--- title: "Off-the-Plan, Explained: From Deposit to Keys" description: Learn how buying off the plan works in Victoria, from choosing an apartment and paying your deposit to construction, settlement and collecting the keys. image: https://blog.norus.com.au/hubfs/couple-holding-small-house-close-up.jpg --- [Skip to the main content.](https://blog.norus.com.au/off-the-plan-explained#main-content) [![Copy of NORUS BRANDING](https://blog.norus.com.au/hs-fs/hubfs/Norus%20Projects/Copy%20of%20NORUS%20BRANDING.png?width=500&height=125&name=Copy%20of%20NORUS%20BRANDING.png "Copy of NORUS BRANDING")](https://www.norus.com.au) [![Copy of NORUS BRANDING (1)](https://blog.norus.com.au/hs-fs/hubfs/Copy%20of%20NORUS%20BRANDING%20(1).png?width=500&height=125&name=Copy%20of%20NORUS%20BRANDING%20(1).png "Copy of NORUS BRANDING (1)")](https://www.norus.com.au) - [Projects](https://www.norus.com.au/sanctuary_sandringham) - [Norus | Beach Point](https://www.norus.com.au/beach_point) - [Norus | Parkview](https://www.norus.com.au/park_view) - [Norus | Riverbend](https://www.norus.com.au/riverbend_ivanhoe) - [Norus | Sanctuary Sandringham](https://www.norus.com.au/sanctuary_sandringham) - [About](https://www.norus.com.au/about) - [Construction Updates](https://www.norus.com.au/construction_progress) - [Completed Projects](https://www.norus.com.au/completed_projects) - [Blog](https://blog.norus.com.au) Toggle Menu Toggle Menu - [Projects *Toggle Menu*](https://www.norus.com.au/sanctuary_sandringham) - [Norus | Beach Point](https://www.norus.com.au/beach_point) - [Norus | Parkview](https://www.norus.com.au/park_view) - [Norus | Riverbend](https://www.norus.com.au/riverbend_ivanhoe) - [Norus | Sanctuary Sandringham](https://www.norus.com.au/sanctuary_sandringham) - [About](https://www.norus.com.au/about) - [Construction Updates](https://www.norus.com.au/construction_progress) - [Completed Projects](https://www.norus.com.au/completed_projects) - [Blog](https://blog.norus.com.au) [*Facebook*](https://www.facebook.com/profile.php?id=61554483013407) [*Instagram*](https://www.instagram.com/norus.projects/) [*LinkedIn*](https://blog.norus.com.au/off-the-plan-explained#0) [*Twitter*](https://blog.norus.com.au/off-the-plan-explained#0) [*Youtube*](https://blog.norus.com.au/off-the-plan-explained#0) [*Medium*](https://blog.norus.com.au/off-the-plan-explained#0) 4 min read # Off-the-Plan, Explained: From Deposit to Keys [Norus Blog](https://blog.norus.com.au/author/norus-blog) : Published September 18, 2026 [First Home Buyer](https://blog.norus.com.au/tag/first-home-buyer) [Investor](https://blog.norus.com.au/tag/investor) [Off-the-Plan Property](https://blog.norus.com.au/tag/off-the-plan-property) [Buying process](https://blog.norus.com.au/tag/buying-process) ![Off-the-Plan, Explained: From Deposit to Keys](https://blog.norus.com.au/hs-fs/hubfs/couple-holding-small-house-close-up.jpg?width=5184&height=3456&name=couple-holding-small-house-close-up.jpg) Buying off the plan means buying a home before it's finished, sometimes before construction has started. In exchange for waiting, you get today's price on tomorrow's home, significant stamp duty savings and time to save while your home is built. But because you can't walk through the finished product on day one, the process can feel like a mystery. It isn't. Here's the whole journey, step-by-step.   **Step 1 — Choose your home and reserve it** You'll start with floor plans, finish schedules and a display suite visit, where you can see the actual kitchens, bathrooms and finishes up close. When you've found the right apartment, you request the contract. You pay $1,000 when you sign, then pay the balance of the 10% deposit within three business days. Buyers usually arrange for their solicitor or conveyancer to review the contract during this period, although you can request a review before signing. Once the full deposit is paid, there are no further payments towards the purchase price until settlement.   **Step 2 — Review the contract** Once the contract has been issued, arrange for a conveyancer or solicitor to review the contract pack. If you have already signed and paid the initial $1,000, this review is usually completed within the following three business days, before the balance of the 10% deposit is due. Your contract pack includes the contract of sale, vendor statement, plan of subdivision and schedule of finishes. Your legal adviser can explain the special conditions, check what is included in the purchase and review important dates such as the sunset date. The Norus team can also clarify any project-specific details during this process. **Step 3 — Sign and pay your deposit** Within three business days of signing, you pay the remaining amount needed to bring your total