2021 has been a busy year at Olivia; we have met some exciting milestones and welcomed many new residents to the community.

The Community is Growing Fast!

Stages 3, 13, and 14 titled in May, September, and November respectively, delivering another 175 lots to our residents to build their dream homes! Over 100 families currently call Olivia home and are successfully building a connected community; more families will join them over the next few months with 40 homes currently under construction.

Historical Dry-Stone Wall Rebuild Commenced

In August, the first section of Olivia’s dry-stone wall rebuild was meticulously completed by Paul Middleton of Stockade Stone Build, to retain the original unrefined construction style while increasing the structural integrity in a way that respects the values and significance of the local cultural landscape. The remaining section of the dry-stone wall is expected to be completed within the next 18-24 months.

Stage 3 Feature Park Approved

Mid-year, Melton City Council approved our plans for the Stage 3 feature park! 

For those who love traditional play equipment, there will be a massive tower, an oxygen climber, rockers, seesaws, swings, a carousel, a pedal park, and plenty of kick-about space surrounded by greenery with extensive planting. And for those who are a little more tech-oriented, we have the Yalp interactive equipment! The Yalp Sona and Memo are designed to provide an opportunity for all ages, abilities, and interests to engage and play together. Find out more about this exciting new equipment in our September park blog.

Childcare Centre Approved

A planning permit was issued for the childcare centre proposed within Olivia. The facility will be located at the entrance of Olivia, on the corner of Greigs Road and Panaia Boulevard. Once fully operational at the beginning of 2024, the centre will cater for up to 96 children between the hours of 7am and 6pm Monday to Friday. For more information, check out our childcare centre blog here.  

Sales

2021 saw record sales at Olivia with over 250 new purchasers looking to join the growing Olivia community and create a quality lifestyle for themselves and their families.

2022 Promises to be Another Big Year

Thank you for making all this possible in 2021! As we move into 2022, we have plenty of exciting milestones to look forward to:

• Streetscaping is expected to commence in March in Stages 1, 2, and 11, tidying up nature strips and planting street trees;
• Construction on the Stage 3 1.27-hectare feature park is also due to commence in March;
• Stage 4, 5, and 6 civil works are expected to commence in Q1 with titles expected Q4 2022; and
• Stage 7 civil works are expected to commence in March 2023 with titles expected by October-November 2023.

Start something beautiful at Olivia today

For all enquiries, and to secure the perfect lot for your dream home, please get in touch with our Estate Manager, Christian Taverna on 0422 871 939 or [email protected].

*All statements (including delivery times and prices) are based on information available to the developer at the time of publication and are subject to change without notice or obligation. ^Neighbourhood park to be developed in Stage 9.

We are excited to announce that our next release is coming soon!

Stage 7A releasing in December

There has been an unprecedented demand to secure land at Olivia and there is no sign of this slowing down. We will be releasing new land over the next few months, with the Stage 7A Release coming in the first week of December 2021! 

Perfectly positioned near a future neighbourhood park*, 4.5-hectare sporting ground, and within walking distance to a primary school, Stage 7A offers walkability and easy access to green open space – a haven for active lifestyles!

Featuring 11 highly sought after lots, ranging in size from 294m² to 448m² and prices starting from just $305,000, be quick to secure the perfect lot to build your dream home with only a 5% deposit!

Stage 7 titles are expected to register in late 2023. You can keep up to date with progress on our construction updates page.

Create a quality lifestyle for you and your family at Olivia

Located in the heart of the west, just 28kms from Melbourne’s CBD, Olivia is the perfect place to raise your family, upsize to your dream home, or invest for the future. The development offers numerous lifestyle benefits for residents including over 6.5 hectares of green open space with a state-of-the-art 1.27-hectare feature park; a future childcare centre at the entrance, and a primary school^ along Caulonia Drive, which is all within walking distance in the estate.

