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Regardless of whether you’re a first time buyer, a property investor, or someone looking to downsize, saving for a property deposit can sometimes be a struggle. But if you thought it was impossible, think again.
Your dreams of owning property in Newcastle are now more achievable than ever, thanks to Third.i Group supporting the local launch of Coposit, a revolution to buying property off the plan.
A fee-free, app-based service, Coposit empowers you to purchase a brand-new property with just $10,000 in savings. Think it sounds too good to be true? It isn’t. Once you’ve saved the initial sum, you simply pay off the remainder of your property’s deposit via weekly repayments, called “coposits”.
Describing the service as less of a loan and more of a bespoke savings plan, Coposit CEO Chris Ferris says the revolutionary service flips the new build deposit on its head.
“The deposit barrier is a major issue for Australians right now, so Coposit is helping create a more level playing field for first time property buyers,” Mr Ferris said.
Not only does Coposit allow you to get started on the road to owning a home with less savings than you thought you needed, it may also help you save more in the long run. By securing a new development property before building has commenced, individuals can invest in property for far less than the higher prices homes tend to hit the market at once they are completed.
Eager to assist Hunter region locals with a leg up into the market, property developer Third.i has partnered with Coposit to introduce the service to buyers who are keen to secure an apartment in the newly-proposed Dairy Farmers Towers – a consciously-designed construction of 184 one to four-bedrooms apartments across two lofty towers in Newcastle West.
Speaking to the partnership, Luke Berry said his company is getting behind Coposit as a way to help people-particularly younger people and first-time buyers-to get onto the property ladder. Testament to their support of the service’s philosophy, Third.i will also contribute to Coposit’s costs to keep it free for those who need it most.
Offering a limited number of apartments, the Dairy Farmers Towers development will provide future residents with unparalleled views of Newcastle and its beaches. Its interior design will also incorporate communal green spaces, as well as shared facilities such as a gym, a cabana pool area, a wine bar, and function rooms.
For many, buying into developments such as Dairy Farmers Towers feels more like a real estate dream that may never come true. But by collaborating with Coposit, Third.i hopes to turn more of these dreams into realities.
“We have already sold 100 apartments in our project and are confident Coposit will quickly generate more sales for the remaining ones, so we encourage people to register so they don’t miss out,” Mr Berry said.
Although buyers from the Hunter and other parts of Australia have already started to embrace this iconic development, there’s still time to secure one of its apartments to call your own.
With Coposit, all you have to do is browse available residences in the Dairy Farmers Towers, submit your enquiry for a property online, and then pay and manage your deposits-or even exchange contracts-digitally, from anywhere in the world. Financing a home has never been so flexible, nor complication-free.
With the redevelopment of Dairy Farmers Corner, in the words of Mr Berry, a landmark will be reborn to create a new chapter in the West End’s growth. With the local launch of Coposit, there is now more opportunity than ever to call a piece of the iconic Towers yours to own.
To learn more about Dairy Farmers Towers and Coposit, they are holding a special event on Thursday 24 March where you’ll hear from the experts about how Coposit works.
- Hear from the team at Thirdi and Coposit about how Coposit works and secure your property
- Thursday 24 March
- West End Display Suite (17 Charles St Wickham)
- Drinks and nibbles provided