Buyer's Information
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$10,000 FIRST HOME OWNERS GRANT
If you’re a first homebuyer looking to build a new home at one of our Private Estates now’s a great time with the $10,000 FHOG.
The First Home Owners Grant applies to newly constructed homes in our Private Estates, giving first home buyers more choice than ever!
Furthermore, there are zero or reduced stamp duty costs for first time buyers, making it even more affordable to get into your own home. Exemptions apply to new homes worth up to $430,000 or land up to $300,000.
Now is the perfect time to take advantage of the first home bonus, stamp duty exemptions and low-interest rates, to help you secure your new home call us today on 08 9221 5121.
KEYSTART HOME LOAN
If you thought a low-cost Keystart loan was out of reach, check out the new income limits too – earn up to $90,000 as a single, $115,000 as a couple or $135,000 as a family.
* Terms and conditions apply
Further details are available at www.keystart.com.au – your home loan lender will be able to further help you.
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WORKING OUT YOUR FINANCE
Buying or building a home is one of the biggest investments one can make so it is important you’re comfortable with the financial commitment long term. The best way to start is by looking at your current financial situation and working out how much you can afford each week in mortgage repayments by drawing up a budget. If you are already renting, you will have a good idea on how much you can aim for each week in repayments and if you can afford a little more or would like to pay less. The next step would be using an online borrowing calculator and visiting your bank for an accurate loan amount you can take out.
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It is also ideal to start researching the type of block (traditional, cottage etc) and browsing different build plans to work out what is important to you in your new home. This will help you work out what you can build within your budget and if you would like to make any adjustments to your budget.
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WHAT IS A LAND TITLE?
A land title (also known as a certificate of title) is a legal document that has been issued by the relevant state’s official government department for land ownership. On the document, the owner’s name is listed with a legal description of the particular land. This document is needed for settlement to take place. Without titles, settlement cannot be finalised on the piece of land.
Each lot in DJ MacCormick’s estates has its own certificate of title. You can however, continue to develop your build plans until titles are due. This allows you to continue saving your deposit, however some prefer to purchase a titled lot as it means settlement and construction can happen sooner.
WHAT IS SETTLEMENT?
Settlement is the process in which property legally changed from one owner to another and the full purchase price is paid to the seller. When you purchase with DJ MacCormick Property Group and have received a notification that your property has settled, this means the lot ownership has been officially transferred from DJ MacCormick into your name.
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Your nominated settlement agent is the person/company who will prepare all the necessary paperwork involved to purchase your new block and transfer the ownership of the land to you. They will also notify relevant parties of the purchase; including councils and authorities that you are the new owner. Once they have sent you a letter which confirms they are allowed to act on your behalf, the process of change of ownership can begin.
WHAT IS A BUILDING COVENANT?
Each of DJ MacCormick’s land estates have building rules and guidelines in which the owner must abide by in the construction of their home. This allows a consistent and attractive community to be built.
The building covenant is presented in an annexure within your O&A and will cover things such as types of materials used, the exterior facade colours, garage or carport construction and the ratios in your front garden. This will ensure a beautiful estate that owners will be happy to live in long term.
I'VE SIGNED MY CONTRACT, NOW WHAT HAPPENS?
Once your contract as been signed and you have chosen your settlement agent to act on your behalf, you need to start planning your house designs to enable your broker/lender to confirm finance approval by the date stated in your contract.
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Once your loan is approved your lender and settlement agent with then arrange and book in settlement. Your bank will prepare mortgage documents to sign and your settlement agent will send you a transfer of land document for sign. At settlement your chosen home lender will pay funds to purchase the land. The signed Transfer of Land is lodged at the relevant government department to enable the land to transfer to your ownership