Grants a great getaway plan to Mandalay

May 2009

The Federal and State Government First Home Owners Grant (FHOG) and boosts, are set to help many new buyers into a superior lifestyle at Victoria’s newest development ‘Mandalay at Beveridge’.

One of the few new residential communities within 45-minutes drive of Melbourne will benefit from its ‘regional’ status, first home buyers at Mandalay will be eligible for up to $36,500 from State and Federal Government grants and boosts, between 1 July and 30 September this year.

From July this year, first time buyers at Mandalay will have access to the recently announced bolstered state grant of $15,500, the continued federal grant of $7000 and an additional federal grant boost of $14,000.

The increased grant amounts will be available until 30 September 2009 when the federal boost will reduce by half, to $7000, bringing the gross grant opportunity to $29,500 for the remainder of the year.

Mandalay, a unique lifestyle development located within the Shire of Mitchell, will incorporate a 18-hole Peter Thomson designed golf course and clubhouse ‘Club Mandalay’, a proposed primary school and more.

Comprising 2000 home-sites set among expansive open space areas making up approximately 40 percent of the overall development site, Mandalay will be the ideal location for buyers seeking to take advantage of the bolstered FHOG’s.

The estate recently launched its first release offering 44 allotments ranging in size from 476sqm to 748sqm and prices starting from $126,000.

The ideal place to enter home ownership, all residents will have access to ‘Club Mandalay’ an architecturally designed community hub comprising a swimming pool, gym, tennis courts, restaurant, bar and more.

Mandalay development manager, Rod Binedell said “The recent budget announcement would provide a great sense of relief to the first home buyer market.”

“ Unique for its location just outside the metropolitan area, yet still so close to Melbourne, Mandalay offers first time buyers an exceptional opportunity to take advantage of the grants offered to regional areas.

“As a ‘regional’ land development first home buyers are eligible for an extra $4,500 in government grants making buying a home at Mandalay a very attractive opportunity.

“ Buyers are very savvy and recognise the ultimate benefits of buying into emerging developments like Mandalay where cutting edge technology such as fibre optic cabling is available and sustainable inclusions such as recycled water – are available.

“ The state and federal grant extensions mean that buyers have some extra time now to seek out their options and look for communities that are not only affordable but are the right choice for the long term,” Mr Binedell said.