The benefits
of buying
off-the-plan

Buying a house and land package has many benefits, particularly if you are a first home buyer. So, we have put together our top five benefits for buying off the plan:

1. Savings – no stamp duty on new builds
2. Convenient – we provide the house and land as a package which streamlines the build process
3. Fixed price – you know what your financial commitment will be
4. Management – leave the building management to us
5. Extra time to save – knowing there are future releases at Oaklands Green gives you extra time to save if you need it

At Oaklands Green we’ll be with you every step of the way.

We’ve also prepared a simple guide to the process of buying your house and land package at Oaklands Green.  You can download it here.





No stamp duty on new builds

The state government recently axed stamp duty on new builds for all South Australian first home buyers.

This means that first-home buyers in South Australia who build or buy a new home will get a $15,000 grant and avoid paying any stamp duty, regardless of the value of the home.The measures will apply to first-home buyers who purchase a new home, an off-the-plan apartment, a house and land package or vacant land to build a new home.

This is great news for anyone interested in making Oaklands Green home!



As always, at Oaklands Green we’re here to guide you through the buying process. Just email our Sales Director, Richard Joy on richard@oaklandsgreen.com.au to find out more.

To keep up to date with the Oaklands Green news, be sure to follow us on Facebook and Instagram.

Do you buy new, or established?

 

It’s all good news when it comes to buying new

When it comes to finding the perfect place to call home, or investing in real estate, the choice between buying new, off-the-plan, and an established property is worth careful consideration.

We’ve put together a list of benefits for first home buyers, investors and those seeking a modern home when considering purchasing a house and land package or apartment, over an established property.

 

Growth Areas

These are typically characterised by increasing demand and development, which often leads to rising property values. By purchasing off-the-plan, you can secure a property at today’s prices and potentially benefit from substantial capital growth by the time the property is completed, and the keys are yours.

 

Depreciation Benefits and Tenant Appeal for Investors

For astute property investors, purchasing off-the-plan offers a multitude of financial advantages. One key benefit is the potential for substantial depreciation benefits. New properties often come with modern fixtures, fittings, and appliances that can be claimed as tax deductions over time. Speak to your accountant about how this depreciation schedule can result in significant savings, potentially reducing overall tax liability.

On the rental market, new homes often hold a distinct appeal for potential tenants. The idea of residing in a brand-new home, equipped with the latest amenities, can be highly appealing, resulting in shorter vacancy periods and potentially commanding higher rental yields. New properties are also likely to attract a broader tenant demographic, from young professionals to busy families seeking
comfort and convenience.

 

Warranty and Low Maintenance Costs

One of the most notable advantages of purchasing a newly-built home is the peace of mind of knowing any building defects which may surface are backed by a warranty, with no additional costs to the owner. Having minimised maintenance costs is an added bonus for owner-occupiers and investors alike.

 

Government Incentives and Stamp Duty Savings

First home buyers can reap significant benefits by choosing to invest in off-the-plan purchases. South Australian Government incentives such as the First Home Owners Grant can provide a considerable financial boost (up to $15,000) to first home buyers.

Another great benefit to purchasing off-the-plan is it can also lead to substantial savings in terms of stamp duty. RevenueSA offers Stamp Duty First Home Buyer Relief – which may reduce your stamp duty to zero if the cost of your new home is below $650,000.

 

 

 

Modern Living and Contemporary Design

Buying new lets you immerse yourself in modern living. Today’s new homes are designed with the latest architectural trends and technologies, accommodating the evolving needs and preferences of homeowners. From open-plan layouts that encourage social interaction – to energy-efficient features that reduce utility costs – new properties incorporate our contemporary lifestyle.

 

Design it Your Way: Customisation and Personalisation

Whether you’re an aspiring Interior Designer or simply want to experience the touch and feel of your very own new home, buying off the plan allows you to add the final touches.

This advantage extends beyond aesthetics. Personalised design allows for practical considerations such as optimising the use of space, and adapting the property to accommodate future needs. The result is a home that not only suits the homeowner’s preferences but also enhances their quality of life in a tailored and meaningful way.

Choosing between buying a new, off-the-plan home, and an established property is a big decision in the home buying journey. From the financial benefits that attract investors and first home buyers, to the interest of modern living and the freedom of customisation, buying new offers a wealth of advantages that make it an appealing choice for those seeking to invest or reside and an option well worth exploring.

 

As always, at Oaklands Green, we’re here to guide you through the buying process. Just email our Sales Directors, Richard Joy and Annie Bauer. To keep up to date with the Oaklands Green news, be sure to follow us on Facebook and Instagram.

