Plenty of our buyers have never set foot in the suburb they buy in. They live in Perth, Sydney, Adelaide or Brisbane, and they look at Victoria because new house and land is still priced within reach in the growth corridors. Here is how it works, step by step.
Why investors look at Victoria
- Entry price. A complete new four bedroom home on its own title in Melbourne's growth areas or Geelong can still come in under prices for similar new stock in many other capital cities. Compare for yourself on our package pages.
- Brand new means low maintenance. Builder warranties apply, and depreciation on new fixtures may help at tax time. Ask your accountant how this applies to you.
- Duty on the land, not the house. With a house and land package you usually sign two contracts. Stamp duty is generally calculated on the land contract, not the build. Your conveyancer will confirm the exact amount.
How the purchase works
- Pick a package. Every price is shown upfront: land, fixed build price and site costs.
- Request the details. You receive the full package by email: floor plan, inclusions, exclusions and lot details.
- Expression of Interest. If you are serious, you complete a short EOI. This is when final availability is confirmed.
- Two contracts. One for the land with the developer, one for the build with the builder. A Victorian conveyancer reviews both, usually remotely, and you sign electronically.
- Deposits. Paid directly to the developer's and builder's trust accounts. Aira never holds your money.
- Finance and build. Your lender pays the builder in stages as the home goes up, and you get progress updates through to handover.
- Lease. A local property manager can be lined up before handover so the home is advertised early.
Costs to plan for
- Deposits on the land and build contracts
- Stamp duty on the land contract
- Conveyancing and loan costs
- Victorian land tax, which applies to investment property and is assessed separately from your home state. Check your position with the State Revenue Office.
- Insurance during and after the build
- Property management fees once leased
Common questions
Do I need to visit Victoria?
No. Many buyers never do, although you are welcome to.
Can I use my own lender and conveyancer?
Yes. Use a conveyancer who works with Victorian contracts.
How long does it take?
It depends on when the land is titled and the build time. Each package page shows the title status.
