By now you probabably would have heard that the government is contributing $25,000 towards new builds and renovations, but is this going to help everyone? The short answer is no. Let me tell you why.
To access the $25,000 government grant, you need to spend at least $150,000 on a home renovation not including pools, garages and tennis courts (and let's be honest - who's spending this much on home renovations when there is so much uncertainty in the air?) or you must be building a new home worth no more than $750,000 - including the land.
Also, only individuals earning less than $125,000 per year or couples earning under $200,000 per year can access the grant. Contracts must be signed by December 31 and work has to begin within 3 months.
Knock down re-builds are eligible as well, so this could help with finding a suitable block to build on.
So, basically if you're wanting to build a house to live in (no investment properties are eligible), and you are within all of the ranges above, the extra $25,000 would make a big difference and would benefit you a lot. If you're looking to build, have a look at all the different house and land packages that I currently have for sale and if you see something that catches your eye, please let me know if you have any questions whatsoever.
If you would like to read more about the $25,000 government grant, you can do so on the Qld Government's website. Realestate.com.au has written some good articles on it, as has Cherie Barber. Check them out too and comment below to let me know your thoughts.