Olivia is conveniently located to provide easy access to schools, shopping, transport options, and employment opportunities:

• There are numerous existing early learning centres and primary and secondary schools within close vicinity of Olivia; a selection can be found here. There are also four planned schools within a 5-minute drive of Olivia, including the proposed primary school along Caulonia Drive, adjacent to Stage 2^.
• Two future town centres are a short distance providing all your shopping needs. Rockbank’s future town centre will include a “thriving major shopping centre, spanning approximately 35,000 square metres and consisting of an indoor shopping centre and village style high street.” (3L Alliance, 2016). Mount Atkinson’s future town centre will feature a Westfield shopping centre covering 80,000 square metres^.
• The entrance to the Western Freeway is just a 5-minute drive from Olivia, as well as the recently upgraded Rockbank train station for an easy commute. It is proposed that a  future train station will be developed within 5km to the east of Olivia and is expected to become operational once the number of people in the local community significantly increases.
• There are lots of employment opportunities within a 15-minute commute of Olivia; the future Melbourne Business Park is predicted to deliver 19,000 jobs by 2040; the new Melton Hospital is expected to be operational by 2026-27; Melton Business Park is set to “become a first class industrial park.” (JLL, 2021); Amazon and HelloFresh have already opened facilities nearby, with Myer and Makita joining them in the near future.

Becoming part of the Olivia community means having everything you need right on your doorstep!

Register your interest

To enquire about purchasing in the upcoming release, please register online, get in touch with our Estate Manager, Christian Taverna on 0422 871 939 or [email protected], or visit our sales office from 10am Monday, 29 November 2021and start something beautiful today!

* Neighbourhood park is to be delivered in Stage 9.
^ To be developed by third parties – delivery time frames are outside of Olivia’s control.
All statements (including prices) are based on information available to Olivia at the time of publication and are subject to change without notice or obligation.

Dry-Stone Walling in the Melton Shire

The original dry stone wall within Olivia spanned 126m and formed part of The Greigs Road Dry Stone Wall Precinct; a group of Shire of Melton walls, built circa late 1850s to 1870s. (Planning Collaborative, 2011). The dry stone wall is of heritage significance and forms part of the cultural landscape within the City of Melton. This collection of dry-stone walls are included in the Heritage Overlay (HO204) to the Melton Planning Scheme, recognising their significance to local history and implementing planning controls for walls that should be protected.

The history of the dry stone wall dates back to the 1850s, where two events prompted a major increase in the construction of permanent fencing, including dry stone walls. Firstly, the gold rush created a shortage of labour for shepherding, increasing the need for permanent fencing to contain livestock; secondly, the sale of extensive tracts of Crown land to pastoralists, providing them the incentive to invest in infrastructure.

Characteristics of the Greigs Road Dry-Stone Walls

Local dry-stone walls are built from local sources of stone, constructed through careful placement of rocks without using cement or other binding materials, with each stone handled only once. The field stones from which the walls have been constructed are predominantly round, heavy and medium to large in size, round stones are not ideal for high walls; therefore, most of the Greigs Road walls, including Olivia’s, are low in height and taper in shape having wider bases. Posts and wire were an addition to many of the walls in the precinct to prevent stock wandering.

What was the process for re-building Olivia’s dry-stone wall?

In 2018, Olivia’s archaeologist and heritage consultant, Ecology and Heritage Partners, were engaged to prepare a dry-stone wall assessment and management plan in accordance with the endorsed planning permit.  Extensive photographs were taken in sections along the wall, recording the width, height, and length of sections photographed, detailing the construction style used to build the original wall and the existing condition of the wall. The dry-stone wall was predominantly in its  original condition, however, there was evidence of reconstruction in sections, where concrete and bricks had been added over time to maintain the structural integrity of the wall . The survey also assessed the landmark quality of the wall for its integrity, authenticity and cultural landscape value.

The dismantling and storage of Olivia’s wall was carried out carefully and methodically by professional dry-stone waller, Paul Middleton of Stockade Stone Build, ensuring stones from each section of the wall would remain not only in the original section, but also reflect the general position of the stones within the original wall.

The reconstruction of the wall began in August 2021 and was constructed meticulously by Stockade Stone Build, with the careful placement of each stone in the correct position. Care was taken to retain the original unrefined construction style while increasing the structural integrity in a way that respects the values of the cultural landscape of the City of Melton. The first section of the dry-stone wall is now complete and practical completion has been issued by Melton City Council.  Completion of the balance section of the dry-stone wall is proposed to be completed within the next 18-24 months.

More information on Olivia’s dry-stone wall, designated D1, can be found under Dry Stone Walls Study on the Melton City Council website under “HO204 Greigs Road Precinct – Statement of Significance”.