deposit to 10%. The deposit is paid into the nominated trust account and managed in accordance with Victorian requirements. Once the full deposit has been paid, there is nothing further to pay towards the purchase price until settlement. **Step 4 — Your home gets built** This is the stage that makes off-the-plan different and it works in your favour in three ways: - **Stamp duty:** in Victoria, off-the-plan buyers can deduct construction costs incurred after the contract date from the dutiable value, which is why buying earlier in construction can mean dramatically lower stamp duty. The earlier you sign, the bigger the saving. - **Time to save:** between signing and settlement, most buyers use the construction period to grow their savings buffer - **Certainty:** your price is locked at signing, whatever the market does while your home is built. During construction, you'll receive regular progress updates (you can see ours for every project on the Norus blog; real photos, real milestones, every month). **Step 5 — Titles register and settlement** When construction finishes, the council issues an occupancy permit and the plan of subdivision is registered with Land Use Victoria, this is the moment your individual apartment legally exists. Your conveyancer is then given notice of settlement, typically 14 days. This is why we always say: **keep your finance ready as completion approaches.** Your broker should refresh your pre-approval in the final months of construction. **Step 6 — Final inspection** Before settlement, you'll walk through your finished home, checking the finishes, fittings and appliances. Anything that needs attention is documented and addressed by the builder. This is also simply a great moment: the floor plan you bought is now a home you're standing in. **Step 7 — Settlement day: the keys are yours** On settlement day, your lender advances your loan, the balance of the purchase price is paid, the title transfers into your name and you collect your keys. Owners corporation details, warranties and manuals are handed over. From reserved floor plan to front door, that's the whole journey. **The short version** Reserve → contract review → sign and pay 10% (held in trust) → home is built while your price stays fixed → titles register → final inspection → settle and move in. Thousands of Melburnians buy this way every year — the process is well-trodden, regulated and at Norus, walked alongside a team that's done it across many projects. **Want to see it in person?** Book an appointment to visit the Riverbend Ivanhoe display suite or call 1800 299 359 to speak with our team. ### **Register Your Interest In Norus Projects Apartments and Townhouses.** Just enter your details below. Loading...      \*Terms and Conditions apply to any promotions and information that may be contained within this communication. Promotions may end at any time without notice and at a maximum will not be available for more than 14 days from the date of commencement. Only one promotion can be used per purchase and can not be used in conjunction with any other promotions. Prices and other values and information may change at any time without notice. For any government grants, concessions, programs, taxes, levies or duties, please refer to the relevant government websites for further information. The information contained herein is given for general information purposes only and it is subject to change. Readers, viewers and consumers are advised to perform their own research and investigations and obtain their own financial, legal and other advice. The information and materials do not form any representation by any vendors or agents of any vendors and may include third-party opinions that do not represent the opinion of any vendor or agent. They do not form part of any contract of sale and they do not constitute legal, financial, real estate or other advice and must not be regarded or relied upon as such. No warranty is given either expressly or implied and the vendors or agents do not assume liability for negligence or otherwise with respect to the contents herein. All images are artist impressions only. Any plans are yet to have had their structural and services review so are subject to change prior to completion of construction. All plans, dimensions, areas and particulars herein whether by measurements or visual representation are approximate only, for general information only, and do not constitute any representation by the vendor or its agents or representatives. They do not form part of any contract of sale. Changes will undoubtedly be made during development and dimensions, fittings, finishes and specifications are therefore subject to change. Any furniture, goods and chattels depicted in this document