PERTH – 21 APRIL 2012
IMAGE (L-R) Grahame Searle - Director General of Department of Housing, Paula, Lily and Lee Andrews - Now Living's first clients and Julian Ambrose - Managing Director of Now Living Realty.
Now Living Realty has been launched in Perth with a suite of 'turnkey' designs designed to offer West Australians a new option in affordable housing.
Launched with the backing of BGC and the Department of Housing, Now Living is offering 450 brand new affordable homes in a range of Perth suburbs, from Alkimos, Ellenbrook and Girrawheen in the north, to Piara Waters, Seville Grove and Lakelands in the south starting from just $295,000.
Department of Housing Director General Grahame Searle said the 450 new homes are a part of the Department's 'Opening Doors' initiative that seeks to help more West Australians achieve the dream of home ownership.
"Many of the 450 new homes will be offered under a shared home ownership scheme that will provide up to 2000 affordable housing opportunities across Perth and the greater WA region," he said.
"A local consortium of builders is involved in building the 450 homes within this program, which will be sold by Now Living, with the first of the new homes to be complete by April 2012.
"The shared home ownership scheme is one of the key initiatives under the State Government's Affordable Housing Strategy that aims to deliver at least 20,000 affordable housing opportunities by 2020."
Under this unique shared home ownership scheme, the Department of Housing will retain up to a 30 per cent share of the property which will significantly reduce the initial borrowing costs associated with buying a home, making it a more affordable alternative for homebuyers.
Eligible homebuyers can finance their share of the home through the SharedStart home loan offered by the Government's lending provider KeyStart Loans.
Managing Director of Now Living Realty, Julian Ambrose explains, "If our clients are eligible for the SharedStart home loan, the shared price to buy a brand new home can be as little as $236,000. This exclusive loan option is open to all first and subsequent homebuyers who cannot afford a standard home loan, regardless of proof of savings, and who meet the income and residency criteria listed on our website".
According to Julian, "All homes within the Now Living range are being built to turnkey specification. This means that each brand new home will come complete with window treatments, floor coverings, internal painting and landscaping, so you get all the benefits of a brand new home, without the finishing costs. So once you have your keys, all you have to do is move in," he said.
The homes are featured in either a three or four bedroom design with two bathrooms. All of the homes include a contemporary facade, plus a combination of great features including; a gourmet kitchen with stainless steel appliances, spacious bedrooms with built-in robes, an ensuite and walk-in robe to the master suite, and a range of activity areas, including a children's activity zone, study, home theatre and alfresco.
According to Mr Ambrose, prices start from as little as $295,000 (full market value) for a home located in Brookdale, which is easily one of Perth's most affordable new homes. If clients qualify for the SharedStart home loan and the shared home ownership scheme, their share of the purchase reduces to $236,000*.
"The three bedroom, two bathroom homes in Brookdale are an excellent entry point for first homebuyers. They have everything a young family, single or couple needs, with all of the extras you could want in a first home, including built in robes, a double garage and store with remote control access and a gourmet kitchen. The homes also feature a paved alfresco area, stainless steel appliances and a modern colour palette," said Mr Ambrose.
The Project 450 homes are being built by a conglomerate of West Australian builders including: WA Housing Centre, HomeStart, Commodore Homes, Aussie Living and Impressions, giving the project direct access to quality designers and superior fixtures and fittings.
Homes will be available in Bertram, Girrawheen, Brookdale, Seville Grove, Banksia Grove, Ellenbrook, Wellard, Wungong, Aveley, Baldivis, Byford and Alkimos.
*The price stated above reflects an 80% share of the available property. The Department of Housing will retain a 20% share in the property's equity.