Stage 7A is releasing soon! Register your interest now, or get in touch with our Estate Manager, Christian Taverna on 0422 871 939 or [email protected] for more information.

Street Tree Planting Expected to Commence March 2022!

In our July construction update we announced that street tree planting at Olivia would commence this Spring. However, due to the current Covid lockdown, the proposed start date has unfortunately been pushed back to March 2022.

Which stages are getting street trees?

Stages 1, 2 and 11 will be the first stages to receive landscaping, including the tidying up of nature strips and planting of street trees. In order to minimise damage to nature strips and street trees, installation of landscaping usually commences once most homes in a stage have been completed.

Which trees will be planted?

Each stage will have a variety of trees that have been approved by Melton City Council. There will be a combination of deciduous and evergreen trees of varying heights to create a streetscape that is not only aesthetically pleasing but will also play an important role in the environmental and social health of our community. The trees selected for Olivia’s main street, Panaia Boulevard, are the Queensland Brush Box and the Spotted Gum. Both species are evergreen and native to Australia. 

Stage 1 and 2 street trees to be planted within nature strips

North / South trees:

• Queensland Brush Box (evergreen) 
• Spotted Gum (evergreen) 
• Chinese Elm (semi deciduous)
• Turkey Oak (deciduous)

East / West trees:

• Honey Locust (deciduous)
• White Cedar (deciduous)
• Chinese Pistachio (deciduous)
• Port Jackson Fig (evergreen)
• Autumn Gold Elm (deciduous)
• Chinese Elm (semi deciduous)
• Turkey Oak (deciduous)

Stage 11 street trees to be planted within nature strips

Sasha Crescent:

• Chinese Pistachio (deciduous)

Dana Drive:

• White Cedar (deciduous)

Who is responsible for maintaining the landscaping?

Once a dwelling is occupied, the resident is responsible for maintaining the nature strip abutting their property. Each street tree will have passive irrigation installed by the developer; passive irrigation captures the stormwater to nourish your street tree. Once nature strips have been completed, all residents will be required to maintain their nature strip and ensure it stays free from weeds and rubbish, as per the estate design guidelines and Council regulations.

To keep up to date with construction progress, including landscaping, visit our construction updates and news and blogs on our website, and follow us on Facebook!

For more information, and to register your interest in Olivia, please get in touch with our friendly sales team on 0422 871 939 or [email protected].

Image credit: David Vig on Unsplash

Olivia’s state-of-the-art inclusive and interactive playground has been approved!

Olivia’s 1.27-hectare feature park has been approved! Construction is expected to commence in March 2022 and anticipated to be open by July 2022. This unique park will be surrounded by greenery with extensive planting, plenty of kick-about areas, seating areas and a shelter. 

What’s really exciting is that it will change the way families play!

The Park will have traditional play equipment as well as state-of-the-art interactive equipment called Smart Technology Play. This new way to play brings together technology, gaming and outdoor equipment to provide an innovative playground which is inclusive of all ages and abilities. The whole family will love it!

For those who love traditional play equipment, there will be a massive tower, an oxygen climber, rockers, seesaws, a variety of swings including the nest swing, a carousel, a bike track (pedal park) and more! And if you’re a little tech-oriented, you’ll be thrilled with the interactive equipment.

Smart Technology Play is:

1. Multi-generational – specifically designed to encourage children, parents and grandparents to actively participate together. 

2. All inclusive – anyone with a disability can access the equipment and play together.

3. Dynamic – the game play experience can be updated and changed to always remain new and exciting. 

We’re proud to say that Olivia is the first community of its kind in Australia to have an interactive playground such as this.

Get ready for Sona and Memo – for hours of endless fun for the whole family!

Olivia will have two interactive playsets in the park by Yalp: Sona and Memo.

These play experiences use technology and sensory engagement which include touch, LED light responses, music and audible instructions, and are centred around physical movement and reaction.

Their purpose is to provide choice for children and families. Every local park has a swing, a slide and a rocker; however, Smart Technology Play complements this traditional play experience, by providing new variety and opportunity.

Sona: The Yalp Sona interactive dance and play arch works intuitively. If you walk under the bow, it will immediately ask you if you want to play a game. Different games can be selected at the touch of a button and several players can play simultaneously in a group.

