The term refers to a bundled offering in the real estate market where a newly constructed or soon-to-be-built residential property is sold together with the plot of land it occupies, specifically located in the Truganina suburb. This contrasts with purchasing an existing home or buying land and building separately. An example would be a developer advertising a three-bedroom home on a 400sqm lot in a designated estate in this Melbourne suburb, offered at a fixed price.
These packages offer potential advantages, including streamlined purchasing processes, potentially reduced costs due to economies of scale for developers, and the opportunity to acquire a brand-new home in a developing community. Historically, these options have become popular in areas undergoing significant residential expansion as they provide accessible entry points into the property market. Their appeal often stems from the predictability of costs and the modern design aesthetics of new constructions.
