Frequently Asked Questions
Q: How do I find available OwnPlace blocks?
A: The remaining OwnPlace blocks we have available are listed here on our website.
Q: How do I buy an OwnPlace house and land package?
A: Contact our office during business hours on (02) 62425200 or send an email to info@ramconstructions.com.au
Q: How do I find out if I am eligible to purchase an OwnPlace package?
A: You can view the criteria and the Application Form for the Home Buyer Concession Scheme at ACT Revenue by visiting www.revenue.act.gov.au/home_buyer_assistance/home_buyer_duty_concession or contacting the ACT Revenue Office on (02) 6207 0028.
Q:What is the difference between attached and detached Housing?
A: Detached Housing is a housing type that stands alone and does not generally share any common walls or roof structures with neighbouring dwellings. Attached Housing is a housing type that shares a common wall or roof components and is attached to another house on at least one side.Q: When do I pay for my OwnPlace Package?
A: You will be required to pay:
(a) a part deposit to the LDA in the amount of $5,000 at the time of signing the Land Contract, with the balance of the land price payable at settlement of the Land Contract, at which time the Crown Lease will be granted; and
(b) a part payment to us as your Builder in the amount of $5,000 at the time of signing the Building Contract with the balance payable in accordance with the Building Contract.
The balance payable on settlement of the land contract can only be paid by bank cheque.
Payment under the Land Rent Contract is not required if you elect a Land Rent Lease (only available for detached housing).Q: What is the $328,000 threshold?
A: This is the new threshold amount for an Affordable House and Land Package under the ACT Government's Affordable Housing Action Plan. This threshold amount is determined annually, generally to accord with the Consumer Price Index.
* Variations requested by the Buyer after the building contract is signed may increase the price.
Q: What is the three year clause?
A: As part of the ACT Government’s Affordable Housing Action Plan, Crown Leases (Leases) granted over land that is purchased through the OwnPlace program will be subject to a three year restriction on transfer.
This means that if you select an OwnPlace Package, you will not be able to sell your home for a period of three years from the date the Land Contract is completed i.e. settlement date. If you wish to sell your home within three years of the date the Land Contract is completed and the Lease is granted, you must obtain consent from the ACT Planning and Land Authority (ACTPLA) before the Lease can be transferred. ACTPLA will only consent to the Lease being transferred if your personal circumstances satisfy specified hardship criteria.
In addition, we remind you that to meet the requirements of the Home Buyer Concession Scheme, you are also required to reside in the property as your principal place of residence for a continuous period of six months starting within one year of the date the Land Contract is completed.
Q: When is duty payable?
A: Stamp Duty is payable prior to settlement of the Land Contract. For queries relating to the assessment and payment of duty please visit ACT Revenue at www.revenue.act.gov.au/duties/ or contact the ACT Revenue Office on (02) 6207 0028.
Q: When will I be required to settle my land contract?
A: Settlement is due 42 days from the date Land Contracts are exchanged
Q: Do I need a solicitor?
A: Both RAM Constructions and the LDA strongly recommend that you obtain independent legal advice prior to entering into the Land Contract and the Building Contract. You should also ensure that you have made all necessary financial arrangements prior to entering into the contracts. We will be asking to see that you have
Q: Who is the LDA's nominated solicitor for the OwnPlace program?
A: Chamberlains Law Firm
Ph: (02) 6215 9100
Fax: (02) 6215 9199
Q: What is included in my house package and can this be changed ?
We are able to offer a choice of upgrades which include two possible floor plan changes . These changes need to be made and signed off prior to the start of construction.Q: What is a variation?
A: Variation is an alteration to the building works in the Building Contract, whether by addition or deletion, after the Building Contract is entered into.
Q: What is conveyancing?
A: This is the process and documentation involved with transferring ownership of the land from the Seller (also known as the Vendor) to the Purchaser.
Q: Can I access the Land Rent Scheme?
A: You can access the Land Rent Scheme for Detached Housing only. For further information on the Land Rent Scheme please visit www.actaffordablehousing.com.au and contact your solicitor.Q: How long will it take to build the house?
A: Before we can commence construction on your new OwnPLace home, we will provide you with the Land Contract so you can purchase the block directly from the LDA. This process generally takes between 45 – 60 days depending on your bank. Once you have settled on the land, we can proceed to get the Building Plans approved and then begin building for you. We expect the construction time to be 6 months (subject to the provision for weather and other delays)