Memo: The Yalp Memo is a set of seven interactive play pillars which have an educational focus, with a 360° LED touch screen. The Memo has numeracy games to promote children’s mathematical skills, and spelling games which are linked to movement, so children are getting both mental and physical exercise benefits at the same time.

Who can play in this unique interactive park?

EVERYONE! This exceptionally unique technology allows all ages, abilities, and interests to play and engage together. Any age, any gender and any ability. There are no barriers to how these games can be experienced. 

They are wheelchair accessible and provide games that are practical and engaging for children and adults who may have an autism spectrum disorder, a physical disability or even older people experiencing dementia. 

Smart Technology Play offers an open and interactive arena for everyone in the Olivia community to get involved and play together. 

What are the benefits of Smart Technology Play for residents of Olivia?

• Engages the senses – visual, audible and sensory.
• Encourage socialisation, teamwork, communication, problem solving and movement. 
• Encourages social inclusion – it’s designed for all ages, genders and ability and you can play with friends, family and strangers altogether
• Multigenerational – it offers wonderful opportunities for young and old to have some fun together.
• Games are always up to date – we can dynamically change game content at the click of a button. This means that games can be updated, renewed or changed to meet people’s interests.
• Games that residents prefer – we can track play statistics of the equipment and offer only the games that Olivia prefers to play.
• Multifaceted – there are 50+ games that cover agility, speed and reaction such as racing, dance battle or musical chairs, or those, focused on active and energetic learning. For example, maths, geography, language and sustainability among many others.
• You’ll get to meet and interact with more of the neighbourhood at Olivia, not to mention have loads of fun with the entire family – kids, parents and grandparents.

Who is Yalp?

Yalp develops and distributes state-of-the-art, innovative playsets and sports equipment, bringing the best of gaming with playing outside. Lark Industries in Australia is the sole distributor of Yalp who have been working with Olivia to help make this dream park a reality. Their mission is to create inspiring and challenging environments that invite everyone to get active and have fun.

Interested in finding out more?  

Please give us a call if you’d like to find out more about our new interactive playground or to register your interest about living at Olivia. Stage 6 has sold out! Register your interest for our upcoming Stage 7 land release. 

For all enquiries, please get in touch with our Estate Manager, Christian Taverna on 0422 871 939 or email [email protected], and start something beautiful today!

Image credit: Johnny Cohen on Unsplash – child on a swing. Yalp – Sona and Memo.

A Childcare Centre is Coming to Olivia!

In last month’s construction update, we announced the exciting news that Melton City Council had recently issued a planning permit for the future childcare centre proposed within Olivia. 

The architecturally designed premium childcare facility will be located on the corner of Greigs Road and Panaia Boulevard, at the entrance of Olivia (on the site currently occupied by our sales office), for convenient drop-offs and picks-ups!

Construction is expected to commence in late 2022 with the centre anticipated to open at the beginning of 2024. Once fully operational, the five-classroom centre, with over 600 square metres of outdoor play area, will cater for up to 96 children, be open between the hours of 7am and 6pm Monday to Friday, and create 20 local jobs.

Amenities Local to Olivia

We’re eagerly awaiting the next announcement regarding the proposed new addition to our growing community; we’ll be sure to let you know as soon as we hear anything!

Olivia is ideally located in the heart of the west, just 28kms from Melbourne’s CBD, and a short distance from the future Rockbank and Mount Atkinson (Westfield) Town Centres, schools and childcare facilities, transport options, and employment opportunities. Everything you need will be right on your doorstep!

Keep up to date with the childcare centre progress and all things Olivia with our construction updates, news and blogs, and FAQs on our website.

For more information, please get in touch with our friendly sales team on 0422 871 939 or [email protected], or register your interest in upcoming releases here.

All possible efforts have been made to ensure the accuracy and reliability of information and representations contained within this communication. This project, its consultants, its agents, and related entities accept no responsibility and disclaim all liability in respect to any errors or inaccuracies it may contain. The proposed childcare centre, town centres, schools, new transport options, and employment opportunities are to be delivered by third parties and are, therefore, outside the control of the project (Olivia) developer (Marantali Pty Ltd).

Development Manager, Jeremy Hughes, talks about construction progress at Olivia in Truganina

Jeremy Hughes is Olivia’s Development Manager who has been overseeing exciting development milestones including our first residents moving into the estate. He shares his thoughts about what we’ve achieved, and what is yet to come.

