Everything You Need To Know About Buying House And Land Packages In Melbourne

Most Australians dream of owning their own home, perfect for their family and lifestyle; and what better way to achieve the perfect home than by building it yourself?

Melbourne house and land packages are a great investment for those who want to buy a brand-new home with plenty of benefits and in the most liveable city in the world.

What Is A House And Land Package?

While it may sound simple, understanding house and land packages can be confusing, especially if you’re new to buying property. A house and land package usually involves two separate contracts: one for the land, and one for the house. You’ll need to enter into a contract with the builder to build the house and a separate land contract with the developer.

This is different to an off the plan package for an apartment or townhouse, which entails a single contract and an initial deposit, and then settling on the remainder after it has been built. (This is usually easier for townhouses and apartments which have multiple investors, as opposed to a house which will have a single buyer and owner.)

A house and land package, however, involves paying off the cost of the land before building, and then paying instalments on the house to the builder during the building process on a separate contract.

So, buying a house and land package means just that – you’re buying land and you’re buying a house in a package deal, but with a contract for each.

Why Should You Buy A House And Land Package?

According to statistics about Melbourne building approvals from the Australian Bureau of Statistics, “the trend estimate for private sector houses approved rose 1.0% in July and has risen for five months.”

There’s a growing trend in buying house and land packages in Melbourne, and it’s easy to see why. Benefits (such as stamp duty and tax depreciation) are why house and land packages are becoming more appealing to Melbourne buyers, along with the advantages of newness and choice. Also, as house and land prices increase, it makes sense to invest now and see the market value of your property increase while you build.

Stamp Duty

When you buy a new house, you will usually have to pay stamp duty on the property as part of a land transfer tax; however, when you buy a house and land package, you only need to pay stamp duty on the land, as the land and house have separate contracts. You can save money this way, as stamp duty for both the house and land would be respectively higher. To calculate stamp duty, use the calculator on the State Revenue of Victoria website here.

Tax Depreciation

For those looking to save money, the tax depreciation benefits of a house and land package are a huge positive for investors. You can claim tax on depreciable assets like fixtures, fittings, and even some of the construction costs. You might also be able to claim on rates and interest payments. These benefits are greatest when the property is newest, so a house and land package is great for your savings.

First Home Owner’s Grant

If you’re buying your first home in Melbourne, you can receive up to $10,000 with the First Home Owner’s Grant, for homes valued under $750,000.
To read more about the first home owner’s grant, see the State Revenue of Victoria website.

Designed For Your Lifestyle

When you buy an established property, you have to make do with what you’re offered and will often have to compromise on a few features you wanted. When you buy a house and land package, you have the freedom to include everything you want and choose a design that suits your lifestyle and family. You can customise (to a degree – make sure to check with the builder about any restrictions they might have) to suit your needs and your budget.

It’s Brand New

A brand-new home is great for first home buyers who want to have a property they can really call their own; and for investors, tenants will be more attracted to the new fixtures and fittings.

As we learn new and better ways to build, over time this means that a new home will often be built with more environmentally friendly fittings and materials than older homes, and the latest in designs and surfaces. For those who want a modern home with the best the market currently has to offer, it’s better to buy new.

Lower Maintenance

Established properties might require renovations, maintenance, or alterations, which all adds to the cost of purchasing a property. You can waste a lot of time (and even more money) trying to bring an established home up to your standards. A new home, on the other hand, will maintain its value for a longer period of time, and with brand-new fixtures, fittings, and materials, your new house won’t need the upkeep and will last longer without the hassle of renovations.

Traps To Avoid When Buying A House And Land Package

When you build a home, there’s a potential for problems to arise during the building process, such as delays or having to spend extra money along the way. Make sure to plan ahead and budget conservatively just in case.

If you’re investing in a new property with the intention of renting out to tenants, then you’re not going to see any returns on your investment for a while as the property is built. Make sure to save ahead for the building period.

Be prepared to wait for your new home. The building process can sometimes be delayed for a number of reasons, and this can be a negative for some buyers. Make sure you consider time delays when buying a house and land package.

Why Is Melbourne a Great Place to Buy A House and Land Package?

Melbourne has not been named the most liveable city in the world for no reason. It bursts with culture, art, music, fashion, and food. It has great public transport systems and high levels of safety. It’s diverse and full of interesting people. There’s lots to do and lots to see. But, most importantly, there’s plenty of opportunity for those looking to buy in Melbourne right now.

