9 September 2020

Financial advantages for first home buyers at South Jerrabomberra

| Sharon Kelley
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South Jerrabomberra

Sunshine lights up the parkland surrounding South Jerrabomberra. Photos: Village Building Company.

The blocks of land and views at the new suburb of South Jerrabomberra are stunning, particularly on a warm, sunny morning.

Located just off the Monaro Highway, the South Jerra Sales Office sits among the extensive earthworks preparing the new suburb for home construction, with sewer, water, electricity and other services being installed underground for each block, ready for home builders to tap into.

South Jerrabomberra has been designed for walking and cycling, with parks and nature trails easily accessible for all residents. A Community Centre, that will be positioned as a central hub for the community, will be constructed using rescued materials from an old woolshed on the site.

Building at South Jerrabomberra is simple, with no onerous approval processes. Development Applications can go straight to the local Council, rather than through the developer and then to government for approval, which considerably shortens the waiting time for approval to start building.

READ ALSO South Jerrabomberra adds jobs and an economic boost to the region

Village Building Company CEO Travis Doherty points out there are many advantages for First Home Buyers purchasing land and building their first homes at South Jerrabomberra, including the lifestyle on offer and the financial incentives available within NSW.

“If you add up the savings from stamp duty exemptions and the First Home Buyer and HomeBuilder grants that are available,” said Mr Doherty, “you’re around $40,000 ahead in savings and grants.”

The savings come from an extension to the exemption by the NSW Government from stamp duty for home and land for first home buyers. Stamp duty has been suspended on new homes below $800,000 and subsidised for homes worth up to $1 million. The $0 threshold on vacant land has increased from $350,000 to $400,000 and will phase out at $500,000.

South Jerra

The new suburb of South Jerra takes shape.

“Then there’s the First Home Owner Grant of $10,000, for First Home Buyers purchasing a property under $750,000,” said Mr Doherty.

As part of the NSW Government’s COVID-19 stimulus package, $25,000 is also available under the HomeBuilder Grant. Eligible owner-occupiers, including First Home Buyers, will receive 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.

“There is a further three month extension period where the building is delayed due to unforeseen factors outside the control of the parties to the contract, in which case a maximum extension of an additional 3 months may be given,” said Mr Doherty.

READ ALSO Village finally breaks ground on South Jerrabomberra 1250-home estate

“Construction includes excavation and site preparation works, which are well underway at South Jerrabomberra.

“Having completely sold out our first release area, we’ve recently launched our next major release of single residential blocks and builder packs and we’re working towards a number of house and land packages also.

“South Jerrabomberra is going to be a great place for young families to call home. They’re going to have access to everything nature has to offer as well as the convenience of supermarkets, petrol stations, education facilities, a technology and business park, national-level sporting facilities and a STEM-based high school.

“The financial advantages under the NSW Government’s COVID-19 stimulus package are only available for 12 months, so now is the perfect time for First Home Buyers to purchase into South Jerrabomberra.”

Check out the South Jerrabomberra opportunities on Zango, with all the other hot listings. If you would like further information on residential land sales at South Jerrabomberra contact Sales Agent Vlada Piven on 0404 891 155.

The Village Sales Office at South Jerrabomberra can be accessed by turning off the Monaro Highway at Tralee Street, Hume, onto Alderson Place, and following the display signs.

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