Scott Morrison has just put the finishing touches on the new HomeBuilder stimulus package. The housing project led by Housing Minister Michael Sukkar is focused on larger projects and new homes. This is part of a strategy to stimulate the economy and prop up the building industry as Australia moves out of the Covid-19 shutdown.
It has been revealed that families who have previously owned property can access the grant if they meet the income test and eligibility rules.
Undoubtedly the pandemic has had a significant impact on our current economic position. So far, the Australian property market has proven to be very resilient. For the next two to three years, it is about buying in key areas which are affordable but also looking strong for capital growth.
Are you First Home Buyer?
With the new HomeBuilder scheme, first home buyers also receive the First Home Buyers Grant, which is an additional $15K from the state government (check each state for details).
- With the First Home Buyers Grant, this equals $40 000!
- plus access to the
LMI (lenders mortgage insurance)
With interest rates at historic lows now is a great time to be buying.
Are you thinking of building?
Currently, land availability is short, as developers have been on a go-slow approach in turning over new land due to COVID-19 and lending restriction. The HomeBuilder scheme has a 6 month window from the start of June 2020 to access the grant, so it is essential to start the process now.
Building your own home is a huge step and it is important to get each step right. For the past 12 years, we have been guiding clients through the process, from researching the right location and long after the keys have been handed over. This will save you precious time and money because we bring the very best of the display village to you.
Whether you want to take action and maximise the opportunities that are presenting themselves due to COVID-19 or just have further questions about the HomeBuilder scheme, the team at Triple Zero Property are here to help.
Call 1300 897 000 or email [email protected]