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Grant, QLD 4725 Review

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Liam

Liam

Grant
The new Federal Government HomeBuilder grant is set to ignite affordable locations and further help first-timers across the nation. The program will be of huge assistance to the construction sector over the next six months, which is good news for everyone given the industry’s importance to the overall health of our economy. The eligibility criteria of the scheme, including maximum income and purchase price limits, means that it will likely benefit first home buyers as well as buyers in more affordable areas the most. The HomeBuilder grant program will provide $25,000 for the construction of a new property, which for first home buyers will be additional grant funds to what is already available. In most states, there are First Home Owner Grants for the construction of new homes already in place. In NSW, it is up to $10,000, in Victoria, the grant is up to $20,000 (depending on the location) and in Queensland, it is $15,000. So, with all of these schemes and incentives bundled together, it’s fair to say now is the best time to be a first-time buyer in a very long time! In some cities, like Sydney and Melbourne, that won’t buy you much real estate anywhere close to the city, but in others, such as Brisbane, it will. However, in the outer-ring and regional areas where property prices are more affordable the numbers change and with it so do the opportunities. With the maximum price point for the HomeBuilder program set at $750,000, I believe it will be the more affordable areas that will benefit the most. Details at:x Home Building Grant to Benefit Affordable Areas an... The new Federal Government www.urban.com.au
0 Reply 13 Views 14D ago
Sam2019

Sam2019

Grant
The government has unveiled the HomeBuilder scheme, which will see eligible owner-occupiers who are either building or undertaking a substantial renovation given $25,000 for doing so. In an information package revealed overnight, the Treasury said HomeBuilder is a time-limited grant program designed to help Australia’s residential construction market bounce back from the coronavirus crisis. HomeBuilder will provide eligible owner-occupiers, inclusive of first home buyers, a grant of $25,000 to build a new home or substantially renovate an existing home where the contract is signed between 4 June 2020 and 31 December 2020. Construction works on the home must commence within three months of the contract being signed. “The ‘boost’ to the first home owner grant, which was a temporary, additional [$7,000]-14,000 grant in the wake of the global financial crisis, showed a similar outcome,” Ms Owen said. Similarly for home owners, and first home buyers in particular, those looking to commit to a property purchase within the next six months would already have been saving a deposit and are primed to buy. However, where this policy may create additional construction lies in the fact that it is pivoting decision-making from established property to new housing, likely to be skewed towards house and land projects. This is opposed to the first home owner boost (FHOB) in 2008. “Even though the grant provided additional incentive for newly built property, 85 per cent of those temporary grants were awarded for established purchases,” Ms Owen said. Source: x Why Morrison’s stimulus won’t have a long-term... The Morrison’s stimulus package could create a vacuum effect where a huge demand in buyer activity is brought forward before a significant drop thereafter, new research has indicated. www.smartpropertyinvestment.com.au
0 Reply 16 Views 17D ago
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