With a 9.7% growth in population, buying property in Melbourne is more popular than ever. The region had 1,741,976 residential dwellings in 2016, growing from 1,572,171 residential dwellings in 2011.

As the city grows more popular, it’s more appealing to buy in the greater region if you’re looking for a quieter home life than the bustling inner city can offer.

Location and Weather

House and land packages are growing in popularity in greater Melbourne, which encompasses the region from Point Cook in the west all the way to Officer in the east. Much of the region surrounding the north, east, and south of Port Phillip Bay, where there are a number of beaches and ports.

The City of Melbourne website states that “Melbourne residents enjoy a temperate climate influenced by its location at the apex of one of the world’s largest bays, Port Phillip Bay.” The weather in Melbourne is a great bonus for those who can’t stand the heat of Australia’s more northern cities.

For professionals (who make up 24.% of greater Melbourne’s workforce, as of the 2011 census) looking to buy a house and land package in greater Melbourne, you can be as close or as far from the inner city as you like; you could settle in the suburbs but still be close enough to the city for work and weekends.

It’s A Multicultural City

According to the Australian Bureau of Statistics, as at 2016, Greater Melbourne has a population of 4,725,316 people. The city has a diverse, multicultural community, with 31.5% of people being born overseas.

Family Friendly

For couples with children (approximately 48% of Melbourne families), the greater Melbourne area is a great place to raise your family. A house and land package in Melbourne is popular for those wanting a larger family home rather than an apartment or townhouse.

Schools and Education

The Greater Melbourne region has nine universities, seven TAFEs, and many more primary schools and high schools to offer. The Australian Government website, Future Unlimited, states “[Greater Melbourne] has 5 of Australia’s top 20 universities, one of the world’s top 30, and 2 universities in the world’s top 100.”

Use the handy schools search here to find the right school for you, whether it be primary or secondary, public or private, co-educational or single-sex, Catholic or independent.

For several schools, potential students must live in certain catchment zones to be able to attend. This can make certain suburbs competitive for buyers, so make sure to research what schools you can attend depending on where you want to build your property.

Transport

Melbourne is renowned for its great public transport services, especially by bus, train, or tram. While many people prefer to drive to work to get around, it can get congested in the city; for those looking for more environmentally-friendly options, there’s plenty to choose from. Check the journey planner on the Public Transport Victoria website to view your transport options.

Health and Hospitals

Health is taken seriously in Australia, and Melbourne doesn’t lack for hospitals or health services. There are numerous private and public hospitals, including The Alfred, Beleura Private Hospital, and Sandringham Hospital, plus many, many more.

Attractions

There’s no shortage of things to do and see in the greater Melbourne region. There are plenty of parks and nature reserves: such as the Dandenong Ranges, the Victoria State Rose Garden, and the Werribee Open Range Zoo (where the animals aren’t enclosed in cruelly small spaces but can roam free on 225 hectares of open savannah).

For club goers, there’s a great nightlife scene in Melbourne, and plenty of bars, pubs, and clubs to choose from, including comedy and jazz clubs, wine and karaoke bars, dance clubs, and discos.

Melbourne has a rich history, and for those looking to invest in the area, there’s a plethora of historic sites to go and visit to immerse yourself in the city’s rich history and culture. You can visit the infamous Old Melbourne Gaol, which housed Ned Kelly or catch a train from the iconic Flinders Street Station to the outer suburbs. Rippon Lea is a preserved 19th-century suburban estate, and the mansion and gardens are the last in Australia that you can still visit.

Overall, it’s hard to beat the greater Melbourne region when it comes to livability, culture, health and safety, entertainment, and potential for growth.
If you want to know more about the property and development activity in Melbourne, go to the City of Melbourne website and see their 3D Development Activity Model.

Want To Talk To A Professional?

If you still have questions, get in touch with us today to figure out if a house and land package is for you.

Call us today to talk to an expert on Melbourne house and land packages. For more information, find us on social media or browse the website for more on house and land packages or buying off the plan in Melbourne.

If You’re Thinking Of Buying An Off The Plan Townhouse In Melbourne’s South East, Here’s What You Need To Know

If you want to live in the most liveable city in the world, but don’t want the fast-paced, inner city lifestyle, then consider an off the plan townhouse in South East Melbourne.

