Why rent when you can buy? A new home is still an affordable reality at Olivia in Truganina.
If you’re currently renting and wondering how to enter the Melbourne property market, then consider a house and land package at Olivia in Truganina.
Especially for first home buyers, the opportunity to buy a beautiful modern home in a thriving community, which is only 28kms from Melbourne’s CBD, is an affordable reality.
Why continue renting if buying your own brand-new home is possible? And there are many lifestyle benefits to living in Truganina. Not only are there schools, shopping centres and public transport options nearby today, there are several proposed new amenities developing over the next few years, such as a train station, Westfield Shopping Centre and a large business park that will bring more than 19,000 jobs to the community.
The disadvantages of renting:
It’s not an investment – paying rent is a set amount of money leaving your bank account every month going toward paying off someone else’s mortgage.
Renting can be more expensive – the cost of renting steadily increases over the years due to inflation and property prices increasing. However, mortgage repayments reduce over the life of the loan as the principal is paid off and interest reduces.
Building maintenance is up to the landlord – if maintenance work is needed to your property, you’re in the hands of the landlord or property manager to get things done which can be frustrating.
Less flexibility in making it your own personal space – your home is your sanctuary with your personal touch. Not so easy to this sense in a rental property.
No long-term certainty – you may want to settle down for the long-term, but this is not assured when you’re renting. Your time in this home is largely dictated by the landlord who might sell or develop the property.
But what to do about a deposit?
Saving for a deposit is often the biggest roadblock to owning your own property. Sure, you might have more cash to spend for a better lifestyle today by not having to put money away for a deposit. But you’ll have more money in home equity down the track once you’re in the property market.
Even though Melbourne property prices are high, you can still get into the property market in places like Olivia at Truganina. The Deakin Business School recommends that younger people look for growing markets to buy property. Likewise, for investors who are looking to add to their property portfolio in regions showing promising growth such as Truganina.
There are first home buyer schemes and low deposit home loans available today making it much easier to enter the property market in Melbourne.
Have a look at this Canstar video on 10 Ways to Help Save for a House Deposit.
Why choose Olivia at Truganina – lifestyle benefits:
Work opportunities – Melbourne Business Park is a planned $2 billion business park that will deliver 19,000 jobs by 2040 and is only a five-minute drive to Olivia.
Shopping – Caroline Springs is a ten-minute drive away and a Westfield Shopping Centre is proposed for Mount Atkinson which is a three-minute drive from Olivia. The future Rockbank Town Centre which will be a 35,000 square metre indoor shopping centre with specialty shops, supermarkets and cafés is also proposes and only a 5-minute drive from Olivia.
Schools – There are many existing schools in the region but there are also three new schools planned moments away in Mount Atkinson, with two falling under the Edmund Rice banner. And, a state primary school is planned for Grandview which will be located on Caulonia Drive in Olivia, you can easily walk the kids to school. (View our aerial photo on our home page).
Community – The variety of cafes, pubs and restaurants, wineries and golf clubs will get you connected to your local community. There are also sports and recreation centres, medical centres, an aquatic centre, libraries and other community centres.
Buy a house and land package at Olivia and pay less than your rent per month.
You can purchase a house and land package at Olivia in Truganina from $379,500 for a 2-bedroom, 2-bathroom townhome.
With a 5% deposit and the low interest rates we have today, weekly mortgage repayments could be around $350 which is less than Melbourne’s average rental price of $420 per week. Contact us to find out about property at Olivia in Truganina and to discuss upcoming exclusive releases.
Seek independent advice.
This information is intended to be general in nature. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, we recommend that you consider whether it is appropriate for you. We recommend that you seek your own independent legal, financial, and taxation advice.