February Construction Update

It’s always a bittersweet time to be wrapping up construction on a project and by the end of 2024 construction will be complete at Botania!

Already in the second month of the year for 2024, we have already achieved titles for stage 6 at Botania and settlements for this stage are underway. No doubt, we’ll soon begin to see houses popping up within this stage as well.

To all our Stage 7 purchasers, you are not far behind!
The finishing touches for the electrical communications phase are underway including the pending arrival of a substation which, once installed, will wrap up this phase of construction. Construction works will then move into the final phase of construction, Footpaths & Asphalt, which includes sealing the road, completing the footpaths, and laying the grass seeds for the nature strips.

Once complete, your stage will be ready to undergo the first round of checks to achieve Practical Completion (PC).

Construction in Stage 8 is up to the electrical and communications phase as well. The construction team are laying the essential electrical and communications pipelines to connect the services to each house lot. Trenches are dug parallel to the road network in the future nature strip reserves for all the varying pipes to be laid for the electrical, phone and internet supply.


In exciting news, construction will start on the Stage 7 park in early Quarter 2 this year!
Promising to be an impressive showstopper for the community, the future Stage 7 park, will be an impressive green space for all to enjoy. Encompassing a whopping 1.25 hectares, the park will include extensive open space to run around in, play soccer with the permanent goal posts, or set up a game of cricket. The large space will also be a pleasant space for picnicking and relaxing if that is more your vibe.


Excitingly, the park will also include a basketball half court, extensive play equipment and climbing structures to keep the older kids entertained. Plus, BBQ facilities, picnic seating under covered structures and a drinking fountain with a connected dog bowl to keep your pooch hydrated too!

See below artist impressions of what the Stage 7 Park, Pine Cone Park will look like.

Stay tuned for more construction updates coming soon!

For the most recent construction updates or to see a break down of your stage, head to the Construction Portal.

To keep up-to-date with the very latest construction and community news as soon as it is announced, be sure to like us on Facebook and Instagram.

To Build & Sell or Build & Rent? That is the question.

Botania in Fraser Rise is a fantastic location for property investment because of its prime location and wealth of amenities on its doorstep.

Close to schools, shopping, and transport corridors, Botania is connected to everything a family wants and needs.

The biggest question to ask yourself when buying your first investment property is whether to build and sell or build and rent the property out. Check out our news post below where we compare the pros and cons of both options.

The Benefits of Build & Sell

Make your money back more quickly

If you are a seasoned investor, or want an opportunity to build wealth more quickly, than this is the option for you!

This allows you to take your newly earned capital and reinvest in another place sooner or utilise any profits you make for a holiday, life event, car or paying off your own home loan.

No long-term maintenance

The Build & Sell option allows you to reap what you have sowed sooner. You also do not need to go through the effort of finding a real estate agent to list the property with or allow for any funds for ongoing maintenance, as these become the responsibility of the new owner.

The Cons of Build & Sell

Higher initial outlay
If you plan to build and sell the house once construction on your investment property is complete, than you also need to allow some funds to do this with which can be hard to come by after settling and all construction costs are added up. We recommend factoring these costs in when you are initially looking for your block of land and deciding which home to build.


Market Dependant

Building and selling is a great option to consider if the market is up and your guaranteed to get a great deal for the cash injection you have made into the investment property. However, when selling a property for profit, the timing this property is listed in the market can make all of the difference. Nobody wants to list a property that hangs around unsold for months on end that will continue to rack up costly agent fees.

If the market is slower moving, hanging on to the property and renting it out could be the way to go.


Capital Gains Tax

Capital Gains Tax (CGT) is the tax you pay on profits from selling assets, such as property.

By buying land and building a home you are adding value so it is likely you will have a capital gain when you sell the property. If you do have a capital gain, it will increase the tax you need to pay. You may want to work out how much tax you will owe and set aside funds to cover it.

The Benefits of Build & Rent

Make more money over time

If you want an investment property that you can sit and hold on to, allowing you to grow your wealth over time, then this is the option for you.

Properties that are rented out are not affected by the swings and dips of the property market. This means you do not need to worry about selling your property at the “right time”, in a great area, your property will always make a great rental return.

