Are you ready?
Heritage Collection Coming Soon
Exclusively available through HomeSeeker SA at Fort Largs.
What homes are being released?
Our brand new Heritage Collection features a number of two bedroom, two bathroom homes, that overlook a future reserve. Located adjacent to Fort Largs' Historic Drill Hall, these new homes have been architecturally designed to seamlessly connect the past and the future. Your new Heritage Collection home will feel like the perfect balance between modern design with all of the latest fittings and fixtures included, while also boasting an appreciation of the site’s history.
As part of the Fort Largs masterplanned community, Peet has committed to delivering a minimum of 15% affordable homes through the Government HomeSeeker SA initiative. A 30-day exclusivity period applies to eligible buyers who meet the criteria set out by HomeSeeker SA.
Please ensure you carefully read through all the below information, are eligible to buy a home through HomeSeeker SA and have everything ready for when these homes are officially released.
How many Heritage Collection homes are available and when will they be released?
There are ten homes that will be released on Saturday 2nd July 2022.
When is the settlement date?
You will be required to settle on the land once the allotment has been created and your finance has been formally approved by HomeStart. The settlement date is anticipated to be in February 2023.
When is construction of these homes due to start?
Melisi Projects will be able to start building your home as early as possible after settlement, which is generally within a few months after, upon receiving all final approvals and building materials to site.
Do the Heritage Collection Homes have a backyard?
These homes do not have a backyard, however they do have spacious balconies, and direct access from the front door onto a future green landscaped reserve.
What will the Drill Hall be repurposed to?
This space is proposed to be transformed into a gym, yoga and Pilates space, with consultation rooms for healthcare professionals. These plans are currently still in the design phase, and will be subject to development approval.
How to purchase a home in 'The Heritage Collection'
The Heritage Collection is exclusively available to those who meet the relevant criteria. To purchase one of the Heritage Collection homes within the 30-day exclusivity period, you must meet both the HomeSeeker SA eligibility criteria and the Shared Equity eligibility criteria. Read below to learn more about the eligibility criteria.
What is HomeSeeker SA?
The HomeSeeker program is a Government initiative designed to help eligible South Australians buy their home.
Am I eligible to buy a home through HomeSeeker SA?
Only those who meet the eligibility criteria can purchase through the HomeSeeker program. Read through the criteria in the link below to find out if you are eligible.
How can I buy a home through HomeSeeker SA?
Understand more about how to buy a home through HomeSeekerSA in five easy steps.
Can I purchase through HomeSeeker SA with a sibling, not a partner?
Yes, they are classified as family. As long as all registered purchasers live in the home.
If I get a pay rise after I sign my contract, am I still eligible through HomeSeeker SA?
Yes, the income eligibility is reviewed at time of signing the contract.
What is HomeStart Finance?
Whether you’re a first home buyer or an existing home owner looking for a fresh start, HomeStart can help you get into your own home, sooner.
LEARN MORE
What is Shared Equity?
Shared Equity is a secondary loan through HomeStart that boosts your borrowing power to give you a greater choice of homes in a wider range of suburbs. Shared Equity allows you to borrow up to 25% of the purchase price as an interest-free and repayment-free loan.
What interest rates do HomeStart offer?
You will pay the HomeStart Rate on your Primary Loan, the exact rate will need to be confirmed directly with HomeStart. You do not pay interest on the Shared Equity component. Therefore, the interest rate may be slightly higher than some other lenders, but you are paying it on less of a loan – therefore it often works out to be a similar monthly repayment as a comparison.
If I have a higher deposit, what does this mean for me?
You may be able to have a smaller mortgage, and therefore your monthly repayments will be less. You can liaise with HomeStart to discuss in more detail.
Can I elect to vary the Shared Equity Component?
Yes, you can increase the shared equity component. Please have a conversation with HomeStart to understand how this could work for you.
Does Shared Equity apply to the total purchase amount for a home in the Heritage Collection?
Yes, at the release and during the 30-day exclusivity period for eligible purchasers. The financing package is a unique partnership between Peet, HomeSeeker SA and HomeStart. This partnership enables eligible purchasers who would usually be financially restricted to buying a home at the HomeSeeker SA price cap of $422,050 to buy these homes at the release price (starting at $470,000) with the additional shared equity component, provided to you through the interest-free loan from HomeStart. This finance package and exclusivity period is designed to help eligible people get into their own home in Fort Largs who otherwise may not be able to.
What happens after the 30-day exclusivity period?
After this period, if there are still homes available, they will be able to be purchased without requiring any eligibility criteria to be met. That means that you may be able to seek finance approval through other lenders without a shared equity. This would only occur if there were any number of homes in the Heritage Collection which were not sold during the exclusivity period.
What is the minimum deposit I will need to pay when signing my contract?
5% - but please contact our team if you would like to discuss a potential variation.
How can I be first in line to secure a Heritage Collection home?
You will need to ensure that you qualify as an eligible purchaser to enable you to attend the release day. To do this, you will need to:
1. Confirm your eligibility with HomeSeeker SA, and prepare a Statutory Declaration to confirm that you meet all of their criteria;
2. Speak to HomeStart to start your application for finance approval, for both the initial loan and the secondary Shared Equity loan;
3. Book an appointment or speak with the Fort Largs Sales team to complete a registration form, and to receive updates and the invitation specifically for the Heritage Collection release; and
4. Provide your HomeStart pre-approval and HomeSeeker SA Statutory Declaration to the Fort Largs Sales team by Wednesday, 29th June 2022, which will confirm your ability to attend the release day on Saturday 2nd July 2022.
Where can I get more information on the home buying process?
Peet has created a ‘First Home Buyer Toolkit’ with everything you will need along your home buying journey.
I have further questions about the above information, who do I contact?
HomesSeeker SA
HomeStart Finance
Fort Largs Heritage Collection Homes
*We operate under PEET ESTATES (SA) PTY LTD - RLA 217 912, and advise under the Form R3 of the Land & Business (Sale & Conveyancing) Act 1994 – that you are required to complete your own due diligence and research before you purchase. This information is an introduction only, and each individuals finances are unique and require independent expert advice. Please speak with the Fort Largs Sales Team, HomeSeeker SA and HomeStart Finance for further information and clarification.