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Investors are being urged to consider their property portfolios before trying to access the Morrison government’s latest stimulus package

10Mo ago 0 Replies 174 Views
The HomeBuilder scheme allows for home owners to gain up to $25,000 in government support for renovations between $150,000-$750,000 on properties that are worth less than $1.5 million prior to the renovation.
“There’s opportunities especially in the Brisbane area. You can buy properties fairly close to the CBD under that price range and add value with the renovation,” Mr Jennison said.
The scheme, which is targeting larger repairs over cosmetic changes to property, is targeting structural changes.
“People think renovations are cheap. A lot of people are very surprised when we tell them it’s probably cheaper to build new than renovate.
“So you can chew into a lot of money when you start renovating. But if you can get it up to $150,000, you can get a new kitchen for $25,000,” Mr Jennison said.

“I think that is the danger when the government releases these sort of stimulus packages. People shouldn’t spend money just because they can.”
“It really needs to be part of an overall plan to ensure that you're not overcapitalising because if you spend that money because the government is going to give you a $25,000 rebate and you have to sell in two or three years time and you’ve overcapitalised, you may not get that money back.

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