What is rentvesting?
Rentvesting is when people live where they want to live and purchase where they can afford. The rental income they earn helps them to pay down their mortgage on the investment property, allowing them to become a homeowner without having to change their lifestyle.

Tax Benefits of Investment Property

Everybody loves receiving a great tax return and this is one way to go about bumping it up.

Owning a rental property allows you to claim a higher depreciation on the home compared to owner-occupier homes.

All home maintenance work, repairs, and renovations you also undertake on the property will also be a tax deduction.

The Cons of Renting

Home Maintenance
All homes require a level of annual upkeep and that goes without saying for rental properties as well. Rental home maintenance and repairs are legislated in Australia meaning, there are works that are mandatory to be carried out on a regular basis. These include such works as fire alarm checks and gutter cleaning. These do benefit you, as the homeowner, to protect your home but it can feel odd paying for something that doesn’t serve you directly.

Being a landlord
This alone is enough to turn some people off from buying an investment property to rent. It can be a daunting concept letting unknown people live in a home that you have worked hard for. Thorough insurance cover is a must here to ensure that you’re fully protected in the unlikely event it is ever required. All insurances are of course also a tax deduction.
If it is an admin or time barrier for you, Real Estate agents act as a great middle person to do a lot of the leg work of listing the property and liaising with tenants for you and once that trust is built, can even inspect the property once tenanted for you on your behalf.

We hope you have found the above information useful of things to consider when buying an investment process.

If you are interested in purchasing an investment property and would like to chat to a member of our friendly sales team, please feel free to reach out on either of the following methods:

For Townhome Enquiries:
Phone: 0421 096 981
Email: townhomes@botania.com.au
View all available Townhomes

For Land Enquiries:
Phone: 1300 888 182
Email: info@botania.com.au
View available House & Land Packages 
View Land for Sale 

How to finance buying land and building a house

Purchasing property can seem like a scary prospect at the moment with higher interest rates and elevated building costs the talk of the town. Luckily, we are here to ease the burden and let you know you’re not facing these challenges alone.

In a dynamic housing market, you may find yourself asking what you can do to ensure you are finance secure and ready for the big purchase.

Here are some tips on what buyers should consider when financing a new home.

 Know the market. 

By now, we’re all very familiar with the Reserve Bank meeting on the first Tuesday of every month to decide if there will be another increase to the official cash rate.

Bank interest rates are determined by the Reserve Bank and are set as a means to control inflation, which the Reserve Bank likes to sit around 2-3%. The current climate of high inflation has led to the Reserve Bank continuously increasing the cash rate over the past year to curb consumer spending.

With the current marker of inflation at 7% (May 2023), the RBA board has stated future increases remain likely as it is expected to take some time before inflation falls back within its preferred range.

Higher interest rates impact purchasing property in a few ways, with the biggest impact to purchasers being an impact on their borrowing capacity, decreasing their overall budget and purchasing power.

What is stress testing?
When seeking preapproval from a bank for a mortgage, the bank will simulate different scenarios to ensure the borrower is able to continue to make their mortgage payments in case there is financial turmoil, the interest rates go up, or any other event that befalls the borrower that could potentially decrease their purchasing power. Stress testing is commonplace, but as interest rates rise, the stress testing becomes more severe leaving many with the inability to secure a loan at all.

At times, some banks will lend up to 95% and sometimes even 100% against the security of another residential property. At periods of high inflation, borrowers are unlikely to pass stress tests with only a steady job and little capital behind them.

The Australian Prudential Regulation Authority (APRA) has also recently tightened lending rules, reducing the maximum amount Australians can borrow from the bank to buy a property.

How to negotiate a lower interest rate?

Negotiating a lower interest rate is less about your skill in the art of persuasion and more a reflection of diligent saving and healthy financial habits.

A bank will look more favourably upon you the fewer commitments you have. This involves consolidating debt by looking at your subscription services, reducing the number of credit cards and Buy Now, Pay Later schemes.

To the bank, the less money you can live on monthly to support yourself, the more money you’ll have to surpass stress tests.

Banks will review a minimum of 3 months of living expenses to ensure you can comfortably meet your mortgage payment, so, start practicing those healthy habits now.

