The federal government’s budget measures included an extension to the First Home Owner Grant until June 2021 for eligible first-home buyers, and a rise in the property value of eligible builds to under $800,000 from $750,000.
The First Home Owner Grants will be extended until June next year and coincides with Village Building Co’s first house and land package release at South Jerrabomberra.
Village Building Co is releasing their first house and land packages today (21 October), with a modern three-bedroom home aimed at first-home buyers.
The homes will provide buyers with an opportunity to buy in NSW, and to qualify for all the current first-home buyer incentives both state and federal, as construction is to begin prior to 31 December this year.
Under the NSW Government’s COVID-19 stimulus package, first-home buyers who build their own home may also be eligible for a grant of $25,000 under the HomeBuilder Grant. Eligible owner-occupiers can apply for the grant to build a new home where the contract is signed between 4 June 2020 and 31 December 2020, with construction to start within three months of the contract date.
Village Building Co CEO Travis Doherty said the timing of the budget announcement means first-home builders are now able to buy a three-bedroom, two-bathroom house and land at South Jerrabomberra for $577,900 and qualify for the First Home Buyers Deposit Guarantee Scheme.
“We’re releasing six house and land packages this week,” said Mr Doherty, “but we will be releasing more. We will start construction on the first 10 homes by 31 December, which means buyers of the house and land packages won’t need to pay stamp duty for the three-bedroom homes.”
Village is offering six house and land packages, with four three-bedroom, two-bathroom free-standing homes, and two four-bedroom, two-bathroom homes.
Under the concessions available for first-home buyers, the HomeBuilder scheme, state and territory first homeowner grant programs, and stamp duty concessions could see an eligible homebuyer save around $55,000 in concessions, grants and stamp duty.
“The NSW Government’s Homebuilder grant of $25,000 is scheduled to finish on 31 December this year,” said Mr Doherty, “many industry groups are lobbying for that to be extended.
“Not only is this an opportunity for first home builders to buy a detached home on a block that’s between 301 and 471 square metres, it’s keeping countless numbers of tradies on the job, ensuring work for hundreds of families well into next year.”
“These homes will start at $577,900. Where can you buy a house and land package, all included, even the landscaping, for that in this region?”
The three-bedroom homes include a master bedroom with an ensuite and walk-in robe, double-glazed windows, stone benchtops, floor-to-ceiling tiling in bathrooms, spotted gum hybrid wood floors in the kitchen and living areas, ducted reverse cycle air conditioning, and a single garage with an automatic roller door.
“We want people who buy at South Jerrabomberra to have a great experience, so we take care of all the decisions, and you buy exactly what’s on the plan, with a view to moving in early next year.
“South Jerrabomberra is definitely taking shape, we’ve sold over 300 blocks, and construction of the blocks is almost complete.”
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