Tag: Buying off the Plan

Construction continuing on Marigold’s Stage 10 Park!

Construction of Marigold’s Stage 10 Park in Tarneit commenced late last year before the Christmas break. The construction site is now a hive of activity as the construction team work hard to deliver the second local neighbourhood park for the community in Tarneit.

The construction team began with earthworks to shape the land to the desired levels and prepare the area for the next stages of construction. Since continuing work at the start of this year, drainage has also been completed and the park has really begun to take shape with the different sections of the park now evident, the concrete for the shared paths complete, and the first signs of equipment installed.

Stage 10 Park site secured with Earthworks underway in December 2022.

This next phase of construction is an exciting one with the team installing all of the play equipment for the park, completing the paving and edging around the path network and continuing to install the feature boulders, timber bench seating and will connect and install the water drinking fountain.

Park bench seating and equipment being installed in Frog Way Park.

If you’d like a recap on what play equipment will be included in Frog Way Park, you can visit our previous news post here.

The final phase of construction will include the landscaping works and the installation of the rubber soft-fall surface around the play equipment with works anticipated for completion mid-year. The park will open some time after that once official approvals have been received from council.   

We look forward to delivering this new park to the Marigold community that will provide a space for relaxation and encourage a healthy and active lifestyle for all residents. Marigold residents can expect to reap the rewards of being surrounded by ample green space, look forward to spending many hours outdoors and feel the benefits of an enhanced connection to nature. This is a space that all Marigold residents will be able to enjoy passively or actively.

Stay tuned for more construction updates coming soon!

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Entry

Derrimut Road Entry Feature Complete

Work has recently been completed on the entry feature for the secondary entrance to the Marigold community off Derrimut Road in Tarneit.

Constructed in the same style and design as the original entry feature, on the corner of Doherty’s Road and Padma Boulevard (at the entrance to the Marigold Display Village) the new entry feature ensures consistency and a cohesive feel throughout the community by continuing the curvilinear stonework.

Stone wall under construction
Stone wall under construction

Construction of the entry feature has included building the stone walls by laying the individually shaped rounded boulders to the varying heights of the sloped wall. The wall is then levelled out and smoothed on top to create a nice finish, whilst simultaneously a signage writer has been commissioned to create the signage panels that make up the Marigold logo.

Stone wall complete awaiting Marigold lettering

Lastly, the entry feature is not complete without the landscaping work completed on the surrounding area with planting and laying grass.

Currently temporary fencing surrounds the new entry feature whilst the landscaping works continue.

Stay tuned for more construction updates coming soon!

To keep up to date with the very latest construction and community news, be sure to like us on Facebook, follow us on Instagram and look out for the monthly construction portal update post that will allow you to monitor your stages’ construction progression.

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The Pros of Buying off the Plan
The Pros of Buying off the Plan

The Pros of Buying off the Plan

Tossing up between buying off the plan and established? 

Here are the pros for buying off the plan!


Giving you time to save

Many first home buyers like buying something off the plan because it gives them more time to save for their initial deposit compared to established.

Buying off the plan enables you to secure land, or a house and land package, that suits your financial capability.  An initial deposit of $1,000 is all you need to secure the right block of land to suit your dream home. Upon signing your land contract, the balance of your 5% deposit is payable and no further payment is required until your land titles (which depends on your loan arrangements).  In the meantime, whilst you are waiting for your land to title, you are able to work with your chosen builder to finalise your build costs. You also have the time between paying your deposit and settlement to continue saving for upgrades, items for your new home or allowing for unexpected costs. This transparent and upfront process can be more agreeable, particularly if you are working with a tight budget and need to know exactly the amount you have committed to.

Buying off the plan allows you to enter the market on your terms. You are not subjected to attending multiple auctions week after week praying for something to sell within your price range. You already know the total cost of your land or house & land package (fixed only).  With established homes, you also have a shorter window to settle, generally either 30, 60 or 90 days and need to allow for stamp duty fees. 

Another advantage is that we work with many builders who also offer saving plans for first home buyers. Ask our sales team to point you in the direction of these builders if that sounds like something that interests you.


5% is all you need!

Here at Marigold all you need to secure your lot is an initial deposit of $1,000! This secures your land whilst you review your contract with your conveyancer.  The balance of the 5% deposit is required upon signing your land contract. At settlement, after your land has titled, any further payments are made by your banking instituion on your behalf in accordance to your loan conditions. Anticipated title dates vary between stages in a community and can generally range from 9 months up to 18 months. When choosing the right block of land to suit your needs, you can choose one with titles further out, so you have plenty of time to save.


