Buying 'off-the-plan' simply means you're purchasing a home before it has been built, and there are a number of advantages and benefits to buying a home this way:
Lock in the cost: It gives you the unique advantage of securing a property at today's prices, with the potential for capital growth during the construction period.
Enjoy the process: It also allows you to be involved in the exciting process of seeing your home come to life – from initial plans, to the slab being laid, to the walls going up, to your finished home ready to move in.
The steps involved:
- Get your finances ready:
The first step is to talk to a lender or mortgage broker to get a home loan pre-approval. This will give you a clear budget for your purchase and help you understand your eligibility for government grants, such as the First Home Owner Grant (FHOG).
- Explore and select Your package:
Start by researching the different house and land packages available at Noarlunga. Take the chance to review the home designs, floor plans, and site maps to find the perfect fit. Our sales team is on hand to answer any questions you have and help you find the right option.
- Secure Your Purchase:
When you find your perfect match, you’ll sign a Notice of Intent form. Once approved, you’ll then pay a deposit, which takes the property off the market while the contracts are being prepared. For house and land packages, this usually involves two separate contracts – one for the land and one for the build. It is essential to have both of these reviewed by your conveyancer or solicitor.
- Watch Your Home Come to Life:
With the legal paperwork finalised, construction will begin. Your builder will keep you updated on the progress as your new home takes shape, moving from a concrete slab to a completed, ready-to-live-in home. Your home loan will be structured to release funds in stages as different parts of the build are completed.
- Final Inspection and Handover:
The final and most exciting step is the Practical Completion Inspection. You'll walk through your completed home to ensure everything is perfect. Once you’re happy and the final payment has been made, you'll receive the keys and can start enjoying your brand-new home in the Noarlunga community.
At Renewal SA, it’s our goal to make the process of buying a home at Noarlunga as smooth and enjoyable as possible. That’s why our highly experience sales team will always be on hand to answer any questions at any stage. Just phone 1800 965 250 – or email us at info@livenoarlunga.com.au