1. CAPITAL GROWTH
Land prices in many new land estates have been rising by at least 20% p.a. For example in the Cornerstone estate in Werribee a 400m2 lot in August 2016 was priced at $194,000. In August 2017, the same sized lot was selling for $258,000, which is an increase of 33% over 12 months.
In the Aston estate in Craigieburn, a 400m2 lot in August 2016 was selling for $257,000. In the August 2017 release, the same sized lot was selling for $333,000. That’s an increase of 29.6% over a 12 month period.
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2. AFFORDABILITY
Despite the rising prices, Melbourne is still very affordable compared to Sydney with packages starting from mid $300,000's for a 3 bedroom house. For these prices you will struggle to buy even a 1 bedroom unit in Sydney but in Melbourne you can stretch your money a lot further.
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3. LIFESTYLE
It’s not surprising that Melbourne has been ranked as the world’s most liveable city for the 6th year in a row. The rankings are based on Melbourne scoring high points for its healthcare, education, stability, culture, environment and infrastructure that had it receive the highest honours.
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4. POPULATION GROWTH
Melbourne is the fastest growing city in Australia and by 2050 will be the largest city overtaking Sydney. Melbourne’s current population of 4.5 million people is set to almost double to over 8 million people by 2050 with an average of almost 2000 new residents moving there each week. This kind of growth will increase the demand for housing, which is positive news for property investors.
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5. DEPOSIT
Purchasing a house & land package can be a great way to enter the market with a lower deposit. Deposit is usually 10% of the land price and 5% of the build price. Some estate developers also accept a 5% deposit on the land. If the land is not currently registered then this will give you extra time to save up a higher deposit until it gets registered.
We can assist you in finding land with long registration dates to help you delay settlement and save up more. However if you have the required deposit available then we can put together a package with land that is already registered.
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6. STAMP DUTY SAVINGS
Buying a house & land package can help you save quite a lot of money on stamp duty. Since the house hasn't been constructed yet, you will be paying the duty on the land price only. Whereas if you purchased a completed property then you will be paying stamp duty on the full purchase price.
In Melbourne for a package that is worth $450,000, where the land component is $225,000, the duty will be $9,307. However if the house was already built then the duty payment would be $23,333. That’s $14,206 that you can put towards the deposit instead of stamp duty.
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7. DEPRECIATION & TAX
Depreciation benefits can be more significant in a brand new property and could allow you to claim a higher tax deduction. After the May 2017 budget, the government disallowed claiming of depreciation for plant & equipment for second-hand properties. However brand new properties were exempted from this rule and full depreciation can be claimed on your new investment property.
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8. MAINTENANCE
Just like anything new, a new property will usually have less maintenance costs as you don’t need to fix or replace anything soon. The last thing you want as an investor is to constantly get calls from tenants asking you to fix things or as an owner-occupier taking days off work to attend to maintenance issues.
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9. PRICE & CHOICE
Masnar Properties can provide you with a turnkey fixed price package in any land estate in Melbourne. We only use well known and reputable builders to build your next home or investment property to ensure you get a great quality house and have peace of mind. We cater to all different budgets, land and house size requirements. Whether you need a big house on a big block or a small house on a small block, we can make it happen.
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10. OUTSTANDING SERVICE
Masnar prides itself on putting our client’s interests first and providing you with the service you deserve from the initial phone call right through to settlement and beyond. We will do this through our outstanding communication process, providing you with regular updates during the buying and construction stages. You don’t need to constantly chase up the builder for updates as we do all of that for you and we are always available to answer any of your questions.
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11. ADVICE
We only recommend you purchase a property when you are financially ready. That's why we have brought a bunch of finance experts on board who will analyse your financial situation and make sure you are able to afford the property before you purchase it. We will advise you on the best strategies to use to finance your property and how to stretch your deposit to enter the market earlier than you thought was possible.
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Although Melbourne is our preferred city for investment, if you however need a house & land package anywhere else in Australia then we can definitely assist you as we have access to over 200 land estates in many cities. We also specialise in brand new and off-the-plan townhouse and apartments with access to over 400 developments in most Australian cities. We have a wide range of price points for our apartment and townhouse developments to suit all budgets.
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Below are the starting prices for a 3 bedroom House & Land Package in other cities:
Brisbane and Perth: From mid $300,000's.
Gold Coast: From low $400,000's.
Sydney: From mid $600,000's.
Newcastle: From mid $400,000's.
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The buying process includes:
STEP 1
Phone assessment to make sure you are financially ready to purchase a property.
STEP 2
Face to face meeting or via online video conferencing to discuss your goals and property requirements in detail.
STEP 3
Recommend a property based on your requirements and ask you to complete an expression of interest form to reserve your chosen property.
STEP 4
Finalise the contracts and the payment of the deposit.
STEP 5
Apply for land and construction finance approval if the land is registered and if it is not then apply for approval near the date of registration.
STEP 6
Land settlement takes place.
STEP 7
Construction commences.
STEP 8
Construction is complete and you move in to your new home or rent it out if you are an investor.
STEP 9
We will perform a review of your situation every 6-12 months depending on what you have purchased and your goals to help you grow your portfolio further.
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If you are interested in purchasing a home or investment in Melbourne or anywhere else in Australia, then please leave your details by clicking the Contact button below and one of our property consultants will contact you to discuss your requirements.
We look forward to your enquiry.