Don’t miss the opportunity to receive more when building your first home in 2017!
Heard the exciting news? The State Government has increased the First Home Owners Grant from $10,000 to $15,000, but be aware - it’s only available until the end of 2017.
It is estimated that an extra 650 first homebuyers will step onto the WA property ladder this year as a result of the cash boost, making 2017 a strong year for the housing, building and construction industries. Now is the time to take advantage of the opportunities, but be quick in deciding – because the window will soon close.
Why 2017 is a Good Time to Build
In the past, Western Australia was considered one of the least affordable states in which to buy a first home. The good news though? For those thinking of building in 2017 – the industry has improved and opportunities are much, much brighter.
Plunkett Sales Manager, Jeremy Muir, says 'We can expect to see additional demand for affordable housing as a result of the increase to the first homeowners grant, which will also bring some construction work forward and create a renewed sense of energy in the marketplace,”
“These are all good results for both homebuyers and the home building industry. In terms of extra jobs, we can expect to see the effects flow through in the second half of the year once homes signed up in the next few months start getting to site”
And as for encouraging more first homeowners to build or purchase homes? Mr Muir believes the $15k increase will succeed.
“The increase to the grant will definitely have a positive impact. It will help make building your first home more affordable, meaning more people will be building a new home as a result. It could make all the difference to some first homebuyers, helping them into their own home when they might not otherwise have been able to,” he says.
As with most things, there is some fine print when it comes to the First Home Owners Grant, but as a rule of thumb, you’re eligible to apply for the $15,000 if you’re an Australian citizen or permanent resident over the age of 18 who has never owned property in Australia before, and are building a new home or buying a newly-built home.
And as for stamp duty? Mr Muir states experts should know that eligible first homebuyers pay no stamp duty on vacant land priced up to $300,000, and a reduced amount of duty if its less than $400,000. That’s less money you have to find to make your dream of home-ownership come true.
Important to know: The grant is not available if you’re purchasing an established home that has already been lived in. As if you needed another reason to build your own place! Image Source: assuredpropertygroup.com.au
Where to build for the first time in WA?
Listening to their customers, Plunkett Homes knows where the best and more affordable first home buyer locations are across Perth. They have display homes located conveniently in the areas along with affordable house and land packages by Domain by Plunkett to match.
Jeremy’s top first home buyer suburbs are:
- Aveley, a suburb east of Ellenbrook and south of The Vines that is close to the famous Swan Valley wine region. (Visit The Colorado Display Home)
- Baldivis, a semi-rural suburb 46km south of Perth CBD, and 11km southeast of Rockingham. It claimed last year’s crown as the fastest growing suburb in all of Australia. (Visit The Verona Display Home)
- Hilbert, a semi-rural suburb located within the City of Armadale, located on the city’s fringe, boasts a large wetland and beautiful parks. (See The Revolution House & Land Package)
- Whitby, a semi-rural suburb rich in history that’s nestled in the foothills of the Darling Ranges, located 40 minutes south east of Perth. (Visit The Cardinal Display Home)
Is this your dream first home? Whitby house & land could be yours from under $292,000 if you build with Domain by Plunkett. Image: The Cardinal Display Home in Whitby.
And for those wanting to build a second time ‘round? If you’re wanting to knock down and start again in established suburbs, think strategic.
Mr Muir’s top suburb picks for second-time home builders are:
- Dianella & Morley – both have big blocks which make it great for sub-division.
- Scarborough – great ocean redevelopment opportunities on the esplanade.
- Melville & Palmyra – big blocks and a friendly council that is keen for new homes.
- Brigadoon, Bullsbrook, Chittering & Wundowie – these rural suburbs are an ‘escape’ from the city and yet not too far away either. They are popular for those wanting a ‘country’ change.
If you are considering property development or sub-division, it is highly recommended to speak with property development specialists to safeguard your planning and make confident financial decisions. Speak to Plunkett Developments, the specialist property development division at Plunkett Homes, to find out more.
Why build with Plunkett? - Cheap House & Land Packages!
The team at Plunkett understands the ins and outs of the grant, and can guide you through all the paperwork. Their experts know everything there is to know about getting you into your first home, from applying for the grant and finding you the right home loan, to putting together an awesomely affordable house and land package.
If you can’t find a design you like – they’ll happily design one for you!
If you’re looking for house and land packages that are far cheaper than median house prices, you’re in good luck with Domain by Plunkett, where prices are below the median house price.
- Lakelands where package prices start at $290,000
- Whitby, where you can buy a house and land package from $292,000.
- Golden Bay, with prices from $305,000
- Yanchep, from $310,000 also sit below the median house price.
And if you choose one of our cost-effective house and land packages featuring The Cavern, you could have your block and your brand new house all done and dusted for as little as $279,000.
Alternatively, search Domain by Plunkett’s House & Land search to find a house and land package that suits your budget and lifestyle.
How easy is that to say Bye-bye landlord!
First homebuyers in WA really do have one of best opportunities to build right now, but the window is closing. Don’t miss your chance to say bye-bye landlord this year!
Thanks to Jeremy Muir for contributing to this article.
Download the QBA Australian Housing Outlook
Delve into Australia’s residential property landscape analyses and forecasts with QBE’s Housing Outlook for 2016-2019. Available for download now.
Ready to Build? Get started with a $15,000 Boost with Domain by Plunkett Homes
With a 50% increase in the First Home Owners Grant, there’s never been a better time to build your first home with Domain by Plunkett Homes. They have an established team of experts to help you through the maze. Find out more here.
Invest in a Display Home in 2017
Have you ever thought about investing in a display home? With guaranteed returns of 8% and impeccable tenants, these are just two good reasons to invest in a Plunkett display home with a leaseback arrangement. Read the full 5 Reasons to Invest in a Display Home here.
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