Construction Begins!

Oaklands Green construction has officially commenced!

 

 

L-R: Member for Boothby, Louise Miller-Frost, Human Services Minister, Nat Cook, Member for Gibson, Sarah Andrews, Housing Renewal Australia (Oaklands Park) chair, Trevor Cooke and City of Marion Councillor, Matt Taylor

 

 

Housing Renewal SA chair, Trevor Cooke addresses the media and guests at the official ceremony

 

 

Housing Renewal SA’s Trevor Cooke and Matt Clemow (middle) with SA Housing Authority Acting CEO, Nicholas Symons, reviewing the site plans

 

 

The site works at Oaklands Green were officially marked with a formal announcement on Wednesday, January 17 where project partners and dignitaries came together to turn the soil and celebrate the commencement of site works.

 

It’s a major milestone for Oaklands Green – SA’s largest urban renewal project, with more than 680 new homes planned.

 

Led by South Australian developer Housing Renewal Australia (Oaklands Park), the Oaklands Green project will transform a 16.5-hectare site between Barry Road, Bombay and Doreen Streets adjacent to the electrified Seaford train line.

 

Rivergum Homes has already commenced construction on the first 28 of the one and two storey dwellings, which have been released to the market over the last year.

 

Human Services Minister, Nat Cook, says the Oaklands Park renewal is part of building a strong community while offering choice and diversity in housing.

 

While Minister for Boothby, Louise Miller-Frost, says that Oaklands Green is an innovative development that will provide affordable housing solutions in the area for years to come.

 

Oaklands Green represents an innovative partnership between SA Housing Authority, Junction and Housing Renewal Australia (Oaklands Park).

 

And while the project will unlock critical land and housing supply for South Australians, green space in Rajah Reserve will be doubled and new green spaces added.

 

It’s a project that has the community and the environment in mind.

 

 
To be kept up to date with the Oaklands Green project and be the first to hear of upcoming releases, register your details here.

Top Ten Tips for Buying a Home

Buying a home is one of the biggest decisions most of us are likely to make. And for some it can feel a little overwhelming.  So to help ease some of the pressure, we’ve put together our top ten tips to help you navigate your way to home purchase happiness!

 

1. Do your home loan research 

When it comes to researching home loans, don’t just go for the first home loan you find without comparing it to others on the market. Take the time to look at loans offered by various lenders – even if it means going with a lender that isn’t your usual bank.  

A mortgage broker also can help alleviate some stress by guiding you and offering mortgage solutions that suit your needs and budget.

Remember – the lowest interest rate isn’t always your best option, and a mortgage broker can help you find the one that is (more on this in a moment).

 

2. Give yourself plenty of time to save for a deposit 

Your home loan deposit will likely be the largest expense you pay upfront when buying a home. The beauty with buying a house and land package off the plan is that often the deposit is smaller and the construction time gives you some breathing space and maybe some time to save a little extra money to go towards your mortgage.

Remember – your home loan only becomes active when your financial institution transfers the remaining funds for you to purchase your home, and this happens at ‘settlement’.

 

3. Make sure you save enough for your deposit 

In most circumstances, a 20% deposit is standard when it comes to buying a property. So, if you want to purchase a $500,000 property, a 20% deposit would be $100,000.

Some lenders will accept a smaller deposit but may charge Lenders Mortgage Insurance (LMI) to account for the risk. Your mortgage broker or bank can talk you through this option.

Remember – depending on the type of property, there a number of additional costs involved in buying a house. Your mortgage broker will be able to explain each of these.

 

4. Get your finances into shape 

In addition to saving up a home loan deposit, it’s important to make sure your finances are in order.

Lenders prefer to lend to borrowers who are financially stable. This means that they’ll comb through your financial records, including your bank statements and credit score. 

In the months leading up to applying for a home loan, try to keep your expenses sensible so that the lender has no reason to hesitate in approving you.  

Remember – if you are a working couple, your home loan lender will likely look at both of your financial records.

 

5. Figure out what you want and need in a property 

When buying a home, whether it’s an investment property or where you intend to live, it’s good to have a clear idea of what you are looking for.

Create a list of features in a home that are essential, as well as ‘nice-to-haves’ and anything else you’d like to avoid.  

Remember – think ahead. If you’re planning a family, do the houses you’re looking at have the room for an extra little person; are they near childcare and school facilities; are they close to playgrounds and parkland?

 

 

 

6. Get home loan pre-approval so you can buy with confidence 

Pre-approval is a formal indication from a lender that they are likely to approve you for a specified loan amount.  Mortgage pre-approval is conditional, so the lender could still choose to decline your formal loan application.  

