Building on confidence
TOWNSVILLE builder Martin Locke Homes has acted on emerging positive signs in the property market by starting construction on a spec home that will see the business take on the full financial risk of construction.
The house will be the sixth display home constructed by the company over its nineyear history.
Managing director of MLH, Martin Locke, said the step was a testament to his confidence in Townsville’s property market.
“This is a big step for our small team, but we have faith in our ability to deliver and we’re confident buyers will recognise the care, quality, high level of inclusions and the accessible points of difference the home will offer,” Mr Locke said.
“We are feeling confidence gradually returning to the Townsville region and if local businesses are investing confidently in our community it can only be a positive.
“Our team has taken care of all of the construction decisions and admin so it’s stressfree and it’s also low risk because the buyer will see what they’re investing in before they purchase.”
The four-bedroom home is being built at Elliot Springs, situated among a mini MLH community including four other custom-home builds with mountain views.
The home will include MLH’S inclusive living features such as no steps into and throughout the home, the signature MLH rebated alfresco door, larger step-free showers and wider doors and halls.
Townsville mortgage broker Deb Box said purchasing a spec home can be less taxing financially, particularly for first home buyers or those who are already paying rent or mortgages.
“As opposed to signing a residential construction contract, which requires staged payments from your bank and therefore you to make mortgage repayments during the build, with a spec home you pay nothing until the contract settles and you move in,” Ms Box said.
“If you qualify for the First Home Owners Grant. then $15,000 may be able to go towards your deposit and stamp duty exemptions, and concessions also apply for most buyers if the home will be your primary place of residence.”