Buying off-the-plan

Keen golfers&nbsp;have long had the fantasy&nbsp;of&nbsp;waking up on the weekend and getting right into their first round of golf after just a short stroll or a couple minutes in the car.&nbsp;

That&rsquo;s the dream for many, no fighting traffic to get to the club, no need to set aside hours of travel time, and if you get tired and want to quit mid-way through the round,&nbsp;home is round the corner.

Living so close to a golf course sees many of the advantages of living in a golf course community, like quality school zones and&nbsp;increased community amenities, without the downside of a&nbsp;stray golf ball&nbsp;crashing through the&nbsp;window.

Urban has picked out some of the best new apartment developments&nbsp;currently on the market across Melbourne with premium golf course access.

<h2>Omnia</h2>

Address:&nbsp;4-6 Horscroft Place, Moorabbin VIC 3189

[smartcode_project:default project_id=29048 project_image_fid=151675]

One of the standouts of this list is Omnia in Moorabbin, which is close to half a dozen golf clubs just 10 minutes away by car.

The closest&nbsp;golf course is the Brighton Public Golf Course, merely 3.4 km away, followed by the&nbsp;Yarra Yarra Golf Club,&nbsp;Cheltenham Golf Club, Kingston Golf Club and the&nbsp;Royal Melbourne Golf Club to name just a few.

Omnia, by Shenfield Property, has already been drawing in Melbourne CBD commuters&nbsp;seeking a more affordable property without compromising CBD&nbsp;proximity.

Located less than 500 metres from the Moorabbin train station, Omnia is close to a&nbsp;wide range of schools, higher education facilities, caf&eacute;s, shopping and numerous parks and reserves are at your doorstep, including RSEA Park &ndash; home of the St Kilda Football Club.

<h2>Riverbend Park House</h2>

Address:&nbsp;631 Victoria Street, Abbotsford VIC 3067

[smartcode_project:default project_id=29856 project_image_fid=156314]

Riverbank - The&nbsp;Park House resides on the banks of the Yarra River immediately opposite Kew and Studley Parklands, 3kms from the CBD. It is the only development on our list to not only have golf course access just across the river, but is also home to its very own golf simulator, perfect for practicing without all the ball fetching.

If residents are eager to get in a few quick holes, the&nbsp;Studley Park Par 3 Golf Course is right there across the Yarra, even closer than the&nbsp;Yarra Bend Public Golf Course Melbourne which is just 2km away.

Park House is the latest completed development out of Salta Properties, and in similar fashion to Omnia, has seen massive success due to it&#39;s&nbsp;proximity to the CBD while retaining an&nbsp;affordable price point.

The nine level building has been designed by SJB Architects and is finished with interiors by Sue Carr at Carr Design Group

<h2>Port Lane</h2>

Address: 201 Williamstown Road, Port Melbourne VIC 3207

[smartcode_project:default project_id=89720 project_image_fid=147504]

Port Lane has been drawing on&nbsp;not just its beachside location minutes from the Sandridge Beach sand but also how close it is to golf courses. Less than 5km away are both the&nbsp;Albert Park Golf Club&nbsp;and&nbsp;West Gate Golf Club.

ID_Land, listed among Urban&rsquo;s list of 10 developers to watch in Victoria this year, are behind the Williamstown Road development.

Award-winning architects Rothelowman&nbsp;worked in lockstep with interior designers Hecker Guthrie and landscape consultants Tract to create a development that is authentic and distinctive, all while priced lower than Port Melbourne&#39;s median.

Spend your weekends exploring the bayside location, venture into the CBD to peruse the shops and catch up with friends for brunch. Walk to Fishermans Bend, Sandridge Beach, South Melbourne Market or meander along the Bay Trail. Whichever direction residents choose, theyre&nbsp;spoilt for choice, with lush parks and gardens for relaxing, trails for exploring and the Royal Botanic gardens to enjoy an afternoon picnic or bike ride.&nbsp;

<h2>Moonee Valley Park - Thomas Street and&nbsp;Feehan Row</h2>

Address: Moonee Valley Racecourse

[smartcode_project:default project_id=103179 project_image_fid=167491]

Next on the list are a unique pair of developments in Moonee Ponds, Thomas Street and Feehan Row located in the brand new Moonee Valley Park development by Hamton in partnership with Hostplus.

