26 Jul Why Now is the Time to Build Your First Home in Queensland?
There has never been a better time for Queenslanders to enter the property market with a significant increase to what has previously been known as, the ‘Great Start Grant’.
The announcement was made as part of the Queensland State Budget that the $15,000 Great Start Grant will be boosted by $5,000 creating a total of $20,000 for a period of 12 months (ending June 30 2017) meaning now is the perfect time for Queenslanders to enter the market!
The grant will now be known as the Queensland First Home Owners’ Grant but the eligibility criteria will remain the same. For those of you thinking, does this apply to building your first home as well as buying an existing home? We are happy to report it does! So if you have been considering making an invaluable investment by building your first home, now is the time to do it. Here are a few reasons you should be taking advantage of the grant increase to build your first home.
Choosing to invest in a fixed price home and land package is great for many reasons. The first one being, you get a home design that is specifically matched to a block of land, so you don’t have to worry about finding one to fit the other. House and land packages also generally consist of a range of inclusions that come as part of the fixed price, potentially saving you money in the long term. Larger home builders like Coral Homes offer fixed price home and land packages with nothing to pay up front!
Another great benefit of building your first home versus buying existing is the amount of money you can save on stamp duty. When you build a new home, the stamp duty cost is only determined by the value of the land you’re building on, whereas with an established home, it’s based on the total value of the property as a whole. This could result in you saving thousands of dollars on stamp duty – money that could be better spent on decorating your brand new home!
Should you choose to build your first home when you enter the property market, you want to make sure you are making a strong investment for your future. Home and land packages are very often situated in master planned communities in high growth regions with easy access to essential amenities like schools, shopping and medical facilities. You can also have peace of mind knowing that the community you build in has been planned out by a professional developer.
Possibly the greatest benefit of building your first home is that you get to style it exactly as you wish and create a home that you love from the outset. Many builders will be able to modify certain aspects of the floor plan to suit your requirements, which can be done before construction begins to save you any hassles down the track.
DISCLAIMER: The information and views set out in this article are those of the author and do not necessarily reflect the official opinion of the MyCity-Web collective. This is a contributed article via our Submit Post Page and should be viewed as such.
