What a time to be a homeowner, investor or developer if you're looking to invest in property, with the State Government unveiling the $20,000 Building Bonus.
That’s right, thanks to the Government's recent stimulus package, eligible investors can access up to $20,000 worth of grants?
Who Can Apply?
- Owner Occupiers and Investors
- Australian citizens and foreign persons
- Natural persons, corporations & trustees
- Residents living outside of WA
What are the Facts?
- You don't have to live in the home to qualify for the grant
- It isn't means tested
- There is no cap on the property value
- Construction must commence within six months of the contract date
- It cannot be part of a multi-tier development.
You must be the registered owner of the vacant land on which the home will be built. If you are buying vacant land with a building contract and the certificate of title for the land has not been issued at the date the building contract is signed, it must be issued in your name by the date that the foundations are laid which must be no later than 30 June 2021.
If you are in the process of subdividing your own land, you can apply for the grant after foundations are laid on the proposed vacant lot if you provide evidence to show that the new land survey plan and certificates of title will be issued in your name. For example, evidence the
Western Australian Planning Commission has granted conditional approval of the proposed plan and lots.
The grant will be paid to all registered owners unless written authorisation to pay another person is provided by all owners.
Top 3 Questions to ask your builder:
Are they well-resourced to deal with the upswing in activity over the next 6 months?
Make no mistake, builders are going to be flat off their feet with the increase in business so you want to ensure the builder you choose is already well-resourced.
At Summit Homes Group, we’ve recently employed over 30 new staff in the past four months alone, which is part of our long-term growth strategy.
It’s important to find a builder who has the capability to push through the administration process fast. So rest assured, we’re ready to go when you are!
Are they equipped to handle the increase in supply of products, materials and trades?
Here at Summit, we’re a fully vertically integrated business, with our own steel framing, plumbing, roofing, ceiling and finance businesses. The integration provides us with responsibility and control over the supply chain and access to labour and materials.
Lastly, can they ensure they will get you to site within the 3 month timeframe of signing your contract?
We have strong relationships with our suppliers that we have built up over 40 years. The strength of our balance sheet has also enabled us to pre-order, and pre-pay, a large number of items meaning we are ready to get you to site on time. Plus, we only take on what we know we can process in time.
Our staff are passionate about continuing to help WA families transform their homes into stunning abodes for the next 40 years and more.
Starting with an obligation free consultation, our team will work with you to find the best solution for your block, handling everything, from feasibility and costings to planning approvals, so you can enjoy a stress-free and profitable development journey.