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Read up on it. Think I understand it now thanks anyway
Andrew, Lisa, Mason and Isabelle. In Aldinga Beach and loving it.
Interesting post however couple of questions...
1, new build property is what? Off plan? Built and first owner or less than 1 year old?
2, do developers put a premium on new builds like in UK? Obviously if yes then this eats into any grant.
3, how does the mortgage payment work? Stage payments to the developer?
4, is this grant an option for self builds?
Thames Migration appointed Jun12, VETASSESS passed July, EoI Aug12, IELTS retake 8.5 Sep12, EoI and 189 visa application Sep12, CO appointed Oct 12, Medicals, Police checks Nov12, Visa Granted 11/01/13. Now located in Brisbane, secured great employment and quickly establishing roots. Yes it really is the lucky country.
1) So newly built, no one else lived in it, off plan etc etc
2) I would say there is definitely a premium on a new build however if someone is financing the purchase (and this is really what most of these new grants are aimed first home buyers so very likely to be financing) then the premium is not hurting out of pocket as such. Also I suppose all the advantages that go with newly built i.e no wear and tear to the house etc
3) Yes, stage payments are agreed in the contract to build and paid by the lender to the builder upon certain milestones i.e slab, frame etc
4) I cannot see why not although it can prove difficult to obtain finance for self build.
Last edited by Andrew from Vista Financial; 15-11-2012 at 02:13 AM.
News out that the Housing Construction Grant is to be extended until the end of the year.
This is the extra $8,500 grant for anyone not just first home buyers who is buying or building a new home whether as an investment or owner occupied. See first post regarding house values.
See also here: http://www.adelaidenow.com.au/news/s...-1226654814086
I have updated some information around the Housing Construction Grant extension and also for Mortgage Policy for temporary residents to reflect changes that have occured recently.
I have just updated the first post to reflect the end of te Housing Construction Grant (HCG) as of December 2013 and also to clarify the end of the First Home Owner Grant (FHOG) for established homes on June 30 2014 currently $5,000.