Pre-approval helps you get a realistic idea of what your property budget actually is. This way you don’t waste time on homes outside of your price range and can confidently submit offers on a house. 

 

How much is home loan pre-approval and how long does it last? 

Pre-approval is typically free and is limited to a period of between 3 and 6 months in most cases. However, many lenders will approve you for an extension if you request one before the end of this period and your financial circumstances haven’t changed. 

Remember – borrowers with pre-approval are often seen more favourably by vendors as it suggests that the settlement process could be faster. 

 

7. Speak to a mortgage broker 

You can get a lot out of speaking to a mortgage broker. In addition to doing a lot of the hard work for you, they’re also on hand to answer your questions and guide you through the loan application process.  

They can speak to lenders on your behalf and find home loans that could be a good fit for you.  To provide potential recommendations, they’ll get to know you and your needs. There are so many home loans out there and not all of them will be suitable for you.  

Remember – in some cases, a mortgage broker can actually barter with lenders on your behalf. It depends on your circumstances and market conditions at the time. But at the end of the day, lenders are in the business of lending, and if you fit their criteria, they will sometime make concessions to sign you up – and it’s you brokers job to barter those concessions.

 

8. Find out if you’re eligible for government buyer assistance schemes 

Did you know that there are a number of government schemes aimed at helping first home buyers own property sooner? 

Some of these schemes include: 

  • First Home Owners Grant
  • First Home Loan Deposit Scheme 
  • Stamp duty concessions and exemptions (state-based) 
  • Shared Equity

Remember – once again, your mortgage broker is one of the best people to talk to about your options for government assistance. Our Oaklands Green Sales Team can also provide general and helpful information.

 
9. A home loan is more than just its interest rate 

It may sound obvious, but it’s important to consider more than just the interest rate when choosing a home loan.  Yes, getting a competitive interest rate is important but what else should you consider? 

  • Fees: some lenders charge administrative fees on their home loans which can increase your home loan repayments 
  • Features: see if it’s worthwhile to you to get a loan feature like an offset account or redraw facility.   
  • Customer service: the level of service provided by the lender is also important to consider, along with how well they keep customers informed of changes. Read lender reviews or ask around for word-of-mouth recommendations. 

Remember – having a long-standing relationship with one financial institution can be beneficial. They might be keener to reward your loyalty with reduced fees or other concessions. Again, this is something for your mortgage broker.

 
10. Buy at Oaklands Green! 

You’ll find that Oaklands Green meets all of the advice mentioned above. Being one of the largest urban renewal developments in the country, the development offers lots of options for all kinds of buyers with different needs. And when complete, will provide a wonderfully green and connected community in one of the best locations in SA.

 

 

 

With its house and land packages proving to be extremely popular, it would be well worth speaking to our Sales Director, Richard Joy on 0439 504 440 to discuss your options. To keep up to date with the Oaklands Green news, be sure to follow us on Facebook and Instagram.

Four things to keep your home in tip top shape

While some trends come and go, quality never goes out of style. Here are 4 must haves you shouldn’t skimp on in your new home.

 

Home is where you spend most of your time – a place of pride and joy and where you relax at the end of the day. And while there are things in the home that can be fine to pay less for like photo frames, indoor plants or cushions, some things are just too important to take a chance on, like your insurance. So, don’t skimp on the things that help make your home a sanctuary.

 

1. Furniture

You’ll be spending most of your time using your furniture, so look for items that are comfortable, durable, stylish, and long lasting.

Items like a sturdy couch with proper support, your bed, a quality mattress, a well-made dining table, are all worth the investment. Even if it goes on Facebook Marketplace a few years later, you know you’re going to get a better price and more clicks on items of quality.

2. Appliances

Essential appliances like your fridge, washing machine, microwave and stove will be used regularly, so look for quality products that are reliable, energy efficient, and will last in the long run. At Oaklands Green, high quality, energy efficient quality ovens and dishwashers are included in your house and land package price.

 

 

 

3. Home security and safety

Your home is filled with your loved ones and prized possessions, so it’s important to keep it safe and secure. Whether you’re looking to invest in a doorbell with a camera, quality locks, gates and fencing, or even a home security system with cameras and sensors, safety is one cost that is important to consider.

4. Home insurance

Home and contents insurance is a key element to consider when owning a home and it’s important to do your research.

It’s worth choosing an insurer you can trust and one that offers cover that will suit your needs. Make sure you read the fine print too!

 

 

As always, if you have any questions about your new home at Oaklands Green, feel free to speak with our Sales Directors, Richard Joy and Annie Bauer. To keep up to date with the Oaklands Green news, be sure to follow us on Facebook and Instagram.

