$35K+ worth of reasons to start building your dream home at Olivia in 2020
Planning to build a new home is an exciting time. It’s more than simply building a home to live, it’s about creating a lifestyle and a sense of place. Home is where we settle to restore and rebalance, where the family is nurtured and raised, and where we share a part of ourselves with friends and family.
The journey of building a home can be stressful if you don’t give yourself enough time. That’s why we’re encouraging you to start planning now. Creating the home you desire, regardless of your budget, can be an enjoyable process when you’ve given yourself time and space to plan.
Building a home is a 4-5 month process, so starting your home build plans sooner rather than later means you could be living at Olivia before the end of this year.
There are many good reasons to start building your dream home at Olivia in Truganina today. Here are six of them, starting with the most recent exciting announcement of the HomeBuilder Grant.
1. $25,000 HomeBuilder Grant
The Government has just announced the HomeBuilder Grant, as part of their Economic Response to the Coronavirus. HomeBuilder provides owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or renovate an existing home. To be eligible, the contract needs to be signed between 4 June 2020 and 31 December 2020 and construction must commence within three months of the contract date.
You can find out more on the Government’s Fact Sheet and Frequently Asked Questions. We will provide you with updates via email and Facebook, as they become available.
2. $10K First Home Buyers Grant
If you’re buying or building your first home in Melbourne valued up to $750,000, you may be eligible for a First Home Owner Grant (FHOG) of $10,000. The home must be less than five years old to be eligible for the FHOG.
3. The First Home Loan Deposit Scheme
The First Home Loan Deposit Scheme (FHLDS) is a government initiative that helps people buy their first home. A deposit of 20% is normally required for a new home. If you have a smaller deposit, you often need to pay Lender’s Mortgage Insurance which can amount to thousands of dollars.
With the FHLDS, you can buy a home with as little as 5% deposit and no LMI, saving you potentially over $10,000 depending on your mortgage amount. As of July 1, 2020, another 10,000 places will be available. They get snapped up quickly so we’d recommend you look into this sooner rather than later.
4. Olivia construction is full steam ahead
Olivia construction is full steam ahead with both Stages 1 and 2 due to title in the coming weeks, and 20 new lots being launched in our Ionica Release on June 27.
5. Land valuations are healthy
With all kinds of predictions and market speculation occurring at the moment with COVID-19, property land valuations at Olivia are still on the increase, with healthy returns for investors who bought land two years ago. Our customers are getting positive bank valuations and confidence is high.
6. Take advantage of very low interest rates
Australia hasn’t seen interest rates this low since November 2012. And we don’t know when we will see them again. The opportunity to borrow money to build your dream home means more money in your pocket and toward your build instead of interest rates. Not only that, but you will also be able to pay off your mortgage sooner.
With the HomeBuilder Grant, the First Home Buyers Grant, and the First Home Loan Deposit Scheme, that’s $35K+ reasons to start building your home and $35K+ toward an investment in your future!
Are you ready to settle? Call the Olivia team to arrange your valuation.
Stage 1 titles are expected at the end of July, and construction on Stage 2 is almost complete with titles expected mid-August.
If you haven’t done so already, we can help you have your land valued and organise your finance. Valuations are available Fridays from 2-3pm from 19 June to 17 July 2020. Your valuer can arrange the valuation through our Estate Manager, Christian Taverna, on 0422 871 939 to book their place.
For help with financing, we have Anna and Tom who are here to help you. Anna is a Mortgage Broker at Oakbury Financial Group and specialises in First Home Buyers, Land, and Construction Finance. You can reach her at 0431 073 350.
Tom is a Mobile Home Lending Executive at Commonwealth Bank and you can get in touch with him at 0436 916 258.
If you have any other questions, please contact our Estate Manager Christian on 0422 871 939 or [email protected]