The Federal Government recently announced that they are giving eligible Australians $25k to boost the construction sector and keep builders employed.
The graphic below taken from 9 news explains more.
The grants will be means-tested to exclude couples making more than $200,000 per year and individuals making more than $125,000 per year, while limits will also be placed on the value of the property the grants go towards.
New builds will be capped at $750,000, while renovations can cost anywhere between $150,000 and $750,000, but will only be subsidised if the house being altered is valued at less than $1.5 million.
The scheme will not apply to investment properties or owners who intend on building or renovating on their own without the help of builders. Owner builders are also exempt.
If you have been considering building new or renovating, then now is the time… We have some great properties that are perfect for renovation and I've noted some links below.
New Build opportunity:
48 Victoria St, Fairfield - flat 406m2 block of land backing onto the park.
49 Tamar St, Annerley - 422m2 block, this one has so much potential and legal height to build in underneath.
17 Corella St, Rocklea - 607m2 block, located next to the park and ideal for raising with parking/ storage underneath.
For further information about the grant/eligibility please email email@example.com with subject line - Federal $25k boost