Solutions to saving for that elusive deposit

For many first home buyers, the time it takes to save for a deposit is the biggest barrier – but it needn’t be

 

With the rising cost of living having a direct affect on so many aspects of our lives, it’s no surprise that housing affordability is as its worst level in decades. Which is why so many new home buyers are looking at the best value options on the market – and that’s where Oaklands Green scores highly.

But there is still that hurdle every buyer faces, no matter the location, and that’s finding the initial deposit.

In times gone by, it would often be parents that helped their children get their feet on the property ladder. But this is becoming less and less of an option due to a whole range of changing demographic dynamics. Today, most new home buyers need to fend for themselves and find their own deposit.

 

So how much are we talking about?

 

Until recently, the rule of thumb for a deposit was 20%. This was seen as an amount that relieved a bit of pressure on the home loan provider, and meant the buyer wasn’t over committed to making loan repayments on the full cost of the home. Of course, a larger deposit means lower monthly repayments and the chance to pay off the loan sooner, and live mortgage free (wouldn’t we all just love that!).

However, this 20% figure has been relaxed somewhat, and some lenders will accept 15% or even a 10% deposit. But it may mean you will pay a slightly higher interest rate and will almost certainly mean you will have to take out Lender’s Mortgage Insurance, which will add to the cost of your loan.

 

Help is at hand

 

Both the Federal and State Governments are aware of the housing issue, and are continually finding ways to help make the process easier for those seeking to buy their first home.

One of the best places to look for assistance is HomeStart. This is a not-for-profit state-run agency that provides a range of home loans at highly competitive interest rates to suit a variety of buyers’ circumstances – especially around their ability to find the initial deposit.

HomeStart also offers a Shared Equity package, where you share the profits and any potential losses of buying your home with the government – they are effectively your partner in buying your home.

 

So where to from here?

 

At Oaklands Green, we are all about getting you into a home that you own – first and foremost. And thanks to our Sales Agents’ experience in dealing with the various Government assistance schemes, our knowledge is second-to-none.

So, if you have any questions at all about buying at Oaklands Green, our Project Team Leader, Richard Joy, is always on hand to help.

If you’d like to organise a catch-up with Richard, just give him a call on 0439 504 440, or email richard@oaklandsgreen.com.com.au.

 

 

To keep up to date with the Oaklands Green news, be sure to follow us on Facebook and Instagram.

What’s important to us since the pandemic

How COVID has changed our perspective on what our home means to us

 

Reports suggest, that because of the pandemic, we’ve seen 10 years change in just two years.  Digital technologies have fast-tracked conversations around remote living and working, flexible lifestyles, mental health and our overall wellbeing.

 

In fact, everything is changing, from the way we shop to the way we communicate. And because of this, there are new priorities when it comes to our home – Australians now prioritise wellbeing as one of their top priorities.

 

So, here’s our top six ways of making your home a wellbeing haven:

 

1.Balance work and relaxing space

If you work from home, try to set aside a designated space for work.  You could even use plants or lamps to zone off an area for working.  And if you can’t do that, ensure you switch off at the end of the workday to encourage rest and reduce stress.

 

2. Make the most of natural light

Encourage natural light into the home as much as possible – it helps the body produce Vitamin D.  So, leave the curtains open when you can to get that healthy boost!

 

3. Cut down on chemicals

Try to reduce the use of chemical-heavy detergent and cleaning materials and choose natural alternatives that are kinder to your skin and general health.

 

4. Keep it neat

A neat home works wonders for our mental clarity and overall health.  We know it’s easier said than done sometimes, but investing in some low-cost storage items helps enormously when it comes to hiding things away neatly.

 

5. Buy some indoor plants

It’s scientifically proven apparently – houseplants not only look beautiful, but they can also improve your health and wellbeing too.  And don’t forget a couple of pots outside too – they also are mini stress busters.

 

6. Soak away your worries

Create a mini haven in your bathroom.  Invest in fluffy towels, an extra soft shower mat and some essential oils – maybe even add some relaxing music.  There’s nothing like a warm shower to wash away your worries!

 

So, while our home was always where our heart was, the idea of our home being our sanctuary has only intensified since COVID.  Which means it’s more important than ever before that our home prompts positive emotional benefits.

 

If you are looking for your new sanctuary and a fresh start at Oaklands Green, please contact our Project Team Leader, Richard Joy via mobile 0439 504 440, or email richardj@connektup.com.au.

 

 

 

 

To keep up to date with the Oaklands Green news, be sure to follow us on Facebook and Instagram.