Saving on stamp duty 

If you buy an established home, you will most likely pay land transfer duty (otherwise known as stamp duty). 

Depending on the value of your home, you may be able to claim a duty exemption or concession.  

First-home buyer duty exemption – A one-off duty exemption is available if your new home is valued up to $600,000 and will be your principal place of residence (PPR).

First-home buyer concession – You may be eligible to claim a discount on your stamp duty if your new home is worth between $600,001 to $750,000 and it will also be your principal place of residence.

When you buy a block of land, stamp duty is only calculated on the value of the land, which may mean you will not be required to pay for stamp duty at all. Whooppee!


Receive $10,000 from the government with the First Home-Owner Grant!

That’s right, $10,000 from the government for nothing! Pretty sweet huh?

If you build a new home valued up to $750,000, you may be eligible for the First Homeowner Grant (FHOG).
Find out more here – https://www.sro.vic.gov.au/first-home-owner


Avoid the negotiations

Never been a good negotiator? Buying off the plan can save you the trouble!

When choosing to buy established, conditional/unconditional loans, settlement timeframes and deposit amounts are all factors that can influence your attractiveness to a vendor. Any offer you present is at the vendors discretion. This is where second home buyers and investors can win out over first home buyers in negotiations if they have a bigger deposit amount saved or the imminent sale of a home behind them.


We hope we have put together a good case for buying off the plan. At the end of the day, we know that you will make the right decision for you at this stage of your life.
Most importantly, buying off the plan is great as you have the fun and freedom of choosing your home and being the first one to live in it!

Have more questions about what buying off the plan is like? Our friendly sales team are happy to help and answer any queries you may have.
If you wish to speak to our sales team,  please feel free to reach out on either of the following methods:

Phone: 1300 888 181

Email: info@marigoldtarneit.com.au

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How to choose the right block of land

So, you’ve decided to buy land to build your dream home. Great! Now what? 

Where do you begin? Luckily, we are experts, and we have a few suggestions of things to consider to ensure you find the block of land that is perfect for you! 

Get started with this essential checklist that will help you find the perfect block of land for your dream home. 

Know your finances.

Consolidate your savings and prepare your spreadsheets with your expenses, it’s time talk to your bank or financial specialist for a pre-approval. This is an indication from the bank of your borrowing capacity (the amount the bank or financial institution is willing to lend you). This amount is based on your income, deposit amount and other expenses.

From here, you will have a better understanding of your overall budget! This is an important step as it allows you to search for your house and land confidently, knowing what budget you have to work with.

Don’t forget to put aside some funds for stamp duty and other taxes like Lenders Mortgage Insurance (LMI). 

Find the perfect floorplan.

The size of the lot you purchase will determine the size of the house you can build. 

Determining the size of the floorplan you need helps prevent you from overpaying on the land component as you won’t be paying for excess land you do not need. 

A checklist with your ‘must-have’ and ‘negotiable’ items is a great way to get started. Answer questions like: 

-Are you looking for something low maintenace or would you like a big backyard with space for a pool or garden shed?

  • How many bedrooms and bathrooms do you need?
  • Are you looking to build a single or double-storey?
  • What design features will make your life easier? A study or working from home space, walk-in pantry and large bench, alfresco for outdoor entertaining? 

Visiting display villages and speaking to building consultants will help you choose the right floorplan to suit your family’s needs. 

Is north facing the best orientation?

The orientation of your land and floorplan is another important consideration. From a builder’s perspective, north-facing land in Tarneit allows maximum sunlight throughout the seasons. With the sunshine facing onto the main living areas, this will passively heat your home during the colder months, helping you save on your electricity bill. The placement of windows can also have a significant impact too!

Location.

Finding a community that complements your lifestyle is the next all-important step. 

  • Do you want to be able to walk to local shops and cafes?
  • Do you want to be close to an abundance of parks, open space and cycling and walking trails?
  • Are you planning on starting a family and need to be close to schools and early learning centres?

These are all important factors that should be considered when looking for the ideal community to call home. The key point is that you decide what factors are most important to you. We may be biased but Marigold ticks a lot of those boxes!

View Marigold’s enviable location in Tarneit here or discover more of the future amenity planned for the area here.

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We hope this checklist has provided you with some helpful information to assist you with your new home buying journey.

If you have any questions or wish to discuss any aspects of the home and land buying journey, you can contact our friendly sales team on 1300 888 181 or via email at info@marigoldtarneit.com.au.

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