These two developments, the Thomas St apartments and Feehan Row terraces,&nbsp;are the debut buildings in the brand new&nbsp;$2 billion Moonee Valley Park masterplan,&nbsp;designed by Rothelowman.

Located on the east side of the development, both are just 3.8km&nbsp;away from the&nbsp;Riverside golf and tennis centre and less than 5km from the&nbsp;Royal Park Golf Course.

Being a part of the Moonee Valley Park has residents living alongside&nbsp;the crowning jewel of the master-plan, the horse-racing club now known as The Valley. With a new grandstand, the Moonee Valley Racing Club aims to be the premier night racing venue and is already home to major races like the Cox Plate.

[smartcode_project:default project_id=102580 project_image_fid=167438]

<h2>Canvas</h2>

Address:&nbsp;272 Barkly Street, Brunswick VIC 3056

[smartcode_project:default project_id=29358 project_image_fid=85966]

ID_Land&rsquo;s latest Brunswick development, Canvas, offers residents a premier home with breathtaking vista&#39;s in a convenient location. It is the one of the developments on this list closest to golf with the Royal Park Golf Course just a kilometre away.

Designed&nbsp;by Rothelowman&nbsp;Architects, Canvas puts a focus on residential facilities with&nbsp;is a variety of rooftop communal spaces providing residential amenity and green spaces, with views of Melbourne&rsquo;s city skyline and parks.

It lies in the heart of Brunswick&rsquo;s vibrant community with retail hotspots, diverse eateries and bustling bars that are just a short walk away.

The development an impressive walk score of 97/100, located less than a minute from nearby shops and just three minutes&rsquo; walk to the nearest tram stop.

<h2>Ivanhoe Gardens</h2>

Address:&nbsp;43 Linden Avenue, Ivanhoe VIC 3079

[smartcode_project:default project_id=22308 project_image_fid=75052]

Residents at Blue Earth Group&#39;s latest apartment development, Ivanhoe Gardens in Melbourne&#39;s north-east, have more than just golf access with&nbsp;over 2,000 sqm of dedicated amenity space.

The development, built across two stages by leading builder Hamilton Marino to designs by CHT Architects, has 13 different entertainment zones.

It is 3.7km away from the&nbsp;Ivanhoe Public Golf Course, as well as the winding Yarra River along which golf courses are dotted along its shores.

For the fair-weather golfer who only hits the greens when the sun is shining, Ivanhoe Gardens is another which offers&nbsp;a virtual golf simulator.

Living so close to a golf course sees many of the advantages of living in a golf course community, like quality school zones and increased community amenities

jordan_55689

Melbourne's newest off-the-plan apartments and their closest golf courses

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A near $7 million sale has been secured by Michael Paproth, of The Agency, in the Gurner South Melbourne project.

A 545 sqm penthouse at 74 Eastern Rd sold over the summer break.

It was 2016 when all top floor spaces were sold off-the-plan in the project near Albert Park Lake with its design by Elenberg Fraser.

The then five buyers saw Gurner secure sales totaling $10.75 million as one buyer bought two penthouses, outlaying $3.5 million to amalgamate the holding.

Another of the penthouses went for $3.9 million and the others were priced around the high-$1 million mark.

Developer Tim Gurner’s brief to designer David Hicks was to design penthouses “akin to a $10 million custom private residence.”

One of the buyers were retired empty-nesters Ross and Jenny Venuto who secured the $3.9 million penthouse.

[smartcode_project:default project_id=2100]

Landscaper Jack Merlo was engaged to work at the nine-level building of 71 apartments.
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It was 2016 when all top floor spaces were sold off-the-plan in the project near Albert Park Lake with its design by Elenberg Fraser

jchancellor

$7 million penthouse sale secured in the Gurner South Melbourne

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Owner-occupiers can stand to save up to $73,000 in the Parkhill apartment development in West Melbourne.

