News

June 11, 2020

New 'HomeBuilder' Scheme Announced!

Something really exciting happened last week and we want to make sure you hear about it! The Federal Government announced a new scheme called HomeBuilder and, as soon as the NSW Government signs the Partnership Agreement, applications can be lodged with the Office of State Revenue.

It’s a grant of $25,000 for eligible applicants who are:

    • buying a brand new home;
    • buying off-the-plan;
    • buying a house and land package;
    • buying vacant land on which they intend to build their home; or
    • substantially renovating their existing home.

 

Of course, there are always conditions to be satisfied in order to qualify, but it’s worth checking out. If you:

    • are an Australian citizen aged 18 or over;
    • intend to live in the property; and
    • meet the income test; and
    • are buying a new property with a value not exceeding $750,000,
    • it may mean you can go ahead with buying your dream home sooner rather than later.

And, if you’re an eligible first home buyer, you could get HomeBuilder in addition to the first home buyer benefits which are currently on offer. That’s huge!

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If you are renovating your existing home:

    • the construction contract must be between $150,000 and $750,000;
    • the property value must not exceed $1.5 million; and
    • construction must commence within 3 months of the contract date.

 

The scheme isn’t going to last forever, so you might want to check out the properties we have which meet the criteria before it closes on 31 December 2020. 

The Treasury has prepared a HomeBuilder Factsheet - click here to view

There’s also a list of Frequently Asked Questions - click here to view

 

Has COVID-19 impacted the value of your property?

There has been a lot of attention given to the real estate market by the media during the COVID-19 pandemic. If you are curious to discuss the current value of your existing property, please get in touch and we can discuss what trends we are seeing in the current marketplace.

Simply reply to this email, or click here to fill out an appraisal form, and we will be in touch as soon as possible.

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