WA - total 45k grant for new builds - market impact

Discussion in 'Property Market Economics' started by Rooky, 7th Jun, 2020.

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  1. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Now that is the $45k questions :)
    You may find that a 280sqm modern house sometimes has more useble space than a much larger house due to more modern layouts - get rid of awkward spaces, rooms not used and things that have to be shoe horned into the original design.

    So my vote is option 1.
     
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  2. MTR

    MTR Well-Known Member

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    I think I am ticked off

    As I am building 3 villas and it will be strata I think I may only be eligible for $20,000 not $60,000 as not separate titles????

    i will need to dig deeper into this
     
    Last edited: 9th Jun, 2020
  3. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    My phone has been ringing off the hook - I don’t even work with FHB normally. I think trades will be in short supply next year, so if you’re going to do anything, get it done ASAP.

    Great time to sell any vacant land sub-div projects! As long as titles are imminent!
     
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  4. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    I think it’s per construction contract, no to do with land? Link to info?
     
  5. MTR

    MTR Well-Known Member

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    so i could do 3 x building contracts per each villa
     
  6. Damo93

    Damo93 Well-Known Member

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    Booragoon
     
  7. Propin

    Propin Well-Known Member

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    I’ve noticed in my suburb a home built in the past 10years sells for about $100,000 to $130,000 more than an 80’s home with an extension. May be worth thinking of end values also.
     
  8. Damo93

    Damo93 Well-Known Member

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    Even if the only things left are the original bricks (now rendered) and the jarrah wood work holding up the roof? :D
     
  9. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    TBH I’m not sure if it’s one per person or not. Have to look into it.
     
  10. Propin

    Propin Well-Known Member

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    Really up to you and what you would prefer I guess!! My house is 80's with one large extension with high ceilings, takes up about a third of living space. I love the room. Sometimes we see the moon rise and there is windows on three sides so you feel like you are living in the garden. (without bugs). We have three carports. Hate it's not enclosed garage! Either of your plans sound good as long as you are happy with existing floor plan. I think previous owner here did some reno's as their is a massive walk-in-pantry, WIR, linen cupboards, large storeroom coming off laundry. Not the usual 80's features.
     
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  11. MTR

    MTR Well-Known Member

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    Will dig deeper. Thx
     
  12. MTR

    MTR Well-Known Member

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    I would go new build every day of the week

    get a good designer, make sure elevation is slick
     
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  13. Shogun

    Shogun Well-Known Member

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    I wonder if at the lower end of the market cheap blocks of land just went up in price to buy?
     
  14. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Very much so. Talking with REAs this week with multiple offers on blocks that were struggling to sell 6 weeks ago.
     
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  15. MTR

    MTR Well-Known Member

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  16. Damo93

    Damo93 Well-Known Member

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    I enjoy renovating but I think high ceilings and a better location on the block would be beneficial which is unachievable with the existing house. It has a good floor plan - we bought for that reason (easy and cheap to modify the make modern).
    Sounds like a nice spot to relax and enjoy in. Perhaps the previous owner really appreciated storage space! :D
     
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  17. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    My understanding/interpretation is that if you subdivide first (green title, survey strata) then you would be eligible but in your instance I don't believe you would have time to meet the deadline. So even if you had 3 building contracts for built strata they are still on the one block so I think it's one $20k

    The alternative for build strata is to sell it off the plan and then the buyer would be eligible for the $20k. So if you think you could get a higher end value due to your buyers being eligible then it's kind of like getting the grant yourself.
     
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  18. MTR

    MTR Well-Known Member

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    thx, an option. I am think of keeping these? Still undecided
     
  19. Pigey

    Pigey Well-Known Member

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    Has anyone seen any price rises associated with all these grants? I've heard rumours of 2-3% price rises already, but haven't been able to confirm anything.
     
  20. Damo93

    Damo93 Well-Known Member

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    A timeless, stylish elevation is the goal :)
     
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