Protect yourself from shifts in the property market: How Assemble Future’s rent-with-the-option-to-buy model can help you secure a Brunswick home
Assemble Futures offers a more accessible pathway to owning a home, that bridges the gap between renting and buying, with their latest Melbourne development, 4 Ballarat Street.
Located in Brunswick, one of Melbourne’s most diverse neighbourhoods, the project supports you on a path toward homeownership by enabling you to move in and rent your apartment for five years, while you save to buy it.
The development focuses on providing housing for low and middle-income households looking for a secure, long-term next step.
Assemble managing director Kris Daff said the housing concept helps residents protect themselves from shifts in the property market.
“We are witnessing the strongest growth in property values in our history, rising at their fastest rate in almost two decades, and as a result, we have reached a crisis point in housing affordability”, he said.
“Our housing concept, Assemble Futures, takes the volatility out of the market and provides absolute price certainty for our clients over the term of the lease and the end purchase price.”
The one, two and three-bedroom apartments at 4 Ballarat Street saw their first stage release on May 15, with further releases expected to be available throughout the month.
Designed by Fieldwork with landscapes by Rush Wright, the residence will run on 100 per cent renewable energy, offer flexible studio space, rooftop gardens and quality design.
So how does the rent-with-the-option-to-buy model work?
Assemble Future’s seven-year rent-to-buy model is simple for buyers, allowing residents to sign a lease, with agreed rent for five years after a two-year building period.
As the contracts are 12-month rolling leases, potential homebuyers have the flexibility to leave at the end of any period if they decide the development may not be the best fit for them.
Seven years is the average time most people living in Australia require to save for a home deposit and 4 Ballarat Street offers buyers a set target to save towards.
This way, homebuyers can avoid the fast-increasing property prices in Melbourne’s market by securing their home at a price agreed to when the initial lease was signed.
Assemble also supports residents on their savings journey, with a free, opt-in financial coaching programme.
Additional initiatives, such as bulk-buying on everyday essentials through sustainable suppliers, further ensures buyers are well-positioned to purchase their apartment at the end of the lease period.
Test drive your new home
Thanks to Assemble’s rent-to-buy model, potential homeowners can live in their apartment before committing to buy, delivering a taste of the neighbourhood, apartment and community.
4 Ballarat Street will mark the third Assemble project created in partnership with Fieldwork, following Clifton Hill’s 122 Roseneath Street and Kensington’s 393 Macaulay Road projects.
The architects designed the home to reflect the layered personality of Brunswick, right through to fixtures, lighting and other finishes.
Inspired by the terracotta hues of the inner-city suburb, apartments are accented with a warm colour palette, such as terracotta tiles, rich feature joinery, and chrome finishing.
Fieldwork director Quino Holland said that, as someone who had designed a number of apartment buildings over the years, he had been “frustrated that a lot of my team members can’t afford to buy into the projects they’re working on.”
“I’m excited that the Assemble Model will provide them with the opportunity to do so in a supported and flexible way.”