The Buying Process
Congratulations on deciding to make the move to a Lendlease community.
Lendlease is committed to creating the best places for you and your family. This guide has been designed to help ease you through the required steps from paying your initial holding deposit, right through to becoming a resident. This is an exciting time for you and we look forward to seeing your new home take shape and meeting you at one of our community events in the near future. Should you require any further information or assistance at any stage, please do not hesitate to contact the Lendlease team.
Building or buying a home can be an intimidating process, particularly if you're a first home buyer. However, like any seemingly daunting task, buying a home becomes manageable if you break it into smaller steps.
We have created an easy step-by-step overview of the buying and building in a Lendlease community, whether you're buying land, a home and land package or a spec home.
Step 1 – Seek Financial Advice
Before making the final decision to buy, speak with a financial advisor to understand your options.
Step 2 – Secure your block, home and land package or home
Although this process differs slightly depending on what you’re buying, generally you will be asked to sign a contract and provide a deposit when your finance is approved. Before you sign, you should have a solicitor look over the contract.
Keep in mind that there are fees involved in buying a house, including government stamp duty, property searches, legal fees, mortgage insurance and finance loan fees. One of our Sales Consultants can help you understand which extra costs you need to pay.
Step 3 – Contract unconditional and Transfer of Land
Once finance is approved and the conditions of your contract are met, your contract becomes ‘unconditional’. This means you’re able to proceed with the contract. Your solicitor now needs to inform our solicitor of this on your behalf.
Step 4 – Design and Siting Requirements
To maintain standards in your Lendlease Community and protect your investment, all homes must comply with the Design Guidelines. Spec homes and home and land packages can be pre-approved, but generally the builder will need to submit your plans to our Design Support Team for approval.
Step 5– Keeping you in the loop
The time between when you sign your contract and settlement can vary. We’ll send you regular project updates to your email inbox to let you know how things are progressing. During this time, we’ll also send you updates about our community and events to help you get excited about your new home.
Step 6– Settlement
Things are really happening now! Make sure you put your settlement date in your diary.
On the settlement day, you need to pay the remaining balance of your purchase. To avoid any disappointing delays, make sure that funds are available from your financial institution before your settlement date.
Once all the relevant mortgage documents are signed, the land title will be transferred into your name.
Step 7– Construction
Now that your block of land is registered and your plans are approved by our Design Support Team, your builder will then submit the plans for building works and plumbing approval. Once approved, the builder can start construction.
Most builders require progress payments, usually at five stages: slab down, frame up, roof on, lock-up and practical completion. Your financial institution can arrange these payments for you.
Safety is very important during the construction process. Your builder must comply with workplace health and safety regulations, and they’ll let you know when it is safe to go on-site. It’s important that you don’t take a sneak peak during construction without your builder present!
Your builder should keep in regular contact with you during the build, but you can always Contact Us if you have questions.
Step 8– Welcome
Your home is now ready, and it’s time to move in. At Lendlease, we know that moving into your new home is exciting, and we want to make your welcome memorable.