A common oversight of many firs time home buyers is the effect a constant income and residence can have on borrowing capacity. Recent Australian data confirmed that the labour market remains very tight, with the unemployment rate at a near 50-year low. From the outlook, this can appear like a savvy time to change jobs, however regular or a recent change of employment as well as a residence may be considered unstable from a lender’s perspective and can negatively impact your eligibility for a home loan – even if your new job was offering more money!

The actual costs of buying a house

If you are a first-time buyer, knowing the full cost of buying is essential to avoid any nasty surprises. It’s more than saving a 20% deposit which is the common catch phrase. Beyond the down payment on the land and the build, there are extra expenses to consider when buying a home, including stamp duty, conveyancing fees and council rates. 

It is important to take these associated costs into consideration to help ensure you have a more accurate understanding of your purchasing power and you are searching for suitable house and land packages.

What does a mortgage broker do?

Using a mortgage broker can be a great asset to the home-buying process, providing insight into the different types of loans available and their features.

When purchasing house and land, lenders will typically offer Variable Rates during the land purchase and construction phase, allowing you to Fix the Rate upon construction completion.

> Variable Rates offer flexibility regarding repayments and allow fee-free access to additional loan repayments. However, the applicable rate is exposed to the market rate and Reserve Bank, potentially leading to increased repayments you may not have budgeted for or have any control over. On the other hand, in a reducing rate market, your mortgage payment can decrease. 

> Fixed Rates guarantee peace-of-mind with a fixed mortgage payment for the agreed term period. Although, there are restrictions on additional repayments that can be made, access to additional repayments is usually not allowed and may not be eligible for a home loan with an offset account.

Enlisting the help of a mortgage broker will run you through the pros and cons with either option, helping you to consider all the features and benefits to make an informed decision.

We have teamed up with a highly experienced mortgage broker – Bill Jara, a Senior Lending Manager at Loan Studio who specialises in residential mortgages. He can assist you and answer your questions about how construction loans work and how you can finance your new home.

Call Bill on: 0466 896 029 or email: bill@loanstudio.com.au.

Want to chat to a member of our team? Our friendly sales team are always happy to help answer any queries you may have.
If you wish to speak to our sales team, please feel free to reach out on either of the following methods:

Phone: 1300 888 182

Email: info@botania.com.au

View available House & Land Packages 

View Land for Sale 

Refer your friends and family to Botania and be rewarded!

With the final land release in our flourishing community now selling, time is running out to secure your place in Botania.

And there’s no time like the present! 

Be referred by a friend or family member who has already purchased within the Botania community and you will earn them $3,000!

Whether you’re a first home buyer looking to enter the market or a growing family looking to settle down, you’re sure to find the perfect lot or house & land package to suit your lifestyle. 

Just 5 minutes from Caroline Springs and 25kms from Melbourne’s CBD, Botania brings quality education, transport corridors and new amenity to your doorstep. 

Choose your perfect lot and create your dream home alongside some of Australia’s leading builders in a safe and welcoming community. Embrace an active, outdoor-oriented lifestyle where bike trails, walking paths, sporting reserves and natural open spaces are all within arm’s reach. 

Secure premium real estate in Fraser Rise and start your next chapter at Botania.

To claim this offer, please contact our friendly sales team on 1300 888 182 or via email at info@botania.com.au

View Terms & Conditions

Maintaining your Property

Growland encourages the regular maintenance of all properties within the community to improve the visual amenity of our Botania community in Fraser Rise. Overgrown and neglected vacant lots are not only unsightly but can also attract pests like rats or snakes. As well as looking after the community we live in, maintenance of all properties reduces fire and health hazards and helps to ensure public safety.

Unfortunately, the dumping of rubbish and building materials is common in new communities under construction. Growland is aware of these instances throughout the Botania community and does what it can to mitigate this illegal activity by installing signage and security cameras throughout the estate.

As the owner of your very own piece of the Botania community, you can help prevent this unwanted behaviour by securing and maintaining your lot.

Please organise temporary fencing for your lot to prevent the dumping of rubbish as soon as possible upon settlement. It is a costly exercise, for you as the homeowner, if clearing is needed prior to the construction of your home.