We’re now halfway through 2021, what’s been achieved so far?

“The team at Olivia has gone from strength to strength throughout 2021, powering through construction and delivering plenty of lots to buyers across the estate. 

Our first resident, Himanshu and his family, recently moved into Olivia, and we are excited to welcome them to the community which continues to grow and evolve. 

The much-awaited central park in Stage 3 has been approved by Melton City Council which is exciting for existing and future residents. This all-inclusive park uses technology as well as traditional play equipment to engage people of all ages and abilities. The project team will be working hard to commence works on this brand-new feature park in early 2022 for completion mid-next year.

What stages have been delivered in 2021?

“We are pleased to announce Stage 3 titles arrived in May following the registration of the Plan of Subdivision and settlements have already taken place. These titles and settlements will translate to another 80 families joining the growing community and commencing the  build of their dream homes at Olivia.”

What stages are now selling at Olivia?

There has been an overwhelming demand for land in Truganina and the project has achieved record sales numbers over recent months.

“Stage 4 was released to the market in February 2021 and is sold out. Due to overwhelming demand we brought forward the release of Stage 5 and sold through 80% of the stage in just over a month. Titles are expected for Q3 and Q4 2022 respectively.”

How is construction coming along in Stages 13 and 14?

“Civil construction works continue to advance across the estate, powering through delivery of Stages 13 and 14. In Stage 13, electrical works are now complete and concrete footpath installation is progressing. In Stage 14, foundational works have been completed and the installation of concrete kerb and channel is underway. Titles are expected in September and November 2021 respectively.

When will development begin for the Olivia Child Care Centre?

“The good news is that Melton City Council has recently issued a planning permit for the future childcare centre proposed within the estate. This architecturally-designed premium child care facility will be located on the corner of Panaia Boulevard and Greigs Road and will cater for up to 96 children. Construction is anticipated to commence in late 2022 and is earmarked to be operational by the start of 2024.”

How many lots remaining  to sell at Olivia?

“Olivia continues to be popular with a range of buyers, with many first home buyers and upsizers alike looking to call Truganina home. Olivia has seen strong levels of enquiry and a surge in demand over the last six months, achieving over 150 sales in the first six months of 2021; this leaves around 190 lots remaining to sell throughout the project.

This has exceeded our expectations, and we have many enthusiastic buyers who are looking forward to building their homes and moving into the community.

Olivia is ideally located away from freeways and noise, but close enough to be able to get to the CBD, the train, shopping centres and a wide range of schools. Our residents value this convenience, and the word has spread!”

What stages will be released in the future?

“The project team has been busy constantly refining the product mix in order to meet the market demand and offer a wide variety of living choices to suit all budgets and lifestyles. The Stage 6 release to market will be just around the corner so stay tuned!” 

What about the landscaping, when will this begin?

“This Spring will mark the beginning of landscaping works at Olivia. With the majority of housing construction well underway and near completion, it is proposed that all street trees in Stages 1, 2 and 11 will be planted this year. 

We’ve heard there is a state-of-the-art interactive feature park, can you tell us more?

“The interactive park is an innovative and unique feature of Olivia. It will have both traditional play equipment as well as interactive technology-based equipment making it all inclusive, for all ages and all abilities. The whole family can play together, kids, parents and grandparents, and it is inclusive of people with a disability.

The future sports reserve, which also forms part of Stage 3, will be handed over to Council shortly and upon completion will comprise a 10-hectare precinct, expected to feature a range of sporting facilities.  It is expected that construction of this precinct will be undertaken by Council as the number of residents in the area significantly increases.”

Anything else you’d like to say to the future residents of Olivia?

“Olivia is dedicated to creating a healthier lifestyle for its residents with tree-lined streets and parks that promote enjoyment for all. The growing community that is coming together value the convenience, the accessibility and the lifestyle benefits it brings.”

Enquire about upcoming exclusive releases at Olivia

To register your interest and find out more about living or investing in Olivia, please contact our Estate Manager, Christian Taverna on 0422 871 939 or email [email protected]. You can also register your interest for new releases here. 

Our first residents have started moving into their new homes at Olivia in Truganina

Olivia is officially home to our first residents, with more to come in the very near future. After a couple of years of keeping you up to date with land development, construction updates, land titles, and roadworks, we’re excited to start welcoming residents into our new community.

