FAQs

I don’t want to miss out, how can I place myself in the best position to secure an apartment?

Although we can’t guarantee everyone will get their first preference, by following the steps in the sign-up process outlined above and keeping up to date with our correspondence, you will place yourself in the best position to secure one of your top preferences.

What if I can’t attend the Community Presentations?

Just let us know via email or phone and we’ll send you a link to view a recording of the presentations online.

What are the steps in the sign-up process?

  1. Sign-up to our registrations of interest.
  2. Provide feedback via our surveys to help build a community you want to live in
  3. Attend our Assemble Model presentation or watch online
  4. Attend our project presentations or watch online to see the survey results, design, price lists, legal documentation and next steps
  5. Meet the architects or one of the Assemble team in to ask any questions
  6. From here, you will be provided with more information on how to submit an application for your preferred apartments and details on the ballot process to come.

What incentives are provided if I’m a home buyer who has bought previously?

If you are a home buyer (who has bought previously) and are eligible for the principal place of residence (PPR) concession you will pay a reduced rate of Stamp Duty if you decide to purchase the apartment.

 

What Stamp Duty or First Home Buyer concessions may be available to me under the Assemble Model?

If successful in the ballot, when signing the lease and paying the 1-month rental bond, you will enter into a contract of sale. The contract of sale gives you the right, but not the obligation, to purchase the apartment at the end of the lease term. By also entering into the contract of sale prior to construction commencing, the contract is able to be treated as an off-the-plan contract of sale and you may be eligible to receive the off-the-plan concession.

To receive the off-the-plan duty concession, you must be eligible for either the first home buyer duty exemption, concession or reduction or the principal place of residence (PPR) concession.

First home buyer duty exemption, concession or reduction
If you are an eligible first home buyer, the purchase price (OTP dutiable value) is less than $600,000, and you live in your apartment as your principal place of residence for a continuous period of 12 months following settlement, you may be eligible for full duty exemption. If the dutiable value falls between $600,001 and $750,000 a concession will apply on a sliding scale.

Principal place of residence concession
If you are not an eligible first home buyer, the purchase price (OTP dutiable value) is less than $550,000, and you live in your apartment as your principal place of residence for a continuous period of 12 months following settlement, you may be eligible for the off-the-plan duty concession.

First home owners grant
If you are an eligible first home buyer, the purchase price is less than $750,000, and you live in your apartment as your principal place of residence for a continuous period of 12 months following settlement, you may be eligible for the first home owners grant of $10,000.

For further information on the various concessions available please see the following links:

+     Off-the-plan duty concession
+     First home buyer duty exemption, concession or reduction
+     Principal place of residence (PPR) concession
+     First home owners grant

Please note, this FAQ provides general guidance as to the various concessions available and eligibility criteria but does not constitute formal advice. It is your responsibility to find out whether or not your particular circumstances make you eligible for the first home buyer duty exemption, concession or reduction, principal place of residence concession or first home owners grant.

I don’t live in Melbourne but would love to get involved – will your projects ever go interstate?

Although we don’t have a site interstate at present – we encourage you to watch this space!

Does the 1-month bond I already paid contribute to my deposit at the end of the 5-year lease?

If you choose to purchase at the end of the 5-year lease, the bond will be returned to you and can be put towards your deposit.

If I love my home and decide to purchase it, how and when do I buy the property?

You will be able to purchase your home after the 5 year and one-month mark by written notice within 14 days. A 10% deposit will be required, and you will need to settle on the property as you would any other property. You are unable to purchase the property any sooner than this.

What happens if the market value of my home is higher than the purchase price at the end of the 5-year lease?

If you choose to purchase your home, any increase in the market value of your home above the fixed price is potentially to your benefit.

Can I sublet a room within my apartment?

While we do not permit short-term rentals such as Airbnb, you can with Assembles consent sublet a room within your apartment (but not the entire apartment) whilst you remain living there. You can do this for more than 2 years, but not less 12 months.

What if my circumstances change during the 5-year lease? Can I sublet my my home?

If love or life takes you elsewhere, you can sublet your entire apartment with Assembles consent for up to 2 years in aggregate. We don’t allow subletting for more than 2 years and no less than 12 months to discourage short-term rentals within the community.

Does the rent I pay over the 5-year lease contribute towards the purchase price of my home?

The rent paid over the 5-year lease is market-rate rent and is not applied to the purchase price.