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Project Buyer FAQs

Maximising Benefits with Off-The-Plan Ownership with Marshall White Projects

Long-Term Peace of Mind

Building guarantees and appliance warranties are on offer for a 6-to-10-year period providing any buyer with long-term peace of mind.

Sustainable Development

Our developers have sustainability in mind when briefing the design team for any new development, including cost saving additions and saving our precious planet.

Personalised Living Spaces

Our developers offer customisation opportunities or bespoking allowing you to make personalised changes for most off-the-plan purchases. Enjoy your new home from the first day of moving in, without the need to then suffer through costly renovations or borrow additional monies to pay for it.

Transparent Pricing

Our off the plan apartment or townhouses will be at a fixed price rather than a quoted forecast range. Prior sales within the building also give our buyers social proof that the price on offer accords with market value.

Financial Incentives

Stamp duty savings and first homeowner grants. Depending upon your individual circumstances, buying off the plan could save you tens of thousands of dollars in unnecessary expenses and taxes. This allows you to borrow less and take years off your mortgage.

Extended Savings Period

Additional time to save. Often the time between the day of sale and a call to settlement will be in excess of twelve months. This allows you to save more, borrow less and pocket the difference.

Capital Growth Opportunity

In a rising market the time between buying your new property and settlement may allow for a period of capital growth. If you have a property you need to then sell, it may be financially beneficial to delay selling until you can potentially coincide the two settlements.

Brand New Living Spaces

Off-the-plan properties have never been lived in, ensuring a fresh start for homeowners.

Congratulations, your off the plan property search has come to an end and all the hard work has finally paid off . So, what happens now?

Initial Paperwork and Deposit

The completed paperwork goes off to either yourselves or to your nominated legal representative. Your agreed deposit will be placed in the vendor’s legal representatives trust account.

Milestones and Construction Commencement

There are numerous milestones along the way that should be communicated to you, these include;

If the tender process to appoint a builder hasn't already been completed at the time of your purchase, then the developer will carry this out and the successful builder will then be announced.

Once the building permits have been sourced from the various authorities, construction will then commence.

Variations and Customisations

If construction is either yet to commence or in its very early stages, you’ll be invited to provide us with a list of your requested variations, noting that not all purchasers request changes.

Quote Approval and Payment

Often this process can extend from weeks to months, as the project manager liaises with the builder to provide you with the quote for your requested upgrades. Then, prior to a specified date, you’ll be asked to approve the quote (or otherwise) and then remit payment directly to the developer.

Forecasting Completion and Settlement

Recent events tell us, that suggested forecast completion and settlement dates are typically best-case scenarios. Sometimes unforeseen circumstances such as COVID and supply issues will cause delays outside both the builders and developers control.

Settlement Assistance and Final Inspection

As construction continues, a settlement company will be appointed to then assist you with your journey through to settlement. As they come on board, they will reach out and provide you with the appropriate contacts going forward.

Their role includes a number of tasks, such as taking your valuer through your new property (if you're financing your purchase), coordinating your accompanied final inspection and detailing (with you) for any last-minute defects, that require the builders attention prior to you collecting the keys.

Financial Checks and Additional Support

During construction, it's prudent, for those financing their purchase, to check in regularly with your finance broker or banker, ensuring you're able to take advantage of the best finance options at settlement. It's also worth checking both the State and Federal Governments portals, to see what Government schemes and grants may be available to you.

Your selling salesperson will undertake to stay connected with you along the journey from sale to settlement. We have also listed key people from Marshall White Projects, who are also here to help, if required:

Conclusion and Further Assistance

Again, we take this opportunity to thank you for purchasing a brand-new property through Marshall White Projects. Should you have any additional property requirements, such as selling, buying, or leasing residential Real Estate, then we would be delighted to further assist.

Knowledge Is Power

Be fully informed prior to owning your new off-the-plan investment.

