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Unbeatable opportunity for First Home Buyers at Alfie!

Market insights 1 month ago Read time: 4 minutes

Calling all first home buyers! Why rent when you can purchase your own home from as little as $385 per week^ Plus take advantage of Federal Government’s $25,000 HomeBuilder grant on eligible homes^^

With construction well underway and the first residents set to move in early next year, Alfie is Altona North’s most highly anticipated residential development, thanks to its incredible location, superior design standards and impeccable quality.

Alfie facade

A project by Development Victoria, Alfie has been crafted with the buyer at the front of mind. Development Victoria is committed to revitalising urban spaces, consistently demonstrating their capacity to successfully meet the needs of Victoria's transforming communities. Alfie is set to be some of Development Victoria’s most accomplished work yet – and eligible first home buyers may be able to secure their dream home at Alfie with as little as a 5% deposit*, thanks to the HomesVic Shared Equity scheme.

HomesVic Shared Equity is an initiative developed by the Victorian Government, designed to assist  eligible first home buyers purchase a home and enter the increasingly competitive property market. HomesVic contributes up to 25% of the property value towards the deposit, this proportional interest in the property can be purchased back from HomesVic at a later date, or is maintained by HomesVic – to be returned when the property is sold.

Alfie living

This forward thinking program presents an extremely realistic and helpful solution for first home buyers who may need a bit of extra assistance to buy their home, and selected homes at Alfie qualify for this incredible initiative. As a first home buyer seeking to purchase one of the stunning Belle home designs at Alfie for $590,000, your 5% deposit of $29,500 would be bolstered by HomeVic, whose 25% stake would contribute a massive $147,500. This may make the mortgage repayments as little as $385 per week^ – cheaper than renting a comparable property so close to the Melbourne CBD.

 

Plus there are home designs at Alfie eligible for $25,000 HomeBuilder Grant, which set them further apart from other developments in the area! 

Situated just 10km from Melbourne's city centre and only minutes from Altona Beach, the architecturally designed 2, 3 and 4 bedroom homes at Alfie are an incredible opportunity, allowing discerning buyers to purchase a home that is stylish, high quality and perfectly located – while also securing a fantastic investment. A masterplanned community nestled into an existing leafy streetscape, Alfie surrounds a central park, and is situated mere moments from a number of schools, shops and eateries, and a plethora of transport options.

Alfie

A range of contemporary designs are available to choose from, allowing buyers to inject their own sense of personal style onto their brand-new space. The generously sized living areas are light filled, creating a sense of immense space and highlighting the artfully curated finishes. Stone benchtops and timber flooring exude quality and timeless sophistication, and ample storage demonstrates the functionality that abounds at Alfie. 

This coveted collection of homes won’t remain available for long, and the HomesVic Shared Equity scheme makes Alfie an incredible opportunity for savvy first home buyers.

For more information on how you can secure your dream home at Aflie with as little as a 5% deposit, click here. 

Alfie courtyard

* Purchase of product as described above will be through the State Government’s HomesVic Shared Equity program. To participate, applicants must qualify for that program. Visit www.vic.gov.au/homesvic-shared-equity-initiative for further details and eligibility criteria. ^Subject to terms and conditions of Shared Equity Program and availability. Calculation is based on Alfie’s Belle home design. Fees, terms and conditions apply. Loan repayment amounts are based on principal and interest repayments over a loan term of 30 years with an interest rate of 2.85% p.a. and a comparison rate of 2.89% p.a. Interest rates are subject to change. The Comparison rate is based on a $150,000 loan amount and over a 25-year loan term. Applicants should be aware that repayments are based on an annual figure then divided by 52 weeks. Applicants should seek independent financial and legal advice before making any decision. Fees and charges are estimates and should be confirmed by banks formal letter of offer. **Amount shown above assumes the State Government’s First Home Owners Grant (“FHOG”) of $10,000 is available to an applicant and can be applied as a reduction to the mortgage amount. Applicants must qualify for the FOHG program. Visit www.sro.vic.gov.au/first-home-owner for further details and eligibility criteria. ^^Subject to eligibility criteria. Visit  https://www.sro.vic.gov.au/homebuilder-grant-guidelinesfor further details.