Marq it down as a great deal
The Marq is offering home buyers the opportunity to purchase house and land packages with only 10% deposit until completion and no further payments for 15 to 18 months, equating to savings of an average of $25,000.
Marco Gattino, Director of Goldfields Living, said the “10/90” offer meant buyers would only need to put down a 10% deposit now and the balance would be paid when their new homes are ready to move into from August 2013.
Marco said the offer was available on the The Marq’s Townhomes, with a starting price of $545,000, as well as the Parkfront homes at the development, with a starting price of $658,500.
“In this case, the developer is actually funding the purchase for you as opposed to a Split Contract system where the buyer funds the purchase through progress staged payments throughout the land settlement and build process,” Marco said.
“Significantly, the buyer doesn’t need finance pre-approval to buy now, only the 10% deposit. This means better cashflow management and allows additional time to save more money between the initial off-the-plan purchase and final settlement,” he said.
Marco said because the home buyer’s funds are not tied up on a Split Contract, the purchaser has more flexibility to use funds elsewhere if needed, removing much of the “transition stress” associated with selling up and buying a new home.
“This transition stress can be a major reason why potential purchasers are hesitant to commit to purchasing their next home and moving up the property ladder,” he said.
“Imagine having the luxury of knowing you have well over a year to sell your house and then the option of potentially having $2,000 a month to cover your rental bills or save a bit extra while you wait for your new homes to be completed.”
“The removal of the financial obligations on the block also gives home buyers more breathing space when negotiating the sale of their current home,” said Marco.