26.06.2020

Australian Government Announce HomeBuilder Incentive

The Australian Government has announced a home building initiative aimed to stimulate and revive the housing construction industry, which is great news for people looking to purchase in one of Wolfdene’s Communities.

Under this federal scheme, $25k cash will be available to eligible buyers to build a new home (including townhomes) – whether first home buyers or not, where the house and land value is less than $750,000.

 The Federal Government’s $25k HomeBuilder Grant*, $10k FHOG and generous State Government stamp duty concessions* make it the perfect time for you to buy – especially if you are an eligible first homebuyer.

 

See below the potential savings outlined by a Wolfdene Case Study:

 Case Study

 House and Land

Potential savings on a $600,000 House and Land Package (If eligible for grants)

  • HomeBuilder Grant: $25,000
  • First Homeowner Grant: $10,000
  • FHO Stamp Duty Concession: $15,000
  • Total Savings: $50,000**

 

Townhome:

Potential Savings on a $360,000 Townhouse (if eligible for grants)

  • HomeBuilder Grant: $25,000
  • First Homeowner Grant: $10,000
  • FHO Stamp Duty Concession: $3,000
  • Total Savings: $38,000**

 

Rent vs Mortgage:

Compare your rent and mortgage payments and consider if you could be living a more financially independent life as a homeowner. Repayments on your property after incentives:

  • House and Land: $542 per week
  • Townhome: $312 per week

 

What are you currently paying in rent?

 

Terms and Conditions: *Terms and conditions apply to the HomeBuilder, FHOG and FHB Stamp Duty Concession programs. These incentives have different eligibility criteria and are only available for a limited time. Prospective purchasers should do their own due diligence using Government guidelines to determine eligibility. **Example only which does not constitute financial advice and is subject to variation depending on each individual’s financial and contractual arrangements and personal situation. ^Calculations based on common information available at time of publication and could differ between lenders and vary according to market conditions.