The project developer Central Equity are matching the VIC government's $15,000 HomeBuilder grant to save Parkhill buyers $30,000.

That, combined with the potential to save up to $43,000 in stamp duty for owner-occupiers, totals $73,000 of savings. 

[smartcode_project:default project_id=27406]

Investors will benefit from the $24,500 in stamp duty concessions, and Central Equity are offering a rental guarantee for investor purchasers.

One bedroom apartments in the block start from $479,000, or closer to $400,000 for owner-occupiers after the savings boost.

Two bedroom apartments start from $619,000, up to $819,000 when including an extra bathroom and a parking space.

<a href="/buildings/parkhill-apartments-west-melbourne-408-spencer-street-west-melbourne"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/parkhill_melbourne_render_2.jpg" width="1202"></a>

The apartments, many spanning more than 70 sqm, have been designed by Central Equity's inhouse design team. They all have up to 2.7 metre high ceilings, a gourmet kitchen with stone benchtops and Miele appliances and bathrooms with German tapware.

The development has a 6.5 star energy rating, with apartments fitted with double glazed windows.

Residents in the building will have access to a seven day concierge, a rooftop gym and a rooftop garden, complete with barbecues and outdoor seating.
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Owner-occupiers can stand to save up to $73,000 in the Parkhill apartment development in West Melbourne.

Joel Robinson

Buyers could save up to $73,000* on a brand new home at West Melbourne's Parkhill thanks to developer Central Equity matching the government grants

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Around $8 million has been paid for a yet to be constructed Hamilton Hill home.

The home will be built by GRAYA on a 470 sqm block that cost $1.94 million earlier this year.

The 7 Prospect Terrace holding had been held for four decades by the prior owners.

Larc will be a six bedroom, six bathroom home with five car parking, plus its own gym, pool and cellar.

The design is by Joe Adsett Architects.

Matt Lanchashire at Ray White had the off the plan listing in conjunction with Josh &amp; Ruby Property's Josh Brown and Ruby Kiriyama-Brown.

Larc is located next door to Noir (below) that recently sold for just over $9.4 million to an expat as it was finished being built.

Noir was delivered by Zephyr Industries, spanning five storeys with 1,050 sqm of living space.

<img alt="" height="1589" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/noir_hamilton.jpg" width="2000">

The five bedroom, eight bathroom manse holds river and city views from every level.

Situated at 9 Prospect Terrace, Hamilton Hill, Ray White agent Matt Lancashire held the listing which was designed by The Artificial and built by Braydon Larkin.

The property is described in the marketing material as "rivalling prestige homes in the international market," from the eight-car basement to a private master level.

The brand new Hamilton Hill residence features, swimming pool, spa, gym, sauna, office &amp; cinema, a recreation level with bar, kitchenette &amp; BBQ, four external balconies and top of the line security measures including facial and fingerprint scanning.

Graya have another two iconic projects in the early stages on Hamilton Hill.

Graya managing director Rob Gray told The Courier Mail that buying a house off-the-plan and being able to customise the design was becoming increasingly popular among wealthy buyers.
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Around $8 million has been paid for a yet to be constructed Hamilton Hill home

Off the plan luxury home sales popular with wealthy Brisbane buyers

Olivia Round

The ultimate off-the-plan guide: 5 property experts share advice for buying a new apartment or townhome

Des and Nobu had been searching for a property for several years before finding their dream home at <a href="/buildings/penny-place-17-penny-place-adelaide">Penny Place</a> in central Adelaide.&nbsp;

With over 200 Urban property listings in South Australia alone, we understand how overwhelming the variety of choice can be when it comes to choosing an off-the-plan apartment. Here's how Des and Nobu narrowed their search and wound up with their brand new apartment.&nbsp;

<figure><a href="/buildings/penny-place-17-penny-place-adelaide"><img alt="" class="image-article_full_width_580px" data-entity-type="" data-entity-uuid="" height="348" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/penny-place-17-penny-place-adelaide-1e1d85fb56ba7cfe85eb073656e9965a.jpg?itok=aqUUEIoS" width="580" /></a></figure>

<h2>WHY PENNY PLACE?</h2>

Penny Place has many selling points, but it was a combination of the prime location, exceptional customer service and architectural reputation of the designer that won Des and Nobu over.