Even if you are not planning on constructing your new home in the Botania community straight away, it is still important to secure your property.

It is also your responsibility to maintain the vacant land to an appropriate standard. Vacant land is to be kept clear of any fire hazard, noxious weeds, box thorn plants, litter and rubbish, which could include concrete, dirt mounds, rocks and rubble.

Overgrown grass can be a fire hazard and must be maintained to a height of no more than 150mm all year round. Regular mowing or slashing is recommended.

We encourage vacant landowners to inspect your property regularly to ensure that these outcomes are achieved.

Melton City do undertake their own regular surveillance of new communities and will issue notices to any property that is deemed to not comply. You may also be issued an infringement notice if works are undertaken on your property on your behalf.

We thank you for your committment to the above as it will help make Botania a safer and more beautiful community for all to enjoy.

If you do see anyone illegally dumping within the Botania community or any properties that are unkempt or pose a risk to public safety, please report the activity to Melton City Council Local Laws on (03) 9747 7200.  

Navigating your way through building terminology

Building your dream home is an incredibly exciting, and usually a once-in-a-lifetime experience. It can also be a complex and confusing journey as you are likely not to have been through the experience before. Along with learning all sorts of new concepts, there will be a bunch of technical industry terms and lingo that you’ll also have to familiarise yourself with.

Below we have compiled a list of some of the more common terms you’ll likely encounter when purchasing house & land. Understanding a few of these terms will hopefully help you feel more at ease with the process.  

However, if ever you need clarification our friendly team here at Botania are always here to help.

Developer’s Guidelines – The Design Guidelines (DG’s) are a document that has been prepared to assist landowners and builders to achieve objectives surrounding building consistency. They cover design and materials requirements that are set out to support the quality and streetscape of the development to protect the amenity of the estate and the investment of the landowner.
These Design Guidelines may be amended on occasions at the developer’s discretion as they are subject to council approval and reflect changes in design trends or to coincide with the release of later stages. Landowners are required to submit their proposed building plans through the Design Review Committee (DRC) for approval which is assessed against the current version of the Design Guidelines. All applicants should review these Design Guidelines in conjunction with their land Contract of Sale. A copy can be found in both your contract of sale and is also available on our website here.

Setback/Building Line – Dwelling setbacks have been implemented to create articulated streetscapes. The Building line refers to a line parallel to the lot line and at a distance from the lot line to comply with the yard and setback requirements of the City Zoning Code, or any restriction on the lot which identifies a line on the lot as a building setback line. It also means the minimum distance a structure must be setback from a boundary.

Lot Number – The lot number refers to the identifying number the lot has been allocated before the Plan of Subdivision (POS) has been registered. Once the plan of subdivision has registered with the Titles Office, the street address takes over as the identifiable and legal name of the block.

Fill – Fill refers to the amount of earth that has been added to the lot or stage determined by engineers to guarantee the stability of your block.

Fall – Fall refers to the slope or gradient of the lot. 

Crossover – Also known as a driveway, this is the area where your property will interface with the street and footpath. You are not permitted to build on the crossover. 

Easement – An area of a property that indicates where sewage and drainage services are located, generally towards the rear of the block but can also run along the side of a property. This area must remain free from development to allow for ease of access to these services. There is usually a setback (see above definition) requirement in place surrounding an easement. 

Boundary – A line that divides one area from another such as a boarder. Also, this could be a side boundary which means the boundary of a Lot that runs between and connects the Primary Frontage of a Lot to the Rear Boundary of a Lot.  Or a construction boundary, the line beyond which the construction buildings and /or construction works must be within.

Recycled Water – Also referred to as Reclaimed Water this refers to treated or recycled wastewater of a quality suitable for non-drinkable uses such as landscape irrigation and water features. This water is not intended for human consumption.

Fibre to the Home – Is the Fibre Optic telecommunications cables connected to each home to ensure the delivery of the high speed broadband network to each home.  There are two main network connections being NBN and Opticomm depending on your estates’ connectivity location.

Soil Test– A soil test determines the quality and type of soil that your lot contains. The soil type and quality determine the type of foundation your house will require.  Your builder will take care of this when preparing for the construction of your home. A soil test may take place once a Stage has been granted Statement of Compliance (SOC).

