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    Home»Buying»Is buying off-the-plan right for you?
    Buying

    Is buying off-the-plan right for you?

    August 20, 2026No Comments4 Mins Read
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    When Reza Chen and his partner, Rika, began organising their wedding, they also began thinking about where to buy their first home.

    So, in between searching for dresses and venues, they spent hours online looking at new developments or established city apartments that they could call home.

    It was an important decision and they took their time to consider exactly what they wanted.

    Have you considered all of your options?

    A city location, plenty of space, a modern design, quality appliances and good amenities were all high up on their wishlist.

    “We looked at a series of developments, including the St Boulevard development,” says Reza, 32.

    Magnolia Residences

    The St Boulevard development has a central location, which was a key consideration for the couple.


    “We were considering buying either an off-the-plan property or an existing property, but we couldn’t find anything we liked that was already built and suited our budget,” he says.

    “We both liked St Boulevard and it was within our budget, so we purchased an apartment at Magnolia Residences.”

    What are the benefits of buying off-the-plan?

    Buying off-the-plan can have several benefits including modern features, the peace of mind knowing that no one has lived in it before, cost savings, customised finishes and fittings, a flexible floor plan and having additional time to save money.

    These were all considerations for Reza and Rika, too.

    Magnolia Residences

    Modern features and the fact that no one has lived in these apartments before are other key selling points.


    “I like the shape of our apartment,” says Reza.

    “Our current apartment in Southbank belongs to my parents and it’s slim and elongated whereas our new home is a squarer design and the kitchen, living and dining area is open-plan,” says Reza.

    See also  How to keep your eye on the prize when saving for a home

    “It feels more spacious and the two bedrooms and bathrooms are also a generous size.”

    Does apartment living suit your lifestyle?

    Apartment living isn’t for everyone, especially if you’re used to a house with outdoor space. However, modern developments are often spacious and incorporate elements like a rooftop garden, or wrap-around balcony.

    Reza, who works in banking, moved to Melbourne from an apartment in Perth’s CBD in 2013. Rika, 30, is from Indonesia and, like her husband, prefers apartment living – and particularly somewhere with a resort-style atmosphere.

    Magnolia Residences

    The open-plan design makes the apartment feel spacious.


    Their new apartment development has a central community garden with a pool that winds its way around three signature trees.

    What amenities are important to you?

    A private dining room, wine bar, reading room, health club, spa, cinema, gym, pool tables, theatre and even a karaoke pod are also available to residents.

    “My wife loves the resort-style vibe. We travel to Bali a lot and the community area has that relaxing feel. We can entertain guests there too,” says Reza.

    Magnolia Residences, St Kilda Road, Resort Style Living, Pool

    Discover every corner of the tranquil garden.


    Located on St Kilda Road, they will be a quick walk or tram ride away from the CBD and popular suburbs like Prahran and St Kilda.

    Decide where you want to live

    “I work in the CBD and I walk to and from work – convenience is important to me,” says Reza.

    “We love being close to the city’s laneway bars and restaurants. When we socialise and catch up with friends, it’s always in the city and we can pretty much walk or tram to wherever we need to be. I like to jog on the weekend and it’s easy to get to Albert Park or Kings Domain.”

    See also  How Much Value Does an Extra Bedroom Add?

    Their new home is also within easy reach of Wesley College, where Reza and Rika plan to one day send their children. Married in early May, they are looking forward to seeing their home take shape.

    All renders supplied by Magnolia Residences. 

    This article was originally published on
    31 May 2018 at 12:01am
    but has been regularly updated to keep the information current.

    Buying offtheplan
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