The south east suburbs of Melbourne are growing in popularity as people want more space and privacy than the inner city allows, but still want to be close enough to have a quick commute to work.

The leafy, spacious streets of south east Melbourne are a must for professionals and families looking to buy off the plan. Townhouses especially are popular in Melbourne, as they are more affordable than a house but are more spacious than an apartment.

As prices continue to rise, they are a great option for those looking to save money, and buying off the plan gives you more time to get your finances in order before settling into your new home.

What Is An Off The Plan Property?

If you’re not familiar with the term, an “off the plan” property is one bought before the construction of the property is completed – that is, you sign into a contract with a developer and pay a deposit (usually 10%) and then you have to wait while the property is built.

There are many advantages to buying your property as this stage of development: you can have some input into where the house will go and what you want it to look like, your house might increase in value by the time you must pay for it, but you will be paying the price settled on at the time of the contract, and you have plenty of time to get organised financially before moving into your new off the plan townhouse.

Should You Buy Off The Plan?

As of 2015, Census Data shows that the value of private sector dwellings (excluding houses) has risen from $234 million in 2011 to $393 million in 2016. This is evidence of the growing market value of south east Melbourne townhouses, and prices are set to only increase. The number of building approvals for these types of properties has also increased, from 5513 in 2013 up to 8458 in 2016. For those who want to buy, now’s the time to invest.

There’s plenty of things to consider when buying off the plan: namely, your financial situation, how long you’re willing to wait, and how much input you want in the development process.

Off the plan townhouses in south east Melbourne are a popular choice among today’s families and professionals as market prices continue to increase; by purchasing at the current market value, you could be locking in a townhouse at today’s prices, and when it’s finished, you will be paying that same price, regardless of if the value of the house has increased.

The reason this perk exists is because developers want you to lock in a property so that they can secure the project and know they will have a buyer once the property is finished. It’s a great way to stay ahead of growing market prices in south east Melbourne.

Time To Save

If you’re not ready to pay for a finished property and still need time to save money, then buying off the plan is a great option. After paying for the deposit, you don’t need to worry about starting mortgage payments until the townhouse is completed.

While you wait for your new townhouse to be built, you could be earning and saving more so that when it is time to pay off the remaining costs of your property, you won’t need such a large loan and will have lower monthly repayments later on.

You Can Have Your Say

When you enter into a contract to buy an off the plan property, you are still in the pre-development and design stages, which means that you can have you say while the plans are still being drawn up.

You can choose fixtures and finishes (but make sure to check your contract to see how much leeway the developer has to change your decisions later on to avoid disappointment); if you get in early enough, you can have the best pick of locations and townhouse designs, but the level of customisation depends on the developer and your contract.

Make sure to stay up to date with the construction process and have your contract looked over by a legal professional if you are still unsure about any fine print.

Am I Eligible For Stamp Duty When I Buy Off The Plan?

You might be eligible for stamp duty concessions when you buy an off the plan townhouse in south east Melbourne; For more information, see the REIV webpage.

Click the following link to use the convenient calculator from the State Revenue of Victoria website to calculate your stamp duty.

Why You Should Buy A New Townhouse In South East Melbourne

Are you considering where to buy? Here are a few great reasons why you should buy a new townhouse in South East Melbourne.

Liveability Rating

According to the EIU (Economic Intelligence Unit), Melbourne has been ranked the most liveable city in the world for seven years in a row, and not for nothing.

Melbourne has a low crime rate, great healthcare and education systems, and a wealth of culture to be enjoyed. Melbourne’s top spot beat out famous cities like New York, Vienna, Paris, Toronto, and Melbourne’s south east is a popular area for those wanting a little less noise and more greenery in their scenery.

The south east region encompasses 10 districts: Bayside, Cardinia, Casey, Greater Dandenong, Frankston, Glen Eira, Kingston, Monash, Mornington Peninsula, and Stonnington. According to ABS statistics from 2011, the area has a population of 751,032 with a median age of 35.2 years of age, slightly younger than the average Australian, who is 37.4 years old. It’s a great area for young people, especially students, who have several universities and schools to choose from.

