The HomeBuilder Scheme in SA
We sat down with Lanser’s Managing Director and President of South Australia’s branch of the Urban Development Institute of Australia, Jason Green, to discuss the new Federal HomeBuilder scheme and what it means for South Australia…
Lanser: The Federal HomeBuilder scheme has come as a welcome announcement in the news cycle this week. How do you think it will help South Australians?
Jason Green: It certainly is refreshing to see something positive in the news and I’m sure many South Australians who have been thinking about building a new home will welcome the scheme. And this announcement will not just impact home buyers but the construction industry in general so it is great news for the State. It provides a fantastic stimulus for jobs and will hopefully help to steer South Australia in the right direction of economic recovery.
L: In your role at Lanser, how will your staff help homebuyers to navigate this grant?
JG: Lanser is thrilled about this announcement. We have a good supply of titled allotments to meet the demand that this scheme will create – which means we’ll be able to help more South Australians to build their new home under this scheme. Our sales team at Lanser Realty are across the eligibility details and are ready to help all of our purchasers through the process.
L: What do home buyers need to know to ensure they are eligible for the scheme?
JG: The important thing for homebuyers to know is that the scheme demands that your new home commences construction within three months of purchasing your land. This means that off-the-plan land sales will be tricky to navigate right now and pose some risk for the purchaser. Lanser is thrilled that we currently have a good supply of titled allotments – which means that they are not off-the-plan and they’re ready to build on right now. This means they meet all the requirements for this scheme. I would say to all homebuyers looking to purchase land under this scheme to enquire whether or not their allotment is titled or will become titled within the prescribed timeframe. Our sales staff are across these details and ready to help.
L: This scheme is available until December 31 2020 – do you think there is an ideal time during this period for homebuyers to sign on the dotted line?
JG: I would say that if you’re in a position to purchase – now is the time. As I mentioned – it’s imperative that the allotment you purchase needs to be titled or near complete. The demand for these kinds of allotments will increase. If titled allotments sell out it will then be a question whether the construction industry will be able to keep up with the demand and keep building these lots to keep pace with purchases. In essence – titled lots might soon be in short supply. So I would say to anyone considering buying under this scheme to do so while the land is still readily available.
L: Will the scheme affect South Australians any differently to interstate homebuyers?
JG: The good news is that the property market in our State has remained stable despite the crisis, and more people are appreciating just how incredible our lifestyle is here. We’ve seen more South Australians moving home for these reasons, and the terrific news is that the $25k grant will go a lot further here than it will in other States. Essentially, South Aussies will get more bang for their HomeBuilder buck!
L: Will first home buyers still be eligible for the First Home Owners Grant?
JG: The good news is yes! As a First Homebuyer in South Australia, if you meet the eligibility requirements for the HomeBuilder scheme and the First Home Owners Grant (FHOG) you will be eligible to receive both. You may also be eligible for the First Home Loan Deposit Scheme (FHLDS) which enables first homebuyers to buy a home with a deposit with as little as 5 per cent
This means as a first homebuyer in South Australia you could be eligible for the $25k HomeBuilder scheme, $15k FHOG, and up to $10k in savings under the FHLDS. This is incredible as it means first home buyers in SA can potentially access up to $50k in grants to buy their first home.
L: Do you think that the C-19 crisis has presented a good opportunity for homebuyers?
JG: It’s difficult to see the pandemic in that way, as it has created so much devastation. However for families that have remained healthy and have secure jobs, then yes this environment has provided essentially a once in a lifetime opportunity in the property market.
If you’d like more information about land or house & land packages available at a Lanser community that qualifies for the HomeBuilder scheme – please call a member of our team on (08) 8132 1115.