Soil Test– A soil test determines the quality and type of soil that your lot contains. The soil type and quality determine the type of foundation your house will require.  Your builder will take care of this when preparing for the construction of your home. A soil test may take place once a Stage has been granted Statement of Compliance (SOC).

Soil Test– A soil test determines the quality and type of soil that your lot contains. The soil type and quality determine the type of foundation your house will require.  Your builder will take care of this when preparing for the construction of your home. A soil test may take place once a Stage has been granted Statement of Compliance (SOC).

Statement of Compliance (SOC) – Each Stage must undergo an approval process with the authorities and counci; to ensure it meets regulatory requirements. Once a Statement of Compliance has been achieved a stage can be lodged at the Titles Office.

Practical Completion (PC) – Practical Completiton signifies the completion of all major construction works. The construction team confirm the stage is ready for Statement of Complaince checks to begin.

Site Costs – refers to the cost of preparing your block of land for building. Site costs are dependent on the fall/fill and soil testing report of the block as this determines the engineering requirements for the foundations of the home.

Settlement – Is the official process that is carried out by both purchasers and vendor’s and their conveyancers/solicitors and financial institution on their behalf. At settlement, you as the purchaser, are required to pay the balance of the purchase price through your lender (being your loan) which enables you to take possession of the property. The property title is then transferred into your name as the legal owner of the property.

Lot Pegs – Also known as ‘survey pegs’ or ‘boundary pegs’ are placed at each corner of your lot to identify your land boundary from others. These are used throughout the valuation process and when your builder first begins construction on your block.

Valuation Inspection – Your elected financial institution will order a Valuation Inspection when you are in the final stages of finalising your loan application. Your elected financial institution performs an inspection of the lot to confirm its value. This occurs when the stage is in its Practical Completion (PC) phase. We will alert both you and your conveyancer when access is allowed to perform a valuation inspection.

Anticipated Title – The expected or likely date a stage will receive title registration from the Titles Office. 

Titled vs Untitled Land- Titled means the land is officially registered with the Titles Office. This process involves creating individual titles for each house block (or street addresses). The parcel of land that houses your stage changes from being listed under one title (the developer) to having many titles (you and your neighbours). Once the land has titled, you may begin construction of your home.

Conversely, Untitled land is unregistered land that is sold off the plan while construction of the land is yet to be completed and before it can be registered with the Titles Office. Untitled Land can be presold at varying times before the anticipated title date and is usually presold between 12 – 18 months from the anticipated title date. The longer the sell date is from the anticipated title date, the more time you have to save, decide on your builder and finalise your building plans and permit.

Small Lot Housing Code: also known as SLHC –  Lots that are less than 300m2 fall into SLHC requirement.  The code was introduced to remove the need for a planning permit with a clear set of house design and siting standards including requirements for setbacks, building height, provision for car parking and private open space, overlooking/over shadowing and building articulation that are required to be met.

Depending on each council, the SLHC has been split into Type A and Type B.  This is to allow maximum use of your lot. Please see below image for further explanation.

The Botania Sales Team are happy to help by answering any queries you may have as you embark on your building journey and wish to make it as simple, easy and exciting as it should be.

If you wish to speak to our sales team,  please feel free to reach out on either of the following methods:

Call today on 1300 888 182 or email info@botania.com.au.

End of Year Construction Wrap Up

The end of the year is fast approaching, and it has been a busy one at Botania.

Below we recap what milestones we have achieved throughout the year and provide an update on the construction progress of your stages. 

We cannot believe we are currently selling our final stage with only a few final lots remaining. If you know someone who would like to join the Botania community, tell them to get in quick! You can view our final remaining lots here all with a bonus $5,000 Landscaping Incentive included. 

2022 started on a high for Botania with the opening of its first local park, Friendship Place Park. The park has been a welcome addition to the community and a much-loved feature as soon as council gave us the go ahead and the temporary fencing came down. The bright green custom-built tower with two slides and is over 7m high, making it visible around the community, and definitely adds to the excitement as you pull up for a play on the equipment, a kick on the open grassed area, or for a BBQ with friends and family.  

