Why an "Off the Plan Purchase" rather than an existing home?
Important information to share first
Before setting out to buy a home and land package, you need to understand the differences you will experience.
All home and land packages on this site are based on an entry level land price for the estate mentioned and standard site costs and BASIX are applied to the price of the specific design. The price is based on a level site with services within 10 metres*
Use the website as an excellent guide to assist in researching estates and home designs. Please direct your enquiry to our home and land specialist for more details.
About the NSW New Home Grant Scheme
The NSW New Home Grant Scheme offers $5000 towards the purchase of new homes, homes off the plan and vacant land on which a new home will be built. For more details on the scheme and eligibilty, download the document below:
NSW New Home Grant Scheme
The Regional Relocation Grant
The Regional Relocation Grant offers $7000 to people selling a home in a metropolitan area and purchasing or building a new home in a regional area. For more details on the scheme, council areas and eligibility, download the document below:
Regional Relocation Grant
How the process works
Step One - Land Purchase
After you have a finance figure from your lender for a home and land, you can negotiate the land price, we can assist you "Free of Charge" in this process.
The price is agreed to and the land agent sends a sales advice to your legal representative to prepare contract details for the purchase to take place.
You meet at your legal representative office and read over the contract and if you are happy to move forward, you pay either a 5% or 10% deposit and agree to settlement terms. You then sign the contract with view to exchange. A 5 day cooling off period is generally provided.
Settlements usually take place 4 to 6 weeks after you exchange the contract, this is when the balance of funds are paid and your land payments begin.
Congratulations you have your block of land.
Step Two - New Home
While the land is going through McDonald Jones Homes prepares a tender with all your details nominated for the lender to arrange the construction loan.
On acceptance of the tender, $3000 is paid to McDonald Jones so that planning your new home can commence. This amount forms part of the building agreement and is credited off the contract amount.
Whilst the plans are going through the pre-construction process, you'll be invited to our office to complete your colour selections with our experienced colour and design consultant. We also have pre arranged schemes for investors or time poor clients.
Once we receive the plans approved by council and your lender has provided details that you've signed all the lenders mortgage documents, construction can begin after materials and trades are arranged.
You are on your way to a new home.
Note: Please refer to our consultants for time frames relevant to your situation and location.
Disclaimer: McDonald Jones Homes and our partners have used reasonable endeavours to ensure information provided on this website is correct at the time of publishing. McDonald Jones gives no warranty to the accuracy of such material published and we suggest interested parties read the conditions set out on the appropriate off the plan package. The website is to be used as a guide to pricing and package details and any interested parties should make their own enquiries to our office for further information.
McDonald Jones Homes encourages purchasers seek independent finance, legal and/or accounting advice before embarking on the purchase of a property.
Click here to visit the McDonald Jones Homes website.
NB. Any financial information is given only as a guide and professional advice should be sought from a Solicitor or Financial Advisor.