25 Aug How To Save on Your 2020 Home Build
This year has been one of disruption, and it has caused some people to place new home and renovation projects on hold. But for those with the financial means, now is an excellent time to launch into a new building project. There are currently a number of local and Australia-wide incentives on offer to encourage homeowners to kickstart their building projects and consequently boost the local and national economy.
Today on the blog we’re walking you through the latest building initiatives available to help you save money on your 2020 home building project.
No town planning application fees
For a limited time, Brisbane City Council is offering the chance to lodge town planning permit application with no fees. It’s one of the many measures in place as a part of Queensland’s Coronavirus economic recovery task force.
Planning permits are necessary for many of the proposed residential projects in Brisbane, no matter if it’s a custom home project on an empty plot of land or an extension to an existing home. These applications can be arduous and time-consuming and can take anywhere from three weeks to four months to be lodged and approved. Once obtained they are valid for two years so even if you’d rather begin construction in 2021 or early 2022, this is the perfect opportunity to get your affairs in order and take advantage of this excellent council initiative.
If you apply before 30 September, you’ll be able to lodge your town planning application for free. If you lodge your application between 1 October and 31 December, you’ll receive a 50% discount.
Custom home builders or renovation builders in Brisbane will be able to guide you through the process and provide information on what documentation and paperwork you’ll need to apply for these permits. To learn more, head to Brisbane City Council’s website.
In the wake of COVID-19, the federal government announced the HomeBuilder stimulus grant, to provide eligible Australians with $25,000 to spend on a new home or renovation project. This grant is valid for all residential dwellings, whether it be a house or an apartment.
If you’re over the age of 18 and have an income below $125,000 pa, or below $200,000 for couples, you are most likely eligible. You must enter a builder contract before 31 December and construction must commence within three months of contract signing for your project to be eligible for the grant.
Homeowners are able to spend this grant on the construction of a brand new home valued up to $750,000, or the substantial renovation of an existing home valued below $1.5 million. Most Brisbane home builders will be able to explain your options and discuss with you what can and cannot be built under this scheme. You can learn more about HomeBuilder here.
Want to learn more about saving on your building project in 2020? Get in touch with Michael and the team at Linear Design + Construct today and let’s start planning.