<blockquote>
"The central location, view to the hills and the Woods Bagot design are very appealing to us.&nbsp;

We attended a sales promotion event in the display suite and met CEO Mark Jarman. His response to our concerns about buying an apartment gave us the confidence to go ahead and sign a contract."
</blockquote>

<figure><a href="/buildings/penny-place-17-penny-place-adelaide"><img alt="" class="image-article_full_width_580px" data-entity-type="" data-entity-uuid="" height="417" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/penny-place-17-penny-place-adelaide-ad4ee200756d9cc05eafa8fe10e5ea71.jpg?itok=AiAhJ9HL" width="580" /></a></figure>

Des and Nobu also commented that the livability of the apartment was a major drawcard.

<blockquote>
"We love the symmetry of the two-bedroom, two-bathroom floorplan and that every room has a full floor-to-ceiling and wall-to-wall view of the city and hills. The seamless flow from the rooms to the balcony will create a more spacious feeling when entertaining, and no step to the balcony gives safer access."
</blockquote>

<figure><a href="/buildings/penny-place-17-penny-place-adelaide"><img alt="" class="image-article_full_width_580px" data-entity-type="" data-entity-uuid="" height="264" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/penny-place-17-penny-place-adelaide-e10be7a7681873af0449f8f060123832.jpg?itok=y87OdqJd" width="580" /></a></figure>

<h2>THE PRE-REQUISITES</h2>

After living in central Tokyo over a decade and enjoying the city vistas, Des and Nobu decided they wanted to move to a home with a view again. Penny Place apartments feature a range of vantage points, including views of the Adelaide hills, the ocean and the city, giving Des and Nobu the outlook they were looking for.&nbsp;

Other features that were on their 'must-have' list included a second bathroom, a Japanese style toilet with a built-in bidet function, no carpet, and, as avid cooks, adequate bench space was essential.&nbsp;

<h2>WHAT WAS IT LIKE BUYING OFF-THE-PLAN?</h2>

When asked about their experience buying off-the-plan from Flagship Property Group, Des and Nobu explained that they were happy with the experience.&nbsp;

<blockquote>
"The friendly manner of the selling agents made us comfortable to ask questions, and because we had never purchased off the plan before, we had many!&nbsp;

We were encouraged to visit the display suite as often as we wanted, and the agents and developers enabled us to visit Kodo next door several times to make comparisons and to confirm the east or west facing view was what we wanted.&nbsp;

Finally, the patience displayed by the Development Manager was extraordinary, as we asked him many times to cost the various changes we wanted to make to our apartment."
</blockquote>

<figure><a href="/buildings/penny-place-17-penny-place-adelaide"><img alt="" class="image-article_full_width_580px" data-entity-type="" data-entity-uuid="" height="290" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/penny-place-17-penny-place-adelaide-4b7a7ffac80a3f756c9dac132b8cd355.jpg?itok=T48IetJn" width="580" /></a></figure>

<h2>THE DUE DILIGENCE TEST</h2>

Des and Nobu explained that they searched the internet to check out Flagship Property's recently completed major developments. These include residential and lifestyle projects in Melbourne, Perth and Sydney, as well as significant government and commercial projects across the country, such as Royal Adelaide Hospital. Flagship Property's glowing track record of landmark developments gave Des and Nobu the confidence to buy their new off-the-plan property, knowing that their home will be built to a high standard.&nbsp;

<blockquote>
"We know a couple who bought off the plan into East Park Kent Town, others in Ergo on Norman Street. They all negotiated variations to the plans to create small changes to suit their unique needs and design preferences. They are all very happy with their apartments, felt it was worth the wait for the construction to be completed, and love the inner-city lifestyle."
</blockquote>

<h2>ADVICE FOR BUYERS</h2>

Des and Nobu have a final word of advice for anyone considering buying within the Penny Place development.

