 

The term “turnkey” refers to a property that is ready to be moved into upon completion. While it implies that the home is liveable, it doesn’t always mean it’s fully ready for rental purposes. Additional features like appliances and window treatments might not be included unless explicitly stated. 

At NK Developments, we strive to ensure that all necessary details are managed so you can enjoy your new home without any surprises.