Browse Forums General Discussion Re: Government $40-50k stimulus rebate on new builds 26Jun 04, 2020 7:08 am Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Government $40-50k stimulus rebate on new builds 27Jun 04, 2020 7:10 am BVD It doesn't look like it's specific to the 2021 financial year as it starts tomorrow so I suspect anything signed from tomorrow's date going forward.. Re: Government $40-50k stimulus rebate on new builds 28Jun 04, 2020 7:30 am Some articles state that the limit for new home builds of $750,000 is inclusive of land, however others don't state this and appear to imply construction cost only and not also the value of land. Anyone have thoughts on what is more likely to be the case? In my opinion, it would seem unfair if a new build total value is limited to $750,000 inclusive of land, since this effectively renders the construction cost being limited to a much lower amount compared to that applicable for renovations. Re: Government $40-50k stimulus rebate on new builds 30Jun 04, 2020 7:49 am Perth has already seen properties prices slump up to -20% Landgate Perth House Prices What an opportunity to add long term value by means of Bim Optimised renovations. My2c, Sell your over priced homes in Sydney and Melbourne and move west you guys east are in for huge property price drops....Bad Luck Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Government $40-50k stimulus rebate on new builds 31Jun 04, 2020 7:59 am Norfolk $750k limit is for construction, excluding land. Do you have a source for this? Thought I was ruled out but could be ok! Re: Government $40-50k stimulus rebate on new builds 32Jun 04, 2020 8:05 am https://www.news.com.au/national/politics/homebuyers-grant-who-is-eligible-for-25k-homebuilder-scheme/news-story/7e2060fb086fd5e18ca830a576a08c7f New builds between 150K to 750K, signed contract from midnight tonight until September 30, construction to start within 3 months, couple income less than 200K or singles less than 125K. Available for first 30,000 people. The income must be confirmed by your lender to be eligible! This story is in all the news feeds, it's legitimate! Re: Government $40-50k stimulus rebate on new builds 33Jun 04, 2020 8:15 am I'm interpreting the article you stated as construction + land < 750k for new home builds. This seems consistent with other articles from ABC/the age etc. I guess will have to wait for an official government release to know for sure "value of the property must be $750,000 or less." "To qualify for HomeBuilder, you need to be building a new home worth less than $750,000" Re: Government $40-50k stimulus rebate on new builds 34Jun 04, 2020 8:22 am TorquaySurfer I'm interpreting the article you stated as construction + land < 750k for new home builds. This seems consistent with other articles from ABC/the age etc. I guess will have to wait for an official government release to know for sure "value of the property must be $750,000 or less." "To qualify for HomeBuilder, you need to be building a new home worth less than $750,000" To me these are contradictory statements in the article. "building a new home worth less than $750,000" implies construction value only is considered "property must be $750,000 or less" implies construction plus land is considered As you say, we need to wait for the official rules to be put up on the state revenue websites. Re: Government $40-50k stimulus rebate on new builds 36Jun 04, 2020 8:33 am So how do they work that if you already own the land? It's not a stimulus for builders for the land value to be included, they only build houses! Re: Government $40-50k stimulus rebate on new builds 37Jun 04, 2020 8:36 am I assume they would include the current value of the land as part of the package. For example if the land is worth $400k and your build is $400k you would be ineligible. If your build was $300k you would be eligible. Sure more definitive details will come out today. Re: Government $40-50k stimulus rebate on new builds 38Jun 04, 2020 8:37 am That's a great point Sparkyf Does this mean we need to get land valuation in order to apply for the grant? I suppose those who want to renovate would also have to show that their land plus home is not more than $1.5M, which would likewise require a valuation. But this highlights the double standard, when renovators get a much higher threshold inclusive of land compared to new builds. I believe this is unreasonable, and really am hoping that new build threshold is not including land! Re: Government $40-50k stimulus rebate on new builds 39Jun 04, 2020 8:49 am Icthys99 That's a great point Sparkyf Does this mean we need to get land valuation in order to apply for the grant? I suppose those who want to renovate would also have to show that their land plus home is not more than $1.5M, which would likewise require a valuation. But this highlights the double standard, when renovators get a much higher threshold inclusive of land compared to new builds. I believe this is unreasonable, and really am hoping that new build threshold is not including land! I agree there is a double standard. The 750k limit will just result in propping up volume builders + land developers, putting up poorly built houses in outer suburban areas Hi, We are looking for a builder that can build a small home (smaller length) on a sloping site. We came across Mojo's Zephyr design 10.6 m wide and 11.5 m length. Does… 0 22990 A person needs to be licensed to offer financial advice. Surely the accountant you use would have been chosen for his/her expertise in this field. Have you asked your… 1 6720 |