are not included with any sale. Prospective purchasers or lessees are advised to not to rely on the information contained herein and to satisfy themselves as to the accuracy of all information given by making their own inspections, searches, inquiries and advises or as is otherwise necessary. The vendor or its agents or representatives will not be responsible for any error or misdescription which may appear. Further, the vendor or the developer or their agents or representatives do not represent, warrant and/or guarantee that the integrity of this communication has been maintained or that the communication is free of errors, virus, interception or interference. Usage of this or any other websites and materials and any associated website or material is subject to further terms and conditions. Further terms and conditions apply. Please enquire with the vendor and agent for further terms and conditions.  - [Tweet](https://twitter.com/share) [![2026 May Be the Best Off-the-Plan Window Melbourne's Seen in a Decade](https://blog.norus.com.au/hubfs/Norus%20-%20Beach%20Point/Construction%20Update%20Photos/BP%20May%202026%20(Completion)/BP%20102/102-4.jpg)](https://blog.norus.com.au/2026-best-off-the-plan-window-melbourne) #### [2026 May Be the Best Off-the-Plan Window Melbourne's Seen in a Decade](https://blog.norus.com.au/2026-best-off-the-plan-window-melbourne) [Norus Blog](https://blog.norus.com.au/author/norus-blog) : Jul 31, 2026, 12:15:00 PM New tax rules, tight supply and a population boom are converging on Melbourne's new build market. Here's why off-the-plan makes sense in 2026 [First Home Buyer](https://blog.norus.com.au/tag/first-home-buyer) [Investor](https://blog.norus.com.au/tag/investor) [Off-the-Plan Property](https://blog.norus.com.au/tag/off-the-plan-property) [Melbourne Property](https://blog.norus.com.au/tag/melbourne-property) [Market commentary](https://blog.norus.com.au/tag/market-commentary) [Find Out More Details](https://blog.norus.com.au/2026-best-off-the-plan-window-melbourne) [![Understanding the Planning and Approval Process in Melbourne](https://blog.norus.com.au/hubfs/planning.jpg)](https://blog.norus.com.au/understanding-the-planning-and-approval-process-in-melbourne) #### [Understanding the Planning and Approval Process in Melbourne](https://blog.norus.com.au/understanding-the-planning-and-approval-process-in-melbourne) [Norus Blog](https://blog.norus.com.au/author/norus-blog) : Oct 31, 2024, 10:52:11 AM Guide to Melbourne’s development approvals: from pre-application to final permits, learn the steps to bring projects from concept to construction... [First Home Buyer](https://blog.norus.com.au/tag/first-home-buyer) [Investor](https://blog.norus.com.au/tag/investor) [off-the-plan](https://blog.norus.com.au/tag/off-the-plan) [housing](https://blog.norus.com.au/tag/housing) [Buying process](https://blog.norus.com.au/tag/buying-process) [Find Out More Details](https://blog.norus.com.au/understanding-the-planning-and-approval-process-in-melbourne) [![Top 5 Considerations When Buying Off-The-Plan](https://blog.norus.com.au/hubfs/502-1.jpg)](https://blog.norus.com.au/top-5-considerations-when-buying-off-the-plan) #### [Top 5 Considerations When Buying Off-The-Plan](https://blog.norus.com.au/top-5-considerations-when-buying-off-the-plan) [Norus Blog](https://blog.norus.com.au/author/norus-blog) : May 30, 2024, 8:40:39 AM Essential factors to consider when buying off-the-plan properties, from researching developers to trusting your instincts. Make a wise investment... [First Home Buyer](https://blog.norus.com.au/tag/first-home-buyer) [Investor](https://blog.norus.com.au/tag/investor) [off-the-plan](https://blog.norus.com.au/tag/off-the-plan) [housing](https://blog.norus.com.au/tag/housing) [Buying process](https://blog.norus.com.au/tag/buying-process) [Find Out More Details](https://blog.norus.com.au/top-5-considerations-when-buying-off-the-plan) - [Privacy Policy](https://www.norus.com.au/privacy_policy) © 2026 Norus Projects [*Facebook*](https://www.facebook.com/profile.php?id=61554483013407)[*Instagram*](https://www.instagram.com/norus.projects/) *Return to Top* ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Norus Blog", "url" : "https://blog.norus.com.au/author/norus-blog" }, "dateModified" : "2026-09-18T02:42:01.077Z", "datePublished" : "2026-09-18T02:42:01.000Z", "headline" : "Off-the-Plan, Explained: From Deposit to Keys", "image" : [ "https://blog.norus.com.au/hubfs/couple-holding-small-house-close-up.jpg" ], "mainEntityOfPage" : { "@id" : "https://blog.norus.com.au/off-the-plan-explained", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.norus.com.au/hubfs/3%20(10)-1.png" }, "name" : "Franky Pty. 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