Each stage varies in title times. There are several milestones that need to be achieved prior to titles being released and eventual settlement. Please refer to the Your Riverhills page for more information on each stage, the progress made and what milestones remain.
The deposit is traditionally 10% of the purchase price, but this may vary. Speak to our team to discuss what deposit options are available.
The balance of funds is due at settlement. There will be communications as certain milestones are achieved (e.g., Practical Completion, Statement of Compliance). In these communications, there are reminders to touch base with your financial institution as settlement approaches.
As per the State Revenue Office in Victoria, land transfer duty is calculated on the dutiable value of your property. This is the price you paid for the property or its market value, whichever is greater. Duty is calculated on a sliding scale, starting at 1.4% for properties valued at $25,000, and rising to 6.5% depending on the value of your property and when the agreement or arrangement for the transfer was entered into.
This amount may vary if you are a foreign purchaser or are entitled to any exemptions or visit the State Revenue Office website for more information.
An easement is a section of land registered on your property title which gives someone the right to use the land for a specific purpose even though they are not the landowner. An example is a shared driveway. There are also certain statutory easements which are not registered on your title, such as power or telephone lines, or drainage easements. If you wish to build over a statutory easement, you will need to get consent from your local council.
For other easements, you will need to get consent from whoever the easement is vested in. An easement should have no effect on the day-to-day enjoyment of your land. The important thing about easements is to be aware of them and know the terms of any which affect your property, so contact your legal advisor to be sure.
When building a new home, you control the outcome, especially when it comes to design, floor plan, colour palates and what budget you’re working to. As an investor it also provides peace of mind to stay up to date with rental requirements and has the benefit of stronger returns for future tenants.
A masterplanned community is designed to bring people together. As the name suggests, it is a community where every building and amenity is planned from the beginning of the project.
In most masterplanned communities, the parks, road maps, open spaces and design guidelines are developed to create a look and feel for the community – a place for homeowners to love and be proud of.
Riverhills is designed and built to nurture a lifestyle that is geared to the needs of families with facilities such as parks, wetlands, and bike and foot paths, as well as accessibility to local services and transport options. Design guidelines in place protect your investment and offer improved value by enhancing and ensuring the overall character of the development. The like-minded nature of our residents also enhances the feeling of community, making Riverhills a place where people love to live.
The Victorian State Government is currently offering $10,000 to eligible first home buyers who purchase a property for $750,000 or less. The purchase price includes the land and the contract cost for construction.
Details might change, so please check with your conveyancer, or visit the State Revenue Office website for up-to-date information.
The first step to obtaining finance is to speak to us. We work closely with mortgage brokers to assist you with your purchase. The broker will ask you to prepare you finances and budget before submitting any applications.
Alternatively, you can speak to any financial institution for more information. There are many online resources that can help you find out more about the process of obtaining finance.
The benefit of a mortgage broker is they have access to a plethora of banks and financial institutions, their loans, rates and offers currently available.
Some FAQs about brokers include:
The main difference is that a bank lender can offer you the product they have within their company. Whereas a mortgage broker can offer rates and products from various banks and financial institutions to best suit your situation. Mortgage brokers act as your advocate in negotiations with lenders.
To complete the property settlement, a solicitor or conveyancer is required. Your legal representative prepares all documentation, collate cheques or Pexa transfers and handles everything on your behalf. They also assist you with the paperwork involved in the transaction, including the contract of sale and Section 32.
Riverhills is located within the tranquil hills of Wollert, near Mickleham, South Morang, Mernda and Epping. There are amenities abundant, including Epping North Shopping Centre, The Village Wollert, Aurora Village and the upcoming Whittlesea Community Hospital. Riverhills is only 26km from Melbourne’s CBD and 30-minute drive to Melbourne Airport. You can view and download our amenities map here.