The population density has been increasing yearly, with 356.2 people per square kilometre in 2011 versus 390.9 people per square kilometre in 2015. This shows the growing popularity of south east Melbourne, and buying a townhouse is a great way to save space and money in this area if you’re thinking of buying.

Over half (52.6%) of the population have post school qualifications, and the most common professions are Professionals (17.5%), Technical and Trade workers (15.6%), Clerical and Admin workers (15.3%), and 11.1% labourers.

The majority of households are family households, with 77.9% of households identifying as such.

South east Melbourne is a diverse and multicultural area, with 38.2% of people speaking a language other than English at home, and 44.8% of the population being born overseas; the most popular areas were 9.5% from Southern and Central Asia, 7.4% from South east Asia, and 6.2% coming from Southern and Eastern Europe.

Transport and Roads

Public transport in south east Melbourne makes it easy and painless to get around, especially if you want to travel into the CBD regularly.

There are regular trains, trams, and buses servicing the south east. For more information, check the Public Transport Victoria Journey Planner here.

For the environmentally conscious or those looking to stay healthy, bike-riding is a popular method of transport for Melburnians, and there are plenty of bike trails and paths for cyclists in the area. For a list of bicycle and walking routes, check Vic Roads.

Melbourne has a high focus on safety, and the “Share Our Streets” campaign promotes courtesy and safety on their streets to all road users, including pedestrians and cyclists.

South east Schools

For those seeking early child care, kindergarten, or prep, there are so many options to choose from: check out The Australian Child Care Index to find a comprehensive list of all child care centres in south east Melbourne.

As some schools require you to live in certain zones to be able to attend, the areas around certain schools can be quite competitive, so make sure to do your research on any schools you want to enrol your child in to make sure you qualify. If you want to live in any of these zones, consider buying a townhouse off the plan in south east Melbourne – you’ll have more time to prepare your family while the house is built, and you will be in the perfect position for schools later on.

To compare and contrast different schools in Melbourne’s south east, see Melbourne Schools to narrow down your search options depending on the education level and type of school you’re looking for.

Primary schools in the area include Albany Rise Primary School, Aspendale Gardens Primary School, Beaumaris North Primary School, Christ Our Holy Redeemer School, Caulfield South Primary School, Huntingdale Primary School, and many, many more.

There are plenty of high schools to choose from as well, including Dandenong High School, Ashwood college, Caulfield Grammar School, Haileybury Secondary School, Lauriston Girls School, St Kevin’s College, and plenty more. To see more, check out Melbourne Schools.

For universities, you can choose between the University of Melbourne in the city, Monash University, Swinburne University, and Deakin University.

Shopping and Entertainment

Westfield Fountain Gate is a popular store for those living in the south east region who want the latest in fashion, lifestyle, and entertainment shopping options.

For market-goers, the South Melbourne Market has been a staple since 1867 for those wanting to eat, drink, and shop locally produced goods. There are also live music events and entertainment. Read more about the markets here.

According to The Herald Sun, the “best brunch spots in Melbourne’s south east” include Left Field, Oasis Bakery, Cote Terra, The Ambrosiary, Little Collins, and South Society.
Popular restaurants in the south east region include the Prahan Hotel, Arda Turkish Cuisine, Sette Bello, The Kingston Hotel, and O MY.

For more to do in south east Melbourne, check out the Body and Soul Festival, The Handmade Show, the Melbourne Tram Museum Open Day, and The Melbourne Fair.

Parks and Recreation

South east Melbourne is known for its leafy streets and pleasant parks, where you can go out with the family, walk the dog, cycle, or just relax among nature. Search the list of great playgrounds in the area here.

The beaches in south east Melbourne are popular spots, and the main bayside beaches are along the south-eastern suburbs that line Port Phillip Bay. They are great places to go for a swim, walk, picnic, or just a family day out. There are lots of rock pools to explore and off-leash dog parks. Popular spots include St Kilda Beach, Elwood Beach, Brighton Beach, and Half Moon Bay.

If you want a gym nearby, you have plenty to choose from in Melbourne’s south east; popular fitness centres like Aliento, Re-Creation Health Clubs, Fernwood Fitness, Jetts, Zumba, Boxing Dandenong, and the Melbourne Sports and Aquatic Centre in Albert Park, which has aquatics, stadiums, and children’s programs; the MSAC (Melbourne Sports and Aquatic Centre) has hosted over 40 international events.