<blockquote>
"If you commit early you have a greater choice of apartments and then the chance to make changes to your apartment that cannot be achieved once construction is completed."
</blockquote>

Want to learn more about the Penny Place apartments currently available for sale? Speak to a sales consultant today <a href="/buildings/penny-place-17-penny-place-adelaide">via Urban</a>.

Buyer testimonial: Des & Nobu share why they bought a Penny Place apartment in Adelaide

Purchasing an off-the-plan apartment in Australia is quickly becoming a popular option among property seekers, due to housing demand, affordability and the low maintenance lifestyle offered by apartment living. As one of the largest off-the-plan property platforms in Australia, <a href="https://www.urban.com.au/">Urban.com.au</a> has noticed growing confidence among those seeking off-the-plan apartments and townhouses and has helped many buyers secure their dream homes and investment properties.

If you’re looking to make a savvy property purchase in the next 6 to 12 months, now could be the best time to buy off-the-plan for the following reasons:

<h2>Building regulations are stricter today</h2>

Australia has experienced a series of construction failures recently (including faulty cladding and structurally unstable foundations), which has led to a more stringent approach to planning approvals and building practices. As a result of this, the quality of new developments today is likely to be of a higher quality than some of the past.&nbsp;

<a href="https://www.urban.com.au/">Urban.com.au</a> provides some great resources for buyers to research off-the-plan properties and prior developments delivered by Developers, Architects and Builders.

<h2>Many buyers may be eligible for stamp duty concessions</h2>

If you’re looking to purchase a new apartment which will be your primary residence for 12 months or more, then you may be eligible for an <a href="https://www.urban.com.au/guides/how-to-navigate-australias-first-home-buyer-grants">off-the-plan stamp duty concession</a>. While Stamp Duty concession policies vary state-to-state, the concept generally means that the duty you’re required to pay on the property you’re purchasing is heavily subsidised to account for construction costs.

For example, if you were looking to purchase a $500,000 off-the-plan apartment, but $400,000 of that is to be spent on construction costs, the dutiable value of your home would be $100,000*.

*Stamp Duty = Property price, minus construction cost

<h2>House prices are forecast to increase over the next 12 to 24 months</h2>

One of the differences with purchasing off-the-plan is that the value of the property purchased may change prior to settlement as the broader market conditions change. This can have a negative impact if you buy at the top of the market and then experience a downturn prior to settlement. The inverse of this provides a significant upside for buyers, as you can secure a property while prices are low and see the value appreciation prior to settlement. Currently, Australian property is at the lower end of the market – meaning it might not be an ideal time to sell, but could be a great time to buy.&nbsp;

<h2>Mortgage serviceability has become easier for buyers</h2>

Urban has been <a href="/news/a-borrower-s-market-the-reserve-bank-of-australia-cuts-cash-rate-to-a-record-low">tracking the changes</a> made by the Reserve Bank of Australia to the official cash rate, which is currently at a record low of 0.75%. What this means for property buyers is that home loans can be secured at a lower interest rate, making mortgage serviceability more attainable. Term deposits and savings accounts are likely to accrue less interest due to the cash rate cut, meaning property could be considered a more lucrative investment.&nbsp;

<h2>Finance is easier to acquire due to APRA’s loosened lending constraints</h2>

Earlier this year Australian Prudential Regulation Authority (APRA) announced that it would be reducing the minimum interest rate serviceability buffer, providing home buyers with the option to purchase off-the-plan property with a smaller deposit. This gives home seekers on a lower income a greater opportunity of securing a loan, which consequently makes it easier to enter the property market.

Lead image: The Siding by Deicorp

Buying off-the-plan

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