$25,000 GRANTS FOR 'OFF THE PLAN' PURCHASERS

The Australian Government has just released a brand new “Home Builder” stimulus grant for Australian’s purchasing a new home. A $25,000 grant is available to purchasers who buy ‘off the plan’ and build a brand new property that has never been lived in or sold in a bid to stimulate the construction industry.

“The grant is a welcomed initiative by the Federal Government and will certainly help rejuvenate the 'off the plan' industry that has been somewhat stagnate over the past 12 – 18 months.” David Highland.

Buying 'off the plan' has many benefits. This is mainly because it involves buying a brand new property that comes with brand new fixtures and fittings, and also because it gives buyers more time to get their affairs in order before moving into a new home.

If you meet the eligibility criteria, you need to apply for the $25,000 grant between now and December 31, with the work contracted to start within three months of the contract date.

Some of the criteria includes:

• For a natural person 18 years of age or older
• For an Australian citizen
• Must meet one of the following two income caps: $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or $200,000 per annum for a couple based on both 2018-19 tax returns or later
• For contracts entered into between 4 June 2020 and 31 December 2020
• For property purchases up to $750,000
• For owner occupiers only who intend for the property to be their principal place of residence
• The $25,000 grant can be used in conjunction with the current Federal & State Government First Home Buyer Schemes

Highland Project Marketing currently have over 1,000 'off the plan' opportunities available across all price points in the Sutherland Shire and St George areas, so if you are looking to purchase your brand new home, contact our team today on 1300 176 070.

For further information, refer to the following website: https://treasury.gov.au/coronavirus/homebuilder

*The above information is for informational purposes only*