Other Great Features of South east Melbourne

Melbourne’s south east region has a variety of libraries spread throughout the suburbs, like the City of Kingston’s Dingley and Clarinda Libraries, who even deliver library materials to those who are unable to independently visit their local library.

Hospitals in the area include the South eastern Private Hospital, Dandenong Hospital, and the Waverley Private Hospital.

For pet owners, have peace of mind knowing the South eastern Animal Hospital is nearby in case of emergency.

Melbourne’s south east is a great place to invest in, especially for families and professionals. Think about buying off the plan; you could save money, accumulate value on your property, and create a home all your own – all while living in the best city in the world.

Want To Know More?

We know it can be confusing, especially if it’s your first time buying a home or if you’re unfamiliar with buying off the plan; if you still have questions and want to talk to an industry professional, call Oak Laurel Real Estate or sign up for a newsletter to find out more about off the plan townhouses in the Melbourne south east area.

Browse our website to read more about off the plan properties or find out more about buying off the plan townhouses in other Melbourne suburbs. You can also check out this info about buying a townhouse in these specific  South East Melbourne suburbs like Box Hill, Mt Waverley or  Burwood East. These are some of the best locations to buy a townhouse.

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Off The Plan Townhouses in Box Hill Are A Great Investment In This Booming, Multicultural Suburb

If you’re planning to buy off the plan in Melbourne’s eastern suburbs, then the multicultural suburb of Box Hill could be perfect for you. Townhouses, especially in this region, are growing in popularity as they often cost less than a stand-alone home but are more spacious than an apartment. An off the plan townhouse in Box Hill maybe just what you are lookign for.

What Is An Off The Plan Purchase?

You may be wondering what it means to buy off the plan. For those new to the process, buying “off the plan” means making a commitment to a property that has not yet been built.

Essentially, you enter into a contract with a developer and put down a deposit, and then you have some time before the property is finished and you finish paying any outstanding costs.

It’s a great option if you want some time to get your finances in order or want the benefits of choosing layouts and locations rather than choosing from the limited options of what’s already on the market.

Top 10 Reasons To Buy Off The Plan

Stamp Duty Concessions

Stamp duty is a tax you will usually have to pay that covers the cost of changing over titles and ownership details of the property. There is a handy calculator on the State Revenue of Victoria website.

Some people are exempt from or can get concessions paying stamp duty; for example, pensioners or first home owners.

Builder’s Guarantee

If you look up Consumer Affairs Victoria on their website here, you’ll see that your rights are protected during the building process by a “builder’s guarantee”.

This means that the law in Australia requires builders to uphold certain standards of workmanship, and makes sure they deliver what is stated on the contract. These obligations are under “consumer guarantees” in Australian Consumer Law.

Newness

A great advantage to buying off the plan rather than purchasing an established property is that “new home” feel; you get to be the first one to walk through the door and make it your own.

Also, if you get in early with developers, you will have your pick of townhouses available; which, of course, you can still customise before finalising the contract.

Capital Growth

If you want to stay ahead of the market, then off the plan is a great choice. You put down a deposit and settle on a price, and even if the market price of the property grows in value, you still pay the original price at the time of the initial contract.

Time On Your Side

When you buy off the plan, one of the biggest advantages is the extra time you have to get things prepared before the property is finished.
You also have more time to finalise any loans, prepare your family for a move, or organise possible tenants if you aren’t going to occupy the property yourself.

Lower Repair and Maintenance Costs

The advantages of a brand-new property include less time and money spent on repairs and maintenance, and a longer period of time before such costs are necessary.

In contrast, when you buy an established property, you could potentially waste money getting the property up to standard.

The Sunset Clause

The “sunset clause” is the period of time your developer has to complete the building process. If the property is not completed within the time period, you can legally dismiss the contract and get your deposit back.

Tax Depreciation

When you purchase a property, you are eligible for tax deduction on any general “wear and tear” that occurs over time; this includes deductions on the building’s structure and permanent fixtures, and depreciation on plant and equipment assets.
You will usually need to hire a professional Quantity Surveyor to create a tax depreciation report for you.

Save Money

Between the time of initially signing the contract and paying a deposit and the time of completion, you have (usually) a year or two to save money, which means you can pay off a larger chunk of the mortgage and have lower monthly repayments.