We spoke with Himanshu, who is moving into their brand new 4-bedroom, 2-bathroom home with his wife and daughter, about why he chose Olivia and his plans to create a lifestyle in a neighbourhood of other like-minded people.

Why did you purchase at Olivia? Location-location-location!

“Our priority was a good location and Olivia has this – we bought it because the location is so handy. It’s close to our daughter’s school, to our work, the city, the airport and the Sri Durga temple in Rockbank. 

It’s also easy for shopping and a ten–minute drive to Caroline Springs. The Western freeway is close by to get into the city or to take a trip into the country.

We bought land at Olivia in Stage 1 back in 2018. We loved the location, and we didn’t hesitate, so we were lucky to pick up one of the first lots. We’re very happy to now be moving in.”

How did you find the settlement process?

“Settlement was smooth, and we didn’t have any issues. We settled on time and were able to start planning our new home build when we were ready.”

When did you start to plan your new home build?

“We started planning almost immediately, but the actual home build began in August 2020 and finished in December, so it took about four months. We took advantage of the $25K HomeBuilder Grant which came along at the perfect time.

The building process was a good experience and we are now ready to move into our new home. Now we can just relax and develop a lifestyle here in Truganina and get to know our new neighbourhood.

We are one of the first families to move in, but there are many neighbouring estates around Olivia, so the community extends beyond this estate. We look forward to more people moving here and this [community] will come. There are several houses in our street almost complete.”

What sort of lifestyle are you seeking at Olivia?

“We like convenience and access to the things we need for daily living. Therefore, we find the location is a great advantage, with new shopping centres and a railway station close by being developed. 

The community will grow, and we look forward to meeting our new neighbours. We’ve already met some people on the Olivia residents Facebook group – we have been sharing our experiences of settlement and building here which has been very helpful. We are also thinking of creating a Facebook group for all residents who have moved in so we can have a place to welcome new residents, create a sense of community and safe neighbourhood, and to share ideas about how we can create a better lifestyle here.

We will gradually meet more and more people and we are happy to be one of the first who will help to shape the community here.

And there isn’t just the Olivia community, but we also have other large communities and suburbs around us being developed and established.”

The Western corridor of Melbourne is growing and thriving – contact us to find out about a lifestyle at Olivia

The Western corridor of Melbourne is growing rapidly with more and more facilities, transport, employment opportunities and shopping centres being developed to accommodate the growing number of families moving into the area. 

Titles for Stage 3 were received in May 2021, with Stages 13 and 14 due to title later this year. We are currently selling land in Stage 5 and townhomes as part of our Aria and Opal releases.

Call our friendly sales team today on 0422 871 939 for more information or register your interest for exclusive access to upcoming new releases here. 

Olivia is a hive of activity – a new community is taking shape.

Olivia in Truganina is a hive of activity which is developing into the beautiful new community we have all been looking forward to. Every day we’re seeing amazing progress being made onsite which is so exciting for both us and Olivia property owners who will soon be living there. 

Take a look at our latest construction update video to see all the changes over the past three months.

Here’s a brief update to keep you in the loop:

Titled Stages

With Stage 1, 2 and 11 titles delivered in Q3 last year, there has been plenty of activity since then with builders working hard on the construction of approximately 100 homes. It won’t be long before we are welcoming Olivia’s first residents and forming this new and wonderful community that you will soon be a part of.

Stage 3

Civil works have continued to advance with concreting and footpaths following the completion of electrical and NBN installation. Stage 3 titles are currently on schedule for delivery in May 2021. This is great news if you are planning to start building and take advantage of the $15k HomeBuilder Grant. For this grant, your build contract must be signed before 31 March 2021 with construction to commence within six months from the date of signing the contract with your builder*. 

You have enough time to benefit from this incentive if you begin planning your home build soon.

Stages 13 & 14

Bulk earthworks have commenced and are progressing well. Stage 13 titles are expected to be delivered in Q3 2021, with Stage 14 titles expected to follow soon after in Q4 2021.

There’s no doubt 2021 is off to a great start at Olivia. Construction is full steam ahead and we are excited to announce that record sales continue. We have already sold 300 lots with new purchasers eager to join our growing community. Your future neighbourhood is growing fast!

