Browse Forums Building A New House Re: Grange Avenue Schofields - Burawa Rise Development 781Mar 11, 2016 12:40 pm This morning I visited our our area, lots of lots have been fenced up including my lot, now council has been put up the road sign for Turrallo Circuit finally, the whole area is having fun now, if you guys has time you should visit the site as well Re: Grange Avenue Schofields - Burawa Rise Development 785Mar 16, 2016 6:39 pm Hey Skyler, further to our discussion today. As per this link, if it's through home contract then value of property is calculated by adding land purchase value and any appreciation value by the time construction begins. http://www.osr.nsw.gov.au/grants/fhog/faq This means most of us are ineligible for FHOG due to significant appreciation in land value for past couple of years!!! This is absolutely ridiculous!!! Re: Grange Avenue Schofields - Burawa Rise Development 786Mar 16, 2016 6:47 pm vinraj81 This means most of us are ineligible for FHOG due to significant appreciation in land value for past couple of years!!! This is absolutely ridiculous!!! Yes. Ridiculous indeed! We were charged additional building cost because of the lengthy delay in land registration. Now, we'll miss out on FHOG. OSR criteria is a joke! skyler *o* Re: Grange Avenue Schofields - Burawa Rise Development 787Mar 16, 2016 7:03 pm They want to showcase they are helping new home buyers but don't want to actually pay them. Property value calculation is intentionally not put on the main webpage instead it's on FAQ pages. Re: Grange Avenue Schofields - Burawa Rise Development 788Mar 17, 2016 10:31 am @vinraj81 & @Skyler - Did you enter into building agreement before 1st Jan 2016? Do you fall under 650K Limit or 750K Limit? If you are under 650K limit and your agreement is lesser than 650K - are you borrowing more than that from the bank to cover any additional expense that will cross 650K limit? Re: Grange Avenue Schofields - Burawa Rise Development 789Mar 17, 2016 10:35 am blueeyes9334 @vinraj81 & @Skyler - Did you enter into building agreement before 1st Jan 2016? Do you fall under 650K Limit or 750K Limit? If you are under 650K limit and your agreement is lesser than 650K - are you borrowing more than that from the bank to cover any additional expense that will cross 650K limit? Hi blueeyes, The 650k cap applies to us (and to you I guess). And we're borrowing way less than that value from the bank. But OSR determines the total property value by adding the appreciated land value to the building contract price. skyler *o* Re: Grange Avenue Schofields - Burawa Rise Development 790Mar 17, 2016 10:37 am skyler blueeyes9334 @vinraj81 & @Skyler - Did you enter into building agreement before 1st Jan 2016? Do you fall under 650K Limit or 750K Limit? If you are under 650K limit and your agreement is lesser than 650K - are you borrowing more than that from the bank to cover any additional expense that will cross 650K limit? Hi blueeyes, The 650k cap applies to us (and to you I guess). And we're borrowing way less than that value from the bank. But OSR determines the total property value by adding the appreciated land value to the building contract price. Quite surprised with this since my bank (westpac) has done the FHOG application for me and they didn't advise of any eligiblity issues. and Yes I am under 650K limit for build & borrowing. Re: Grange Avenue Schofields - Burawa Rise Development 792Mar 17, 2016 10:39 am vinraj81 Blueeyes, was your valuation above $650K? Checking with my bank now!! Was not bothered to find it out since my loan was approved for Land & Home both...and for some time now. Re: Grange Avenue Schofields - Burawa Rise Development 793Mar 17, 2016 10:40 am blueeyes9334 Quite surprised with this since my bank (westpac) has done the FHOG application for me and they didn't advise of any eligiblity issues. and Yes I am under 650K limit for build & borrowing. Has the application been submitted? Have you got your slab done? That's when they can submit application. skyler *o* Re: Grange Avenue Schofields - Burawa Rise Development 794Mar 17, 2016 10:41 am skyler blueeyes9334 Quite surprised with this since my bank (westpac) has done the FHOG application for me and they didn't advise of any eligiblity issues. and Yes I am under 650K limit for build & borrowing. Has the application been submitted? Have you got your slab done? That's when they can submit application. My application is managed by my bank & They have already submitted it since I do recall receiving FHOG letter from OSR couple of months back. Re: Grange Avenue Schofields - Burawa Rise Development 795Mar 17, 2016 10:43 am skyler blueeyes9334 Quite surprised with this since my bank (westpac) has done the FHOG application for me and they didn't advise of any eligiblity issues. and Yes I am under 650K limit for build & borrowing. Has the application been submitted? Have you got your slab done? That's when they can submit application. Regarding Slab, Jandson just advised that their contractor was due to do piering this week but his machine broke....now will aim to do next week. Really not sure - how they can finish piering for some and not for the other stage 1 folks. Re: Grange Avenue Schofields - Burawa Rise Development 797Mar 17, 2016 10:47 am blueeyes9334 skyler blueeyes9334 Quite surprised with this since my bank (westpac) has done the FHOG application for me and they didn't advise of any eligiblity issues. and Yes I am under 650K limit for build & borrowing. Has the application been submitted? Have you got your slab done? That's when they can submit application. My application is managed by my bank & They have already submitted it since I do recall receiving FHOG letter from OSR couple of months back. From OSR website: 'Applications lodged with financial institutions will have the grant available for settlement or for the first draw down on contracts to build.' Btw, did you get approval? skyler *o* Re: Grange Avenue Schofields - Burawa Rise Development 798Mar 17, 2016 10:48 am vinraj81 If your valuation was done above $650K and yet your FHOG letter states you are eligible then we do have hope! Can you please let us know what happened? God knows if they still decide to assess valuation before disbursing FHOG...I will be prepared to face some worst case scenarios. Re: Grange Avenue Schofields - Burawa Rise Development 799Mar 17, 2016 10:51 am From OSR website: 'Applications lodged with financial institutions will have the grant available for settlement or for the first draw down on contracts to build.' Btw, did you get approval?[/quote] Yes - OSR sent me the letter saying it is logged and confirming that amount will be disbursed when contruction stage 1 is settled. I am currently on the edge with Jandson - who are really slow at the moment. Hope they get Stage 1 finished so that I can get over (good or bad) this FHOG madness. Re: Grange Avenue Schofields - Burawa Rise Development 800Mar 17, 2016 10:55 am blueeyes9334 Yes - OSR sent me the letter saying it is logged and confirming that amount will be disbursed when contruction stage 1 is settled. Good on you. We didn't even get letter from OSR. blueeyes9334 I am currently on the edge with Jandson - who are really slow at the moment. Hope they get Stage 1 finished so that I can get over (good or bad) this FHOG madness. One of the worst-cases you should be prepared for. skyler *o* 11 41726 No idea about the driveway question, but your price for a house that size including landscaping seems very good! 1 6190 We bought land in Tallawong Schofields NSW size 30m X 12.5m and planning to get double story house build around 350 sqm. We are thinking about having premium inclusions… 0 4109 |