Customisation and Choice

Unlike an established property, where you must “make do” with the types of properties available, off the plan properties give you more flexibility when it comes to location and design input.

This is great if you want more input into the location of the property, or want to merge two buildings together, or want to be able to customise certain finishes and fixtures.

An example of these changes is the placement of windows, doors, kitchen and light fixtures, or want to change the floor plan.

Of course, you will have to make these changes before the plans are completed, and you might be liable for extra fees if you change your mind after the finalisation of the original plans.

Why Is Box Hill A Great Place To Buy Off The Plan?

Buying off the plan in Box Hill is a great investment, especially for townhouses; compared with 9.6% of properties in Victoria being townhouses or semi-detached, these types of properties make up 34.2% of homes in Box Hill, according to 2011 census data from The Australian Bureau of Statistics.

The Multicultural Aspect

The residential area of Box Hill is a diverse, multicultural area, whose residents come from all over the world. According to the Australian Bureau of Statistics census data from 2011, 53.3% of Box Hill residents spoke two or more languages at home, and the most common ancestries were 26.7% Chinese and 16.6% English. The area is popular with international buyers, making it a competitive area to invest in. The suburb also features a Thai Buddhist Temple that can be visited by train, tram, or bus.

Great Food

If you like Asian cuisine (like dumplings, yum cha, curry, ramen, nasi goreng, sushi, or noodles) then Box Hill has plenty of restaurants to choose from. Popular haunts include the Shanghai Garden Dumpling, China Bar, and Gami restaurant. The Box Hill Central Shopping Centre boasts a range of diverse food options for different tastes. The Vegie Hut is also an option for vegetarians.
The Chinese New Year festival, hosted in late January, also has a great range of food to try.

It’s Easy to Get Around

There’s plenty of options for public transport in Box Hill, with trains, buses, and the tram route running from Box Hill to Port Melbourne.
For journey planning and timetables, see the Public Transport Victoria page.
Box Hill is 14km east of Melbourne’s CBD; by train, it takes approximately 38 minutes to the CBD, or 32 minutes by car. It is a one-hour bike ride for those seeking a healthier travelling option.

Lots Of Great Schools

According to 2011 census data, 60.4% of Box Hill properties are made up of family households, which means demand for schools is high in this area; luckily, there’s plenty to choose from.

Early Learning Centres

For families and students, Box Hill has plenty to offer. For toddlers and young children, there are multiple kindergartens and early learning centres, including St Peter’s Anglican Kindergarten with 4-year-old and 3-year-old groups; The Box Hill Early Learning Centre, for infant day-care, early years childcare, kindergarten and preschool; Goodstart Early Learning Centre which includes a nursery, toddler care, kindergarten, and vacation care; and the government-run Central Box Hill Children’s Services Centre for children 0-6 years.

Primary Schools

Primary schools in Box Hill include the St Francis Xavier’s Catholic Primary School; the Roberts Mccubbin Primary School in Box Hill South; and the QS School group.

High Schools

If you need a high school in the area, Box Hill has the Box Hill High School; the Box Hill Senior Secondary College, which has been recognised by the Department of Education and Training for its sport development program; the all-girls college, Our Lady Of Sion College; and the Kingswood College, which is available for kindergarten through to year twelve.

TAFE and University

For further education, Box Hill has a TAFE, The Box hill Institute, with a great number of courses in over 15 study areas, and a University of Divinity, the Yarra Theological Union.
There is also a Chinese Culture School in Box Hill.

Sport and Recreation Centres

Box Hill has a number of clubs and centres for fitness and recreation. The Box Hill RSL has lawn bowls, swimming, darts, snooker, and angling sports groups that meet up and have regular friendly competitions. The RSL also hosts movies, special interest groups, support groups, and great dining options in their bistro and on their Roof Top Bar, known as The Deck.
The Box Hill Golf Club are also popular places for those seeking some easy leisure and recreation.
Aqualink at Box Hill is an impressive aquatic and leisure facility, and during the early 20th century it became the first Olympic standard swimming pool in Australia. Services include indoor and outdoor heated pools, learn-to-swim programs, a warm-water therapy pool, a spring board diving pool, a high-tech gymnasium and group fitness spaces, café, tennis courts, outdoor soccer, and more.

