Congratulations on deciding to make the move to The Shoals at Lammermoor Beach.
Keppel Developments is committed to creating the best places for you and your family. This guide has been designed to help ease you through the required steps from paying your initial holding deposit, right through to becoming a resident. This is an exciting time for you and we look forward to seeing your new home take shape. Should you require any further information or assistance at any stage, please do not hesitate to contact the Keppel Developments team.
Building or buying a home can be an intimidating process, particularly if you’re a first home buyer. However, like any seemingly daunting task, buying a home becomes manageable if you break it into smaller steps.
We have created an easy step-by-step overview of the buying and building in a Keppel Developments community, whether you’re buying land, a home and land package or a spec home.
Step 1 – Seek Financial Advice
Before making the final decision to buy, speak with a financial advisor to understand your options.
Step 2 – Secure your block, home and land package or home
Although this process differs slightly depending on what you’re buying, generally you will be asked to sign a contract and upon signing this contract, pay a 3% deposit (of the land contract price) and a $1000 compliance bond. This bond is fully refundable upon you receiving covenant approval for your home design. Before you sign, you should have a solicitor look over the contract.
Keep in mind that there are fees involved in buying a house, including government stamp duty, property searches, legal fees, mortgage insurance and finance loan fees. One of our Sales Consultants can help you understand which extra costs you need to pay.
Step 3 – Contract unconditional and Transfer of Land
Once finance is approved and the conditions of your contract are met, your contract becomes ‘unconditional’. This means you’re able to proceed with the contract. Your solicitor now needs to inform our solicitor of this on your behalf.
Step 4 – Design Support
Keppel Developments offers a complimentary design support service independent from your builder, to help you develop ideas for your new home. It’s best to contact us early in the design process to maximise the free design assistance we can provide.
Step 5 – Design and Siting Requirements
To maintain standards in your Keppel Developments Community and protect your investment, all homes must comply with the Covenants. Spec homes and home and land packages can be pre-approved, but generally the builder will need to submit your plans to our External Covenant Reviewer for approval.
Step 6 – Keeping you in the loop
The time between when you sign your contract and settlement can vary. We’ll send you regular project updates to your email inbox to let you know how things are progressing.
Step 7 – Settlement
Things are really happening now! Make sure you put your settlement date in your diary.
On the settlement day, you need to pay the remaining balance of your purchase. To avoid any disappointing delays, make sure that funds are available from your financial institution before your settlement date.
Once all the relevant mortgage documents are signed, the land title will be transferred into your name.
Step 8 – Construction
Now that your block of land is registered and your plans are approved by our External Covenant Reviewer, your builder will then submit the plans for building works and plumbing approval. Once approved, the builder can start construction.
Most builders require progress payments, usually at five stages: slab down, frame up, roof on, lock-up and practical completion. Your financial institution can arrange these payments for you.
Safety is very important during the construction process. Your builder must comply with workplace health and safety regulations, and they’ll let you know when it is safe to go on-site. It’s important that you don’t take a sneak peek during construction without your builder present!
Your builder should keep in regular contact with you during the build, but you can always Contact Us if you have questions.
Step 9 – Apply for your compliance bond refund
Once you’ve finished building your home, completed landscaping, finished your driveway and fencing, don’t forget to apply for you compliance bond refund. We’ll do a quick visual check of the outside of your home, and then deposit your bond into your account.
Step 10 – Welcome
Your home is now ready, and it’s time to move in. Keppel Developments, we know that moving into your new home is exciting, and we want to make your welcome memorable