Turnkey Home vs House & Land Packages
Monday 12 October 2026
If you have been researching new homes in Melbourne, you have probably come across both turnkey homes and house and land packages. On the surface they look similar. Both are new home products, both come from a builder, and both give you a fixed end price. But the way each one works, the decisions you make, the timeline you are looking at and what is included at handover, are quite different. This guide breaks down those differences so you can figure out which option suits your situation before you start making enquiries.
What Is a Turnkey Home?
A turnkey home is a fully completed home that is ready to move into at settlement. Everything is finished before handover, including flooring, window furnishings, landscaping, driveway, fencing and all interior finishes. The name comes from the idea that all you need to do is turn the key and walk in.
With an Eight Homes turnkey home, the property is either complete or already under construction at the time of purchase. The price is fixed, the inclusions are set and there are no further selections or decisions to make. You pay a 10 percent deposit at signing and the balance at settlement.
Turnkey suits buyers who want a fast, certain path to homeownership with minimal involvement in the construction process.
What Is a House and Land Package?
A house and land package combines a specific block of land with a home design, sold together as a single offering. Unlike a turnkey home, it involves purchasing the land and then contracting the builder to construct the home from the ground up.
The process involves two separate contracts, one with the land developer and one with Eight Homes. Throughout the build, the buyer makes selections including facade, colour choices, flooring, cabinetry and inclusions. Finance typically works through a construction loan, which releases funds to the builder in stages as milestones are reached.
House and land suits buyers who want to personalise their home and are comfortable with a longer construction timeline.
Marlow Interior
Amayah Interior
Key Differences Between the Two
The most important difference is personalisation. A house and land package gives the buyer choices throughout the build. A turnkey home has those choices already made, which removes decision-making but also removes the ability to customise.
Timeline is the other key difference. Because a turnkey home is already complete or well underway, the path to moving in is significantly shorter. A house and land package involves a full construction timeline from approval to handover, typically 12 to 18 months from signing the building contract.
At handover, a turnkey home is complete inside and out including all external works. With a house and land package, it is worth checking what is and is not included in the building contract before signing.
Which Is Better for First Home Buyers?
Both options are available to first home buyers and both can be used with the First Home Owner Grant where eligible. For buyers who want simplicity and a faster move-in date, turnkey is often the more straightforward path. For buyers who want to personalise their home and are comfortable with a longer timeline, house and land gives them that involvement.
Which Is Better for Investors?
For investors, turnkey is often the more practical choice. The home is complete and ready to rent from settlement, meaning rental income can begin immediately. Personalisation matters less for an investment property, making the fixed specifications of a turnkey home less of a consideration. A house and land package can also work well for investors, particularly where turnkey stock is not available in a preferred location.
Explore Your Options With Eight Homes
Eight Homes offers both turnkey homes and house and land packages across Melbourne. Browse our turnkey homes or explore our house and land packages to find the right option for your situation, or speak with one of our sales consultants who can walk you through both.
What is a turnkey home?
A turnkey home is a fully completed new home that is ready to move into at settlement. All interior finishes, flooring, window furnishings, landscaping, driveway and fencing are included and completed before handover.
What is the difference between a turnkey home and a house and land package?
A turnkey home is already complete or under construction at the time of purchase, with all selections and finishes fixed. A house and land package involves purchasing land and contracting a builder to construct a home, with the buyer making design and inclusion selections throughout the build.
What is included in a turnkey property?
A turnkey property includes everything needed to move straight in, including flooring, window furnishings, landscaping, driveway, fencing and all interior finishes. Full inclusions are listed on each individual Eight Homes turnkey listing.
Can you make changes to a turnkey home?
Generally not. Because a turnkey home is already built or under construction, the selections and finishes are fixed. The ability to personalise is one of the key differences between a turnkey home and a house and land package.
Is a turnkey home cheaper than a house and land package?
Not necessarily. The price depends on the specific home, location and inclusions. A turnkey home includes all external works as part of the purchase price, which can make the total cost more straightforward to compare.
Which is better for first home buyers, turnkey or house and land?
Both work well for first home buyers depending on their priorities. Turnkey suits buyers who want a faster, simpler path to moving in. House and land suits buyers who want to personalise their home and are comfortable with a longer construction timeline.
Which is better for investors, turnkey or house and land?
Turnkey is often the more practical choice for investors because the home is complete and ready to rent from settlement. House and land can also work well, particularly where turnkey stock is not available in a preferred location or estate.