Frequently asked questions
Connect Homes Process
We’ve designed our 5-step process to help you save time and money with everything included in the purchase price, and your new home ready for you to move straight in.
Step 1 - Contact us and choose your location
We have packages available in Master planned estates throughout Sydney, Central Coast, Hunter and Illawarra regions.
If you aren’t familiar with some Estates our professional sales consultants will be able to assist you in finding the location that best suits your needs.
Step 2 - Select Your Property
Once you’ve decided on an estate, your Eden Brae Connect Home sales consultant can help you find a property with a design that best suits your family size, lifestyle and budget as well as provide a timeframe for completion. Our packages are available at different stages, some are newly completed, currently under construction or about to commence construction. All packages are sold complete with quality inclusions, all backed by Eden Brae Homes, one of NSW most awarded major building companies.
Step 3 - Secure Your Property
Secure the property with a $1,000 (non-refundable) Reservation Fee
This takes the property off the market for 21 days while you seek independent advice from your solicitor or conveyancer
HINT: This is the opportune time to check your stamp duty & finance.
Step 4 - Exchange Contracts
Within 21 days of paying your $1000 Reservation Fee your solicitor or conveyancer will manage the exchange of contracts on your behalf. You pay the remaining deposit balance on Exchange. (5% of package price less the $1000 reservation fee paid).
HINT: At this time there can be lots of questions and your sales consultant is on hand to assist you with anything you need.
Step 5 - Move In
When construction is complete we obtain an Occupation Certificate and then arrange for a final pre-settlement inspection with you. You pay the balance owing of your purchase price, settlement takes place and your new home is ready for you to move in!
Unlike a house and land package, you have one, not two purchase contracts and you won’t have to make any progress payments during construction;
A 5% deposit and no progress payments means you don’t have to worry about finding extra income while you are renting;
The advertised price is the final purchase price, there are no provisional or site costs to pay later when the home is completed;
Connect Homes have properties to purchase at various stages - off the plan, under construction, and completed homes, saving you even more time, whereas a house & land package usually doesn’t commence until it has been purchased;
When your Connect Home is completed, it really is complete, ready for you to move in, not all house & land packages are completely finished and often don’t include driveways, turf and fencing in the package price;
In short, historical tracking of property vs. shares has proven that overall the stock market is a much higher risk with markets being more vulnerable to economic fluctuations such as the Global Financial Crisis in 2009.
Investing in property is a much more stable and reliable investment because property values very rarely go down and you also benefit from a stable cash flow from rental payments.
Finally, you can invest your superannuation in a Self Managed Super Fund (SMSF). Read more about property investment and SMSFs here.
“Negative gearing” means that the cost of owning and maintaining your investment property outweighs the rental income it generates. The difference is therefore a loss that can be claimed as a tax deduction, which reduces tax on your salary or overall income. “Positive gearing” means that the income from your investment property exceeds your interest expenses and other deductions. This means that you may need to pay additional tax on the income derived from your investment property.
Did you know that you can pool your financial resources with family or friends to buy an investment property? However, this tactic carries greater risk so make sure you access the right legal and financial advice before proceeding to ascertain each person’s financial commitment and ownership percentage.
Some lenders may charge you a higher interest rate if you’re borrowing for an investment property, so it pays to shop around and get the right loan advice. The loan on your investment property will also depend on the amount of equity you have in your current home. To get more information about the right kind of loan please contact us and we can arrange for one of our home loan advisors to contact you.
The laws for property investment in Australia by non-residents or non-Australian citizens are changing all the time. Please read the FAQ on the Australian Government Foreign Investment Review Board’s website for the most up to date information.
Obviously choosing a property that is most likely to grow in value is the best type of property to ensure return on your investment. But also take into consideration current rental incomes in the area you’re thinking of buying in.
If you already own your own home you may not need a deposit to buy your investment property. Instead you can use the equity in your existing home. Equity is the difference between your home’s current market value vs. the balance of your mortgage.