FAQs

Thinking about Building in one of Warrnambool's Estates?

If you are interesting in building but have some questions that need answering, feel free to contact us anytime or browse through our list of FAQs here.

Q?

What are the benefits of buying land in a master planned community?

A.

A master planned community, as the name suggests, is a community where every element and consideration is planned from the beginning of the project. This means that key aspects such as the road network, houses design criteria, and open spaces are integrated to bring together a cohesive community feel. Somerfield is designed and built to nurture a lifestyle that is geared to the needs of families with facilities such as parks, wetlands, and bike and foot paths, as well as accessibility to local services and transport options. Design guidelines in place protect your investment and offer improved value by enhancing and ensuring the overall character of the development. The like-minded nature of our residents also enhances the feeling of community, making Somerfield a place where people love to live.

Q?

What are the benefits of building a new home compared to buying established property?

A.

The benefits of building a new home include both lifestyle and financial factors. Building new can provide significant stamp duty savings as stamp duty is paid only on the land, not the house. Further to this, by building new you can choose your home, or have one designed especially for you, and have it tailored to you and your lifestyle.

Q?

What is an easement?

A.

An easement is a section of land registered on your property title which gives someone the right to use the land for a specific purpose even though they are not the land owner. An example is a shared driveway. There are also certain statutory easements which are not registered on your title, such as power or telephone lines, or drainage easements. If you wish to build over a statutory easement, you will need to get consent from your local council. For other easements, you will need to get consent from whoever the easement is vested in. An easement should have no effect on the day-to-day enjoyment of your land. The important thing about easements is to be aware of them, and know the terms of any which affect your property, so contact your legal advisor to be sure.

Q?

What is the meaning of ‘Settlement’?

A.

Settlement is the process of transferring property from one owner to another.

Q?

Why do I need a solicitor or conveyancer?

A.

A solicitor or conveyancer is required to complete the conveyancing transaction for property settlement. Prior to settlement your solicitor or conveyancer would prepare all necessary documents on your behalf. You may also want to consult a solicitor or conveyancer to assist you with understanding all of the paperwork involved in the transaction, including the contract of sale.

Q?

How do I get finance?

A.

To obtain finance you need to follow several steps including preparation, knowing your finances and budget, making contact with various lenders or a mortgage broker to research lender products and submitting an application with your preferred lender. There are many online resources that can help you find out more about the process of obtaining finance.