Hi Guys,
Has anyone availed the 25k home builders grant so far in melbourne? Can it be used or added towards your your deposit?
25k home builders grant
Lmikewall38 on 27/07/2020 - 17:52
Comments
From memory it does get included in your deposit for a home loan application (provided you're guaranteed to get it), having said that the builders have already increased their prices to accommodate as with any other subsidy so don't feel you're 'saving' $25k. If they tell you otherwise they're trying to pull the wool over your eyes
As nice as the scheme looks on paper all it does is feed the developers/vacant land owners more money to fill their coffers and does nothing for the purchaser, same can be said for the childcare subsidy which pushed prices to astronomical levels overnight. Not sure how long it will take the government to realise subsidies don't work. But then again who else will ensure the developers keep their gold mines in the middle of nowhere.
Once Australians realise that funneling money into land to drive up rent and mortgage prices is not how you grow an economy that's when the reality check starts. Increased rent = less disposable income = lower living standards = lower birth rates due to financial restriction. (But thats ok as long as the immigration taps are flowing freely)
builders have already increased their prices to accommodate
Builders are competing with Real Estate Agents and car sales people for most hated profession.
Once Australians realise that funneling money into land to drive up rent and mortgage prices is not how you grow an economy
Simple common sense. I remember once I was at a roof top pool overseas (attached to an budget hotel) a band of Aussies walked in and started to talk about their real estate wins and losses. These are not real estate moguls. Australian real estate is the number one preoccupation. Once a house is built it generates very few jobs. For a $600k - $1m invested it is very bad for the economy to have such a lot of capital committed. If a house isn't $1m but $900k, not having to spend $20k on the deposit and if that is spent on Yoga instruction once a day, 5 days a week, 50 weeks a year it is worth $5m to the economy. That is 50x $100k pa jobs. Real estate money is dead money.
Im not keen on driving up prices either.
home build and renovating does cover a fair few people in the workforce however. all materials need to come from various suppliers etc.
houses need maintenance, generate yearly council rates, new house = more rates. $25k reno then ups the value of the property = higher council rate.
Water, Gas, Elec, garden, general maintance all generate income for various industries.The scheme value is way to high. 150k reno, not a huge amount of people can afford that. maybe it should of been 15% rebate up to $25k back or something like that.
there is still no exact details to claim this yet
Exactly! why isn't it a rebate to the consumer?
But it is! Rebate to consumer of HiLux and Rangers.
Very Well Explained !
Where is the 25k grant for the equity market.
Have you checked the State Revenue Office website?