Close To Hospitals

For many people, access to health care and hospitals is very important. Box Hill has two main hospitals, the Epworth Eastern Hospital and the Box Hill Hospital. The Epworth Eastern Hospital has a multitude of services, including a day medical unit and a Chinese speaking concierge. Box Hill Hospital is the largest of Eastern Health’s acute hospitals and features many great services, including a specialist clinic for outpatients and a variety of mental health services.

Leafy Streets and Beautiful Parks

Box Hill has plenty of greenery, and many streets are lined with overhanging trees, with a mixture of older homes and new developments. The largest and most popular park, Box Hill Gardens, is a central feature of the suburb, with picnic tables, a war memorial, BBQ spaces, playgrounds, a cricket pitch, duck pond, and lots of space to stretch out and relax. Sometimes there are musical events held in the gardens, and there’s plenty of space for family activities or get-togethers.
Other parks include Surrey Park and the Victoria Rose Play Space, with a great playground for kids.

Still Have Questions?

If you would like to find out more about off the plan purchases or buying townhouses off the plan, call us today to talk to an industry professional about your options.

Learn more about your options as a home buyer, or look at other townhouses and locations by browsing our website at your leisure.

Find out about off the plan townhouses for sale in Burwood East or in Mt Waverly.

Take your time browsing our website for more about off the plan purchases and buying in and around Melbourne.
Look us up on social media if you have any more questions or want to get in touch online or in person.

Off The Plan Townhouses In Burwood East: An Investment Opportunity For Families and Professionals

If you’re thinking of buying a townhouse just outside Melbourne city, then consider going off the plan. More and more people are switching to semi-detached dwellings like townhouses for several reasons (e.g. price, maintenance, resale value) and are buying these properties off the plan.

What Does ‘Off The Plan’ Mean?

An off the plan property offers you flexibility and affordability, but if you want your new home right away then off the plan is not for you. Buying off the plan means entering into a contract with the developer before the building has been fully constructed.

Buying off the plan means waiting for your new home – but also potentially saving money, having more input in the design process, and being eligible for stamp duty concession.

What’s The Process For Buying Off The Plan?

After choosing your townhouse, you will generally put down a deposit and sign a contract. You can stay up to date with your property’s construction process throughout the building period.

When the property is constructed, you will usually have an inspection to check everything is in order before moving in, and finalise any outstanding costs.

The construction period is useful for saving money and getting organised before the home is ready.

Questions To Ask When Buying Off The Plan

When buying off the plan, there’s a lot to consider: what the market is like, how much time you need, where you plan on buying, how much input you want to have in the design, location, layout, and floor plan, and what you can afford.

1. Why Should I Buy Off The Plan?

   • Market Value

     In buying the property at the earlier stage of the construction process, you could potentially end up owning a property that is worth a lot more after completion.

     As the market price of townhouses is inclined to increase, it makes sense to buy now and watch the value of your purchased property grow while you watch the physical property be built. You get the advantage of locking in the price at the current market value instead of the price at the end of construction, when the cost could potentially be much higher.

   • Time Is On Your Side

     The time it takes to build also provides you with the time to save money and prepare yourself for a move. You can save more money during the building process and won’t need to take out such a big loan. This equates to lower monthly repayments.

   • Have Your Say

     By investing before the property is physically created, you can have more of a say in terms of location, space, and design, especially if you have specific requirements for your new home.

   • Builder’s Guarantee

     As detailed by Consumer Affairs Victoria on their website here, the law in Australia makes sure your rights are protected when buying off the plan.

   • Stamp Duty Concession

     If you plan on living in your new townhouse, you are eligible for off the plan stamp duty concession. When you buy in the state of Victoria, you must pay stamp duty or land transfer duty on your property, which is calculated based on the market value of the property or the purchase price (whichever is higher).

2. How Do I Calculate Off The Plan Stamp Duty?

   Click the link to use the convenient calculator from the State Revenue of Victoria website to calculate your stamp duty.

   There have been some recent changes to how stamp duty works in 2017. Off the plan stamp duty concession for contracts entered after July 1st 2017 will only apply to you if you intend to live in their property. For more information, see the REIV webpage.

3. What Happens During The Settlement Period?

   By buying off the plan, you will have a greater time period between the initial contract and the settlement date. The settlement period is when you pay the outstanding balance of the property, receive your title deed and officially take ownership of your new home.