Start something beautiful at Olivia today

Building a beautiful home is still an affordable reality at Olivia. Located in Truganina, just 28kms from Melbourne’s CBD, Olivia offers 6.5 hectares of open spaces and easy access to schools, transport options, employment opportunities and shopping centres. Everything you need will be right on your doorstep!

Contact our Estate Manager, Christian Taverna on 0422 871 939 or [email protected] to make an enquiry and start something beautiful today.

Watch our construction update video here – March 2021.

Thinking about starting to build your new home? Here are some useful articles:

HomeBuilder Update: $15,000 Grant Extension
https://oliviaestate.com.au/homebuilder-update-november-2020/

5 Step Guide To Settlement And Getting Ready To Build Your New Home
https://oliviaestate.com.au/5-step-guide-to-settlement-and-getting-ready-to-build-your-new-home/ 

*Eligibility criteria apply, for more information visit the State Revenue Office website.

What you need to know about getting a home loan pre-approval 

Getting pre-approval for a home loan before you go property hunting puts you in a good position to make an offer on the ideal property. It makes sense to understand your borrowing capacity and the likelihood of getting approval for the amount you’re seeking. Being prepared saves time and money in property transactions.  

When you sign a contract for land or a house and land package, the sales agent will want to know whether you have your pre-approval or full approval for finance to complete the purchase.

However, a pre-approval does not mean you will get full approval of your home loan application. Here are things you need to know to ensure that your property purchase goes as smoothly as possible.

1. Why is it important to get pre-approval for finance?

You need to know what your borrowing capacity is and what the banks will potentially lend to you before you go house hunting. Online calculators only give you a part of the picture. They won’t take into account your credit score, salary sacrifices and other factors that may affect your capacity to borrow the funds you need.

The final salary amount and other information required that is taken into account for a pre-approval also varies from bank to bank.

2. What paperwork do you need to submit to get pre-approval?

If you are an employee:

The banks often require only your most recent payslip. They will also do ID checks, request a bank statement and review liabilities such as credit card debt.

If you are self-employed:

For people who are self-employed, the banks will want to know your business structure, i.e. sole trader, trust or company, and will ask you for your last two years of tax returns and current financial statements from your accountant. 

3. If your pre-approval gets knocked back, does it affect your credit score?

Every time you apply for any type of credit, it impacts your credit score. The Australian credit score system will disclose the number of applications you have made but won’t necessarily state whether your loan has been approved or rejected.

It’s worth noting that the frequency of submitting an application affects your score. Lending professionals recommend that you don’t apply for loans more than six times in six months – this is only an approximation and depends on the financial institution’s guidelines in approving home loans.

4. What are the most common reasons that pre-approval does not end up in full approval

The bank has provided a pre-approved home loan, but then knocks it back – why?

Here are some possible reasons so that you can be prepared:

– Pre-approved home loans have a limited life span, The Commonwealth Bank approves them for 6 months, but many other banks approve them only for 3 months.

– Your pre-approval is based on your current credit score. If you take out other loans during the time your pre-approved loan is valid, such as car loans or credit cards, this may affect your final approval. 

– The property you intend to purchase does not meet the bank’s lending rules. This is mainly due to changing valuations, for example, during COVID lockdowns, property valuations were affected which in turn impacted the lending capacity and pre-approvals for many people.

By knowing why your pre-approval may not lead to a full approval, you can be better prepared. Talk to your home lender about any of these concerns.

5. Know what home grants are available to you

There are a number of grants available at this point in time to consider. 

1. $15,000 HomeBuilder Grant until the end of March 2021

2. $10K First Home Buyers Grant if you’re buying or building your first home

3. The First Home Loan Deposit Scheme if you have less than 20% deposit

For more information, read $35k+ Worth Of Reasons To Start Building Your Dream Home At Olivia In 2020. 

House and Land in Truganina in a boutique development

Olivia is a small boutique house and land development in Truganina, in the rapidly growing western corridor of Melbourne.

The development has 6.5 hectares of open spaces including a 4.5-hectare sporting ground and a further 2 hectares of family-friendly landscaped parklands.

Contact our Estate Manager, Christian Taverna on 0422 871 939 or [email protected] to make an enquiry and start something beautiful today.

Image credit: Micheile Henderson on UnSplash