Orchid Hill, Wadalba. Land Sale, house and land packages, wyong, central coast. Allworth, masterton, Macdonald Jones

11th January 2017

FEATURE PROPERTY OF THE WEEK
 

22 Barn Owl Avenue, Wadalba. Four bedroom, double garage, large family and dining area, open plan kitchen and modern appliances for just $578,000.

WHAT AN OPPORTUNITY! These don't come along often - stunning brand new home with registered land on a 456sqm block - no need to wait, be in by July 2017!

Make the sea change and join the peaceful coastal community of Wadalba. This prime location offers quick and easy access to shopping, transport, schools and day care centres, perfect for First Home Buyers and Investors alike. With Wadalba Wildlife corridor and Tuggerah Lakes right on your doorstep you can be sure your sanctuary will stay that way for years to come.

Registered land in this sought after suburb won't last long - call Keely today 0406 699 910 for additional information.
 

12th September 2016

We all understand the concept of ‘savings’...even as kids we were introduced to the idea of saving with our pocket money, and we all probably had a little piggy bank or something similar we’d top up now and then in an effort to purchase that something special.  If you’re new to the process of purchasing a new home however, you may have only recently come across the term ‘genuine savings’, and if you haven’t yet, you no doubt will soon…

So what exactly are ‘Genuine Savings’ and what makes savings as we know it, ‘Genuine’?

Basically, Genuine Savings is a lending industry term that refers to deposit funds for a property purchase that have been genuinely saved over a defined period of at least 3 months. Some examples of  what can be considered Genuine Savings include:

You can see a pattern emerging...with 3 months being the consistent minimum amount of time considered for the above to be genuine forms of saving, which is the case for most lenders. Genuine Savings must also be held in the name of at least one of the borrowers, and generally speaking they need to be liquid in nature i.e. they need to be held in a bank savings account or otherwise be investments that can easily be sold and quickly converted to cash.

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With that in mind, the following are typically NOT considered forms of Genuine Savings for the purpose of a home deposit:

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So now we know what is and isn’t considered Genuine Savings for the purpose of a deposit...but are Genuine Savings always needed as part of the home purchase process? The short answer is No.

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For most lenders, Genuine Savings are required if their the Loan to Value Ratio is higher than 85%. So if the value of your loan is more than 85% of the value of the property you’re seeking to purchase, then Genuine Savings are likely required.

But how much in Genuine Savings are needed? Well, it depends…

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If you’re planning on building or purchasing an owner occupied property (so you plan on living in the house you’re purchasing) you’ll need to contribute 5% of the security value as Genuine Savings, yet if you’re building or purchasing a property as an investment (but will not be living there yourself) you’ll need 10% of the security value in Genuine Savings.

Let’s look at an example scenario:

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Brett and Emily are a young couple with a baby daughter seeking to purchase their first home. They have been considering house and land packages where the title is not until June 2017, so they have a bit of time up their sleeve…

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They have funds in a trust account to the amount of 22K, but were advised that these wouldn’t be considered Genuine Savings because they had only been placed into the trust 1 month prior.

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However, in an effort to help them secure their dream of purchasing a new home for their growing family, we came up with a solution...An arrangement was made whereby they can pay a deposit on the land using funds from their trust, and after 3 months (sound familiar?) this land will become Genuine Savings that can be used to apply for the full loan.

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At this stage a deposit has been paid on both the house and the land to lock in the price on the house itself, while Brett and Emily wait for the land to be considered Genuine Savings/Equity for the purpose of their full loan.

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So if you think you may struggle to demonstrate Genuine Savings, don’t despair! Call one of our New Home Advocates today for a chat about how we can help you make your new home dream a reality...we made it work for Brett and Emily and we’ll do our best to make it work for you too.

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Call Keely today to discuss a range of options.

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As your New Home Advocate we’re here every step of the way to cut through that jungle of red tape and to make things happen!

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30th January, 2016

23 October, 2015

04 March 2015

18 September 2014

26 May, 2014

17 February, 2014

This was the weekend for first home buyers relocating from Sydney.

It was our strongest week yet at Orchid Hill with a record 5 new owners preparing to make their move and construction well under way. Lots 115, 116, 118 & 128 sold and 119 redeposited after coming back on the market.

Fast and furious is the best way to describe the construction pace at Orchid Hill. Tree removal and road clearing are first in order and the weather is having little effect slowing the crews down.

Lot Update (Now 55% SOLD):

Stage 1 - 3 lots remaining

Stage 2 - SOLD OUT

Stage 3 - 2 lots remaining!