Construction work continued around the community and the most memorable was definitely the humongous and seriously coordinated construction effort of the culvert. Within the Botania community, all residents will have access to a picturesque waterway reserve connected to Kororoit Creek. This waterway, running through the centre of the community, inadvertently separates the Botania community into two portions.  The culvert, or bridge, will reconnect the halves as it allows water in the waterway to flow underneath, whilst traffic and residents pass over on top. If you missed the culvert update earlier in the year, you can find it here alongside some drone footage of the construction process.  

Botania also welcomed its first builder to its Display Village this year with two brand new display homes by award-winning, premier builder, Mimosa Homes. The Botania Display Village will feature 12 homes by 6 builders, with more homes opening next year.  If you’d like to find out more information about the two Mimosa display homes, you can visit Saturday to Wednesday or take a sneak peak at the homes here

Read on below for a stage-by-stage progress report on the works occurring in your community.

Stages 4 & 5

Stages 4 & 5 will be the next stages within the Botania community to welcome new residents who can begin settling and construction of their own homes in the new year.

Currently in the final stages of construction with Kerb and Asphalt works continuing, the layers of the road network are now in place and the construction team have plenty of concrete to lay as the kerbs and channel (or gutter system) are added at the correct road levels and then finally asphalt, which can be seen on the finished surface. Once complete the construction team will install Electrical & Telecommunications for ease of access for authorities to manage these services in the future.

Stage 4 Kerb and Asphalt works

Construction is forecast to be completed late Quarter 1 before Practical Completion is awarded and Statement of Compliance testing and approvals can be issued from the authorities. To all future Stage 4 & 5 residents, we will keep you updated on this process and what is required from you as we get closer to titles in the new year.

Stage 5 Kerb and Asphalt works

Stages 6 & 7

Sewer works have recently been completed in Stage 6 and drainage works have commenced. The drainage works will involve the construction of all stormwater pipes and pits throughout the stage that will allow the safe draining of all stormwater away from all house lots preventing flooding. The road network has now been outlined throughout both stages and the construction team will continue to prepare the ground and start to construct the lower layers of the road pavement. Sewer works are currently underway  in Stage 7.

Stage 8 is our final stage at Botania and bitter sweetly is also now underway.

Council and the authorities have accepted all plans including engineering design to allow physical works to commence on site. That means our construction crew have been given the green light to head to site and begin preliminary works on Botania’s final stage.

These works include organising the construction crew and setting up the building site with all the correct health and safety measures in place.

Civil construction can then kick off with the next round of tasks including setting up temporary fencing and performing a general clean-up of the site before civil earthworks begin. This also involves the demolition of the existing house that remained from the previous owners.

Stage 8 Preliminary Works

The above preliminary works are well underway, and our team are looking forward to commencing earthworks in stage 8 shortly.

Botania is geared for another big year in 2023 with 4 stages due to title. We are looking forward to focusing on the delivery of these stages throughout the year and welcoming many new residents to the Botania community. 

The Botania Construction Team will be taking a well-earned break over the holiday season and will be back on-site continuing work on your community mid-January. 

Stay tuned for more updates in the new year!

 To keep up-to-date with the very latest construction and community news, be sure to like us on Facebookfollow us on Instagram and look out for the monthly construction portal update post that will allow you to monitor your stages’ construction progression.

Join the Botania community with only a 5%* deposit!

Here at Botania all you need to secure your lot is an initial deposit of $1,000! This secures your land whilst you review your contract with your conveyancer.  The balance of the 5%* deposit is required within 7 days upon signing your land contract.

Take your first steps towards a beautiful life in Fraser Rise with a variety of land sizes and house and land packages available to suit all stages of life and budgets.

Now selling our final stage including a $5K Landscaping Rebate, this is the time to get in quick to start your next chapter at Botania.

View Land at Botania

View House & Land

Discover the exciting community of Botania in Fraser Rise, conveniently situated 5 minutes from Caroline Springs. Botania is your opportunity to join an established community surrounded by quality education, natural open spaces and new amenity.

Start your next chapter at Botania.


Want to know more about how you can join the Botania community?

