Building a real family home with space for mum

Canberra resident Jessica has found the meaning of a true family home in the new suburb of Moncrieff.

Around Australia, there’s been an increase in homeowners building granny flats on their land. The benefits are many: it can provide a home office, generate rental income, or provide accommodation for family members. Canberra resident Jessica is just one of the many savvy homebuyers including a granny flat in her home from the outset.  

“When my husband and I decided to buy our first home, we wanted not only to have something for ourselves but also for my mum,” says Jessica.

“My mum is getting on, and I believe this is the best and easiest way to look after her, rather than visiting her in a unit somewhere.”

Located in the new suburb of Moncrieff, a new suburb on the far northern edge of Gungahlin, the new property has plenty of room for Jessica’s mum to enjoy her own space, with bedrooms, bathrooms and a kitchen of her own.

Jessica and her husband are purchasing the house and land package from Canberra’s Land Development Agency (LDA).

“It all happened so quickly – it took just three weeks from when we first spoke to the real estate agent to when the mortgage was approved and contracts were signed.”

With a quick settlement on the cards, the couple worked with a mortgage broker to arrange finance and decided to use a deposit bond to secure the contract. Jessica remembered Deposit Assure, a fast-growing Australian provider of strong deposit bonds.

Back when Jessica’s mum was looking to buy a unit, she got in touch with Deposit Assure to find out how they could help. While that purchase didn’t go ahead, Jessica remembered how helpful the Deposit Assure team had been.

“So I got back in touch with Etienne at Deposit Assure and asked if they could do anything,” recalls Jessica.

And they did. Deposit Assure worked with its underwriter QBE, one of Australia’s oldest and most trusted insurers, to arrange a deposit bond. Because QBE is an ‘A+ Stable’ credit rated company, Deposit Assure is able to provide certainty to developers that its bonds will be honoured.

For Jessica, the process was quick and simple thanks to Deposit Assure’s Concierge Service.

“The team at Deposit Assure worked really hard on our behalf and we had approval in just two days,” she says. “From my end, the whole process has been easy. I didn’t have to fill in piles of forms and paperwork. Deposit Assure took care of the whole application for us!”

Now Jessica is looking forward to moving into her new property, the first house she has purchased and her new family home.

“Ever since I moved out of home, I’ve rented so I’m looking forward to being able to paint a wall without getting permission first!”

 

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