Stage 4 - 43% SOLD

There is still great value waiting to be snapped-up and our house & land packages are very good buying, particularly for investors.

If you have any questions please do not hesitate to contact me! Keely 0406 699 910.

15 February, 2014

Wyong Shire Council has officially signed an agreement to sell land that will soon be developed into what's being described as one of the biggest tourism projects ever seen in NSW.

In November 2012, Council formally approved the sale of 15.7 hectares of land at Warnervale to the Australian Chinese Theme Park Pty Ltd (ACTP) for $10 million, for the purpose of constructing a $500 million Theme Park.

12 February, 2014

We thought it was high time that we updated the newsstand with who's who in the Zoo. What has stood out so far is just how many buyers are going for their second or third home and building beautiful and grand homes with some of the state's biggest and best builders.

This time however it's a wonderful investor who is building with one of our project partners, Hudson Homes. Hudson are the rising star in new home construction in NSW with their functional and value packed plans, fully fixed price contracts and turk-key inclusions. Just perfect for the investor and first home buyers looking to keep in simple and great value.

It's expected to be another busy weekend under the Orchid Hill 'Big Top' on site - trust me you can't miss us. Saturday and Sunday I'll be there with a smile on my dial and some great land in hand!

11am-4pm. Hope to see you there!

Keely

03 February, 2014

Another busy weekend onsite at Orchid Hill with Stage 2 selling out. The community is growing fast and both large and small lots are proving popular with young families and also downsizers making Orchid Hill their home. 

Lots 111,125 and 110 were sold on Sunday and we have placed lots 119 on hold  pending builder's pricing.

We are going to have a spectacular selection of homes being built in the estate with all of the current land purchasers looking at a large range of builders with some beautiful designs already selected - Orchid Hill really will be a community to be proud of

Like our facebook page to keep up to date with community news and development updates- www.facebook.com/orchidhillwadalba

Lot Update:

Stages 1 Now Selling- 60% sold

Stage 2 SOLD OUT

Stage 3 NOW selling - 40% sold

Stage 4 Call for pricing- 1 lot already sold

As always, if you have any questions please do not hesitate to give me a call! Keely 0406 699 910

28 January, 2014

What a spectacular Australia Day long weekend we had at Orchid Hill. The community is growing fast and larger lots are proving to be very popular.

Lots 121 and 126 were sold on Sunday and we have placed lots 111,125 and 124 on hold fo the week pending builder's pricing.

What stands out is just how much of a happy little community Orchid Hill is shaping up to be. Whether it's the wonderful locals or Sydney-siders making the bold move, the theme is all about family. 

And the street christmas party is going to be a hoot!

Update:

Stages 1 and 2 nearly sold out.

Stage 3 NOW selling

Stage 4 Register your interest

As always, if you have any questions please do not hesitate to give me a call! Keely 0406 699 910

2 December, 2013

Saturdays and Sundays on-site have been busy affairs. Keely Chapman, Project Sales Manager says she has seen all kinds of weather and all kinds of buyers. "Investors seem to have realised that the Central Coast is one of the few buyers' markets in NSW. Second Home Buyers are keen on the larger lots and we've secured a great starter home & land Package for our inaugural first home residents!"

12 November, 2013

Stage 1 is now released. It's taken a couple of years and Stage 1 has been received with great expectation. Lots from $205,000 and home & land from $399,000. Call now to arrange an on-site inspection appointment.

Regisrations of Interest now being taken for Stages 2 & 3.

01 August, 2013

The State Government has predicted that by 2031 the Central Coast will have an additional 100,000 residents, and this will require around 45,000 more jobs (as outlined in the Central Coast Regional Strategy).

17 June, 2013

Wyong Shire Council this week endorsed a planning proposal -- which could lead to the establishment of a Woolworths being constructed at Wadalba -- be forwarded on to the State Government’s Gateway Review Panel for an initial determination.

The 1.5 hectare site on Figtree Boulevarde has been earmarked for a $14 million Woolworths development that will include a supermarket, speciality shops and a petrol station.

02 May, 2013

CARE at Wyong Hospital's emergency department will be enhanced and the cancer day unit upgraded.

Health Minister Jillian Skinner discussed the plans during a hospital visit last week. Ms Skinner said cancer day units at Gosford and Wyong had been expanded with improved chemotherapy services.

05 April, 2013

WYONG Shire could be on the verge of a mini housing boom after the State Government identified a huge 1700-lot site at east Wadalba for fast-track development.