Following the recent government announcement, HomeBuilder ‘provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations.’
Whilst the Homebuilder grant scheme also caters for new home builds for first home buyers, many families and existing home owners are realising the financial and lifestyle benefit of staying in their current home. The cost of stamp duty, real estate agent fees and other buying and selling costs including furniture removal can amount to tens of thousands of dollars and coupled with the uncertaintity of selling in what may be a depressed market can make the option of purchasing and moving to a new house seem less viable.
Moving to a new area can be challenging for many reasons including proximity to workplace, schools, leisure and shopping precincts and many existing home owners are happy where they are and moving to a new house to cater for changes in family size or lifestyle structure may not be desirable.
Adding together the potential costs of relocating coupled with the $25,000 homebuilder grant for eligible projects, renovating the existing home may be the solution. A strong demand is expected for renovations and alterations to existing dwellings and with the time constraints in place for projects to be commenced it is vital to get a design and plans in place as soon as practical. Konar Architects is in a position to assist with designs, plans and permits to get your project moving promptly.
Contact Konar Architects Geelong to discuss the options