   For more information, check the Consumer Affairs Victoria page.

4. How Much Will I Pay As A Deposit?

   Usually the deposit for an off the plan property is approximately 10 per cent of the total price, with the remaining balance paid when the property is finished being built.

What Does Burwood East Have To Offer?

For those who want to live close enough to the city to get there when they want to, but far enough away from the smoke and skyscrapers that they can have some peace and quiet, then a suburb like Burwood East fits the bill perfectly.

Burwood East lies 17km east from the Melbourne CBD, in the state electorate of Forest Hill. This eastern suburb encompasses 4.3 square kilometres. Local history includes the traditional custodians of the land, the Wurundjeri Tribe, who occupied the land for around 40,000 years. You can read about the indigenous heritage here. The World Vision Australia National Office is also situated in Burwood East.

Burwood East is also the home of the Red Williams pear, developed by local orchardist Walter Mock in the 1930s, was so popular it was exported to Europe and North America.

1. A Family Lifestyle

   According to the Australian Bureau of Statistics, as of 2015, the population of Burwood East was 10,723 with a median age of 40. Families are a big part of the area, with 74.9% of houses being family households.

   Burwood East is safer than the average suburb in Victoria, according to RACV statistics.

2. Schooling

   Popular schools in Burwood East include Forest Hill College, Burwood East Primary School, Burwood Heights Primary School, and Blackburn English Language School.

   The high-ranking university, Deakin University, has its largest campus located in Burwood. The campus features multi-story car parks, a motion capture facility, art gallery, gymnasium, bookshop, library, and more.

   For parents of children with a moderate to profound intellectual disability, see the Burwood East Special Development School. The school has some great features, including a multi-sensory room, crafts centre, library, walking and bicycle track, playgrounds, a tranquil garden, and more.

   Part of Burwood East lies in the Mount Waverley Secondary College school zone, which can get competitive, as lots of people want to buy in these kinds of zones for the privilege of attending certain schools.
   Compare schools in Burwood East here.

3. Retail and Parks

   The Kmart store in Burwood One Shopping Centre was Australia’s first ever Kmart store, and it is still the second largest Australia-wide.

   There are a number of parks in the area with playgrounds and walking tracks. Burwood East parks include the Ballyshannassy Park, Burwood East Line Reserve Park, Witchwood Gully, and the East Burwood Reserve.

4. Public Transport

   Public transport in Burwood East includes buses, trains, and trams, with the Burwood Highway part of the Melbourne tram network. The Myki card is used on Victorian public transport as a touch-and-go system to make travel easier and quicker.

   An easy-to-use Journey Planner is available for those looking to use Burwood East’s trams and buses regularly.

5. Community Involvement

   Sports is important to many Victorians, and Burwood East is no different. The suburb features the Nunawading Basketball Centre, the Blackburn Cycling Club, the Burwood East Cricket Club , and the Burwood East Football Club , who compete in the Eastern Football League.

   There are several churches in the suburb, including the Burwood Heights Uniting Church, the Anglican Church of The Ascension, and the Crossway Baptist Church.

6. Pet Care

   The Burwood East RSPCA is the largest in Victoria, including adoption services, vet clinics, training, pet sitting, grooming, and more. They even have an Animal Ambulance service for emergency pet care.

What Are The Potential Downsides To Buying Off The Plan?

• The Waiting Period

  While some might prefer a waiting period to save money or give them more time to prepare, others want their home to be finished as fast as possible. Look for a sunset clause in your contract; the sunset clause will give you a time limit that the developer must adhere to when constructing your property.

• Development Delays

  In rare instances, development might be cancelled and you will get your deposit back, but not your time.

• It’s Not What You Imagined

  Since you won’t get to see and touch the physical property until it’s finished, you run the risk of it not being entirely what you imagined on paper – but in this day and age, with the increasing use of virtual imagery to show buyers their home in 3D, from all angles, the risk of being disappointed is quite small.

How Can I Find Out More?

There’s more to know if you’re thinking of buying off the plan in Burwood East. Learn more about your options as a home buyer, or look at other off the plan townhouse properties and locations by browsing our website at your leisure.

Find out about:

Off the plan townhouses for sale in Mount Waverley.

Call us to talk to a professional and get all the information. You can also find us on Facebook or social media.