50k for new Builds

Residential construction is also much quicker to get shovel ready. Infrastructure projects employ people in suits for years before they get even close to some high viz action.
You can release a construction grant for residential construction and within 60-90 days have people working on that grant allocated site/project.
I'm not saying it's the right answer but it certainly is a quick answer.

 

Government’s $25k homebuyers handout

"Homeowners will be offered grants of around $25,000 to build new homes under a new stimulus plan, but renovators will have to match the “free” cash by more than a dollar for dollar."

For existing property owners, wonder what this might mean? Is it $25k/property that you own? How will it be certified when it comes to renovation? Very interesting

 

The renovation stimulus could be a game changer for the property market.

A stimulus to add value to an existing property..
Just think if they do a abolish stamps! That is an entire new industry for property flipping.

 

Does this include new apartments? 50k grant to buy OTP. Why not, it’s still construction.

 

if it includes well located townhouses, inner/middle ring Melbourne would be a great option whilst prices are low.

 

I've read that the plans are getting released today (Wednesday) so everyone go to bed with fingers and toes crossed.

 

Bring on the reno stimulus, happy spend more on my home.

If everyone or most choose to renovate their home instead of upgrading, would you think this might affect sales stock? Less people selling and renovating instead=less demand for buying. Or perhaps this will balance itself out.

The renovation stimulus might just work, and very well. I wasn't looking at spending but I can't help take advantage of the offer it's available and benefits our household.
Might build a studio if I can.

 

surely tradies will increase their prices though, with so much demand

 

For sure..

I will have vacant land for sale soon and I’m going to try to raise my price to

 

Absolutely!
I have been considering selling to to buy a bigger property and would love a fixer-upper!
This will put even more petrol to that fire.

 

Wonder if they will include new pool and/or spa? Plus Decking & Fence?

 

All my New Home Consultants colleagues are suggesting the trades costs will go up and be passed onto the consumer, because of the demand.Interesting to see nearly every major builder advertising now for consultants.The good times may be back.

 

Now how to achieve high enough immigration numbers to fill what will be constructed!?

 

could be quite a few US citizens looking for a new home soon...

 

Who will get $25k handout confirmed

I wonder who will be doing this renovation. Useless scheme.

 

Got excited.......thought the title of your thread was referring to new builds only costing $50K (through some revolutionary building techniques). Sigh. I'll retreat back to my cave now.

 

Seems the entry level and lower income owners are targeted.

 

Damn was really hoping for that 40k mark at least. I feel like they could have invested more than the targeted 677million.

 

A 25k grant on a 150k renovation or 750k build. It will be easy to just round up the quotes. Say you have quoted a renovation at 135k with profits and overheads, I round this up to $150k make another $15k and the owner saves $10k. Likewise for a new build - say a house land was advertised at 720k any smart sales person will just round it up and draw attention away from the old price for any new enquirers ... This is really only useful to somebody who was just about to sign a contract as you can't just bump your price once everything is firmed, but everyone trailing will just pay more.

 

25k for a 150k Reno is absolutely pointless!
Who came up with this brain dead idea!

I reckon the take up rate on this is going to be almost zero. What a very sad missed opportunity to provide a quality stimulus to local trades.

So let’s break this down. You need to engage an architect/draftsmen to draw up plans first (few k there). You then need to get a builder to quote on these who will be well aware of a 150k sweet spot.

And then you need to submit to council for approval probably ideally before you commit to the fixed build contract.....I mean has anyone who came up with this concept dealt with councils?? How on earth could you commit to a contract without approval.

You then have to hand these over to a valuer who will see right through any inflated quote OH and in a free falling market to ensure you have enough equity. Has anyone who came up with this brain dead concept ever dealt with a valuer valuing against a FBC in a market like this?

And the window to do this is 6 months. Again has any numpty that thought of this ever dealt with a local council????

Maybe the worst thought out stimulus attempt I have ever heard of.