Our friendly sales team are happy to help answer any queries you may have.
If you wish to speak to our Botania sales team,  please feel free to reach out on either of the following methods:

Phone: 1300 888 182

Email: info@botania.com.au

*Not available for FIRB purchasers

Saving for your deposit

Saving for you first home is no easy feat! Thankfully, we have some tips and tricks to help you on your way.



Review your finances It’s time to look at what’s going in versus what’s going out. Are you living above your means? You probably have an idea about where you are sitting already.
Review what you spend your money on. Is there room for you to cut back in any way? Those coffees add up! Lunch out adds up. Find what it is for you and come up with a plan to address your squeaky wheel.

You could purchase a coffee machine and make yourself barista quality at home. You can then put it in your fancy keep cup and take it to work with you.
Compromise to only eat out once a weekend and do anoter activity with friends instead.
If you are always tempted by Ads, it’s probably a good idea to remove your most tempting brands from your social feeds for the short term.

Lenders do go through your bank statements so if the spending looks reckless, they are going to look at your application less favourably.


Credit cards
They sound amazing but did you know when applying for a loan banks and lenders assume you use the entire credit limit each month?
This means even having one in your name, even if it is just for “emergencies” means you have an automatic amount of debt against your name.  
If it isn’t absolutely essential for you to have a credit card, getting rid of it before you apply for a loan, reducing the limit, or transferring the balance to one with a lower interest rate, will help to improve your borrowing capacity.  And be sure to always pay off your credit card on time!


Buy Now Pay Later
It’s lay buy but with a twist where you get the goods first and pay the balance off later! Too good to be true? Sadly, yes.  It’s another factor lenders will be looking out for when they assess your home loan application. It doesn’t send the right message to the lender as you should be able to afford to pay for the things you need to buy in full at the time. It’s also super easy to rack up a lot of debt here really quickly which doesn’t signal that you’re particularly good at managing money or a home loan. A good rule of thumb is; if you can’t afford to buy it twice you can’t afford it at all.

Subscriptions
Now that you’re committed to saving, it’s a good time to check your savings bucket for any holes – aka, subscriptions. Those expenses that are coming out of our account unnoticed that you really aren’t getting much value for.

Do a review of all direct debit subscriptions that are
coming out of your account. Which subscriptions are you actively using and
which ones could you honestly do without. Many of us signed up to a streaming
platform (or two) throughout lockdown. During lockdown that made perfect sense
because we were all at home way more than we wanted to be (and using these
platforms way more than we would like to admit).

Now that we are back out socialising, like the
social butterflies we are (not too much because we are saving) we may not be
getting much value out of them. Firstly, if you have multiple streaming
services; make a decision to stick with one and cut the rest. The beauty of
these services is that you can binge one show on one platform one month,
suspend and watch another show on a different platform the month after.
Put a date in your calendar each month (just before the renewal) where you look
at your calendar for the month ahead and make a judgement if you will use it this
month. Suspend if you’re going to be busy and keep if you’re planning to have a
quieter social month. Plans fall through? You can resubscribe in an instant.  

Having a regular check in like this will make sure
you’re not paying for it whilst off on a holiday too.


Another common one for a lot of people are gym memberships. Summer is coming but honestly reflect on how much you are using this service. Gym memberships are a little more complicated in that they cannot usually be suspended and unsuspended without going through paperwork – which they know is cumbersome and why they do it to keep your money rolling in!
If you’re booking classes via an app, you should be able to go back through your app to see how often you went over the last month.
Now, divide that number by your monthly charge. Is it worth it? Is that the value you wanted to be getting from this service?
Noone is saying quit the gym but there might be a more value driven option for you. If you are a really sporadic gym goer a casual membership might be the way to go. These one-off passes seem more expensive but if you only get to the gym once one week and three times the next, you’ll be saving money overall. The other great thing about lockdown was that a lot of people uploaded a lot of free exercise content online. Plus, with the weather getting warmer you might find you have more motivation to wake up early and go for a walk or run instead. Being in nature is an added benefit for your health too!

We hope these tips will be beneficial to your savings goals. Stay tuned for more updates coming soon!

Our friendly sales team are happy to help and answer any queries you may have.
If you wish to speak to our sales team,  please feel free to reach out on either of the following methods:

Phone: 1300 888 182
Email: info@botania.com.au