What To Consider When Buying Off The Plan In Mackay

Dixon Homes offer residents buying in Mackay the opportunity to build a brand new quality home with ease, but also a range of off the plan properties.  Buying off the plan is an option many prefer to choose because all of the hard work has already been done.  The location is chosen for its enormous benefits, the floor plan is designed to suit the property and the orientation of the home on the land is optimised. The interior of the property is also sorted with a level of quality that is bound to impress.  Of course there is also the stamp duty savings that can be significant and can be very important especially to a first homebuyer.

So if you are considering purchasing a property off the plan through Dixon Homes in Mackay, here are a few key elements to consider and an array of benefits that you will most certainly enjoy.

Establish a plan

Before entering into any financial contract, it is important to establish your financial position and create a plan. Update your budget and ensure you are clear about your borrowing capacity and get your accounts in order.  Having a clear picture of your income and expenses before you start will allow you to make the right decision.  There are plenty of lenders on the market each offering different loans, rates and inclusions so it pays to do your research, too.  It is also wise to seek independent advice from a legal representative.  You can never ask enough questions.

Cooling off period

Buying off the plan typically comes with a cooling off period.  This can vary, however it’s usually somewhere between three and five days.  This gives you just that little bit of breathing space in case you do change your mind. It also gives you time to seek answers from a financial advisor if need be.   It pays to avoid this situation though as there are occasions where contract termination penalties can apply. At the end of any cooling off period, you are legally bound to purchase the property.

A purchase deposit

To lock in your interest to buy a property off the plan, there is a requirement to pay a deposit.   This is typically 10% of the purchase price and it is held in trust until the date of settlement, upon which you are then required to pay the remaining balance.

Property inclusions

As with any purchase, it is important that you clearly understand exactly what your money is buying.   You are entitled to receive a detailed and complete list of all of the inclusions that come with your property as standard features, as well as what is not included.

Inclusions can be anything from fittings to colour schemes and even some appliances depending on the promotions or offers available at the time.  Floor coverings are also typically a standard inclusion.  Ensure the list of inclusions is detailed and leaves no room for assumptions.

Just as important as inclusions, are the exclusions.  Your contract of sale will note what is not part of the purchase.  It is common for landscaping to not be included and there could be additional costs for upgrades to a higher standard of quality fixtures and fittings.

Benefits of buying off the plan

There are plenty of reasons why buying off the plan is a popular choice, particularly for first homebuyers.

  • Time – Buying off the plan allows you more time between the payment of a deposit and settlement to save money, plan to move and get yourself in order.
  • Price – When you purchase off the plan, you are effectively buying a brand new property at today’s prices.  When you eventually move in though at a point in the future, the value of your property will have already increased, meaning you will have already made money. This capital growth is a fabulous bonus.
  • Customisations – Whilst an off the plan property will already have been designed, you will have the ability to customise floor plans and finishes from a given range made available to you.  This allows you to select a colour scheme you prefer and even upgrade your appliances or benchtops to a higher quality if you prefer.  Depending on the structural constraints of the property too, there could be the opportunity to even slightly customise the design.   This is where is it is important to ask questions before you sign on the dotted line.
  • Warranty – All new homes in Australia come with a seven-year builder’s guarantee.  Dixon Homes offer customers even more with the Dixon Warranty that surpasses all expectations.  Spend time with a designer to ascertain exactly what additional features you are entitled to; this is where the Dixon Difference comes into play and you will be impressed.

Buying off the plan offers Australians an incredible opportunity to get into the housing market and secure for themselves a quality property.  Dixon Homes build a variety of off the plan homes that are suitable for a range of lifestyles and budgets.  Don’t forget too that the Great Start Grant is a Queensland Government initiative to help first homeowners to get their new first home sooner. You’ll get $15,000 towards your purchase (valued at less than $750,000). To enquire more about the eligibility criteria, chat to Dixon Homes today.

If you are not sure where to start and need help before you consider buying in Mackay give Dixon Homes a call.  A chat to the design team will give you the answers you seek and you will be provided with a wealth of opportunities and information. Take time to browse the local showroom and you’ll see for yourself exactly what is on offer as far as inclusions and quality.

For over 50 years Dixon Homes have helped Australians make their property-owning dreams come true.  The process is simple, and more rewarding than you may have ever imagined.

Buying a new home in Mackay, off the plan, comes with a huge range of benefits.  Just make sure you surround yourself with experts to guide you and be comfortable to ask questions so that the process is clear.

Contact Dixon Homes today to make your dream of buying in Mackay a reality.