Information for new home buyers in Plumpton Vic

Know this:

Plumpton is an area of Melbourne's west that is part of the Melton growth corridor.
Planning for the area was completed in 2018 and several developers are active in the area.
Check out other neighbouring suburbs with land for sale: Cobblebank, Tarneit and Bonnie Brook.

Plumpton is situated in Melbourne's outer western suburbs, between Taylors Hill and Melton.

Residents of Plumpton have easy access to the city, other neighbouring suburbs and Melton via the Western Freeway and the Ballarat Line at Rockbank or Caroline Springs stations.

There are several developers active in the area and there are several estates with land availability including Fraser Rise, the Bowery Estate, the Dales Estate.

The Victorian Government is investing large sums in infrastructure for the region, be it transport, education or medical-related.

Several new schools will be built in the area as the region develops.

For up to date land availability, that can be obtained by putting in a contact request to register your interest using the form you see on any of the listings you see on this page.

If you would like to refine your search, you can do so by using the filters at the top of this page. Registering your interest will assist in speeding up the process of putting you in contact with a qualified sales professional.

What is a house and land package?

There are broadly two types of house and land packages: Turnkey and Standard.

A turnkey house and land package is where a developer sells you a piece of land, builds a house and at the end of that process, hands you a key.

You literally turn the key in the door and the home is yours. This process generally has several involved meetings with the developer before construction begins so they can take into account any preferences you have.

Note: while developers will offer some choices - like colour schemes, flooring types, appliances (and prices will reflect those options), turnkey solutions are designed to keep costs to a minimum and as a result there is, broadly speaking, less choice in how you want your new home to be presented.

Standard house and land packages are more involved and at a high level, they involve you purchasing the land like any normal real estate transaction (with or without a mortgage) and then you can build the house at a later date.

This gives you a lot more options in how you want your new home to look and feel - you can customise a lot more - however you, as the buyer, are more involved with the construction and you need to manage more during the life of purchasing.

Financing

Always seek professional advice on securing financing for your property purchase.

Financing for house and land packages can differ depending on the type of package you intend to purchase.

For turnkey house and land packages, the purchase price tends to be fixed and, broadly speaking, the loan you will need to qualify for will generally be a normal home loan - complete with requirements to have a 20% deposit before being subject to LMI.

For standard house and land packages, you will, broadly speaking, deal with two different loans. Firstly, you have to purchase the land and this is where you will, generally speaking, need to have a 20% deposit in order to not be levied with LMI.

Secondly, your financial provider will supply you with a ‘construction loan’ that you draw down on as you pay contractors at different stages of the home’s construction.

This advice is high-level in nature and always consult a mortgage broker or broker at a bank to get tailored advice that best suits your budget.

We aim to make things easier for you to find your new home here at Urban.

Be sure to refine your search in order to find projects that best suit your requirements.

If you register your details on the form provided on any of the listings you see on this page, it will enable us to connect you with an agent or other qualified sales professional sooner.

3 to 5 bedrooms Developments for sale in Plumpton VIC 3335

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