What you need to know about buying within a Lendlease community
Thinking of buying land to build your dream home within a Lendlease community? Join us as we take you on a journey through the process of building your home at Kinma Valley, with plenty of helpful steps and tips along the way.
Are you considering buying land and building your dream home with Lendlease, but don’t know where to start? We recently spoke with Kinma Valley Sales Consultant, Jamie Martin, about the process of buying and building within a Lendlease community.
"Buying and building in a Lendlease community is a unique process, but it doesn't have to be complicated," Jamie said. "We are here to guide you through the steps to bring your dream home to life."
“We know that buying a home is one of the biggest and most exciting decisions you’ll make, so we have created a step-by-step guide to the sort of choices you’ll need to make, and what happens next.”
First, decide what your dream home looks like
There are three ways you can choose to purchase at Kinma Valley, Lendlease’s new masterplanned community in the Moreton Bay region. It is important to remember that this information is general in nature and does not take into consideration your personal circumstances and finances, so it’s best to speak to our friendly sales team and seek independent advice to learn which options are available and best suited to you.
These options are:
Option A. Buy a block of land and build your home
The most flexible option of the three, this allows you to choose your own builder and home design, so long as it aligns with the community’s design guidelines. “If you choose this option, and are ready to buy, we recommend you register your interest to be added to our database to be among the first to know about current and future land releases,” Jamie said.
Option B. Buy a house and land package
In this scenario, a builder has already prepared a home design specifically for the lot. Under this option you will have two contracts to sign – one with Lendlease to buy the block of land, and the other with the builder to build the house.
Option C. Buy a new home
This is where you buy a new home ‘off the plan’ (or already built), and once it is completed and ready, you can simply turn the key and move in! Only one contract is needed here to secure you a ready-to-move-in home.
Once you have determined your ideal way to purchase, whether it is to buy a package with a set home design, a newly built home, or a block of land to build with your chosen builder, you can start the journey to making your dream a reality!
Next, make your dream a reality
Step 1. Talk to your bank or mortgage broker
Before making the final decision to buy, it’s important to speak with an independent financial advisor to understand your options and make the best choice for you and your family.
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 always have a solicitor look over the contract,” Jamie said.
Once you have chosen your preferred block at Kinma Valley, Lendlease will prepare a Land Sales Contract. This process may vary depending on which home option you are buying. You will need to refer to the instructions provided at the time of the release.
“As your Sales Consultants, we can help you understand the best lot to suit your home and budget".
Step 3. Pay your deposit and sign your contact
To secure your block of land, you can choose from either a 3% or 10% deposit option to be paid. Once the deposit has been made, land contracts are prepared.
“Remember to give your solicitor or conveyancer time to review the contract,” Jamie said.
Step 4. Design of your new home can begin
Once you’ve chosen your home design, your builder will help you select a floor plan and discuss any upgrades you might need to suit your lot.
To maintain our standards in your Lendlease community and protect your investment, all homes must comply with our Design Guidelines. Spec homes and house and land packages can be pre-approved, but typically the builder will need to submit your plans to our Design Support Team for approval.
Your builder will give you a building contract, and you will need to pay a percentage of the build price as a deposit, which varies from builder to builder. Prior to signing, be sure to take notice of the holding timeframe of the build price.
Step 6. Land registration and settlement
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, and your solicitor now needs to inform our Lendlease solicitor of this on your behalf. Remember, your finance can only be approved once the bank’s valuer has accessed the site and conducted a valuation.
Most of the land at Kinma Valley will be sold ‘off the plan’ as unregistered, which means you are securing your preferred block of land before it is built on and serviced. Once your land is ready to be built on, we will register your individual lot with the Qld Government Titles Office.
Your solicitor or conveyancer will be notified once the land is registered. Settlement will typically occur 14 days from registration.
Step 7. Keeping you in the loop
The time between when you sign your contract and settlement can vary, but don’t worry! We’ll send you regular project updates to your email inbox to let you know how things are progressing, as well community updates and events to help you get excited about your new address.
Step 8. Construction
Once your block of land is registered, and you have settled, and your plans have been 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”, Jamie said. “Your financial institution can help arrange these payments for you. Your builder should keep in regular contact with you during the build, but you can always contact us if you have questions.”
Step 9. Welcome!
Congratulations! Your new home is now ready and it’s time to pick up the keys from your builder, move in and celebrate! Meet your neighbours at a welcome event and start enjoying life among the trees at Kinma Valley.
To register your interest in land at Kinma Valley or get in touch with our friendly sales team, click here.
Download the Kinma Valley Home Design Guidelines here