Downsizers - Frequently Asked Questions

Victorian Budget 2023-24 Announcements

The Victorian Budget 2023-24 includes a number of announcements related to legislation administered by the State Revenue Office.

The measures are listed here, along with their expected start date.

State and Federal Government Schemes for Off-The-Plan Purchasers

There are a number of State and Federal Government Schemes for Off-The-Plan Purchasers that you should be aware of as they could potentially save you thousands.

Click on the tabs below to see what’s available. Prior to proceeding you should always check with the relevant body first to see if you qualify.

First Home Owner

First Home Loan Deposit Scheme

First Home Super Saver Scheme

Foreign Purchasers

Off-the-Plan Benefits

Downsizer Superannuation Contributions

Victoria Homebuyer Fund

Can I bring my pet to my new home?

Most contracts of sales will have a clause referring to the provisions of an animal occupying a group of apartments or townhome.

It’s worth noting that Owners Corporations are limited in their scope to ban pets – and even when rules have been made to ban them, they have been struck down by VCAT.

Speak to your legal professional if you’re unsure.

When do I sell my family home?

Many of our downsizers are in the fortunate position of determining their own timing with regards to ultimately moving from their family home.

Those buyers who are risk adverse may choose to sell within the same market they purchased and then willingly make two moves.

Others will follow their new homes progress on our construction portal and then sell the family home closer to completion

It’s always prudent to talk to one of our local residential experts with regards to a market appraisal or simply discuss current market conditions.

Who's the appointed builder?

Often for a particular project the vendor is a developer rather than the builder, so a builder will need to be appointed.

Regularly the tender process for a builder’s appointment runs consecutively with a projects launch to the market.

If the tender process is still ongoing, ask to see the panel of builders on the tender list and then do your homework by looking at their experience either online or by driving past completed projects.

Downsizer Superannuation Contribution

Since 1 July 2018, eligible older Australians wishing to downsize have been able to contribute up to $300,000 into superannuation from the sale of their home. Existing contribution caps and restrictions will not apply to the downsizer contribution. This measure endeavours to free up larger homes for growing families. Find out more.

First Home Buyers - Frequently Asked Questions

Victorian Budget 2023-24 Announcements

The Victorian Budget 2023-24 includes a number of announcements related to legislation administered by the State Revenue Office.

The measures are listed here, along with their expected start date.

What am I entitled to as a first home buyer?

For Contracts entered into for buying or building a new home valued up to $750,000 on and from 1 July 2017 until 30 June 2020, you may be eligible for a First Home Owner Grant (FHOG).

(With an off-the-plan property, the total Contract price must not exceed $750,000 to be eligible).

If you are eligible for the FHOG and the home you are buying is in regional Victoria, you may receive $20,000. If the home is not in regional Victoria, the grant is $10,000.

Your new home can be a house, townhouse, apartment, unit or similar, but it must be valued at $750,000 or less and be the first sale of the property as residential premises. It cannot be an investment property or a holiday house.

However, for the stamp duty exemption/concession this is determined by the dutiable value for an off-the-plan property (the dutiable value is the contract price minus the construction or refurbishment costs incurred on or after the contract date). The dutiable value must be below $600,000 for the exemption, and a first home buyer duty concession is also available for a principle place of residence with a dutiable value from $600,001 to $750,000.

Investors - Frequently Asked Questions

What are the depreciation benefits?

Depreciation benefits are only applicable for investors. A quantity surveyor will prepare a depreciation schedule, then potentially allowing significant depreciation benefits to be then offset against your taxable income. For advice relative to your own personal circumstances we recommended speaking to your tax professional.

What's my estimated rental income?

Your Marshall White Projects salesperson will provide you with a forecast rental appraisal for your off-the-plan property.

It’s worth remembering that these estimates are at today’s market value and may vary at settlement.

It’s worth checking in during construction with our rental department and learn firsthand what the rental market is doing in your area.