FORMAT HOMES NEWS

This article helps you to know why you should consider applying to go for the $25,000 grant and How to go about the New Home Builder’s grant.

Why apply for the $25,000 New Home Builders grant?

1. It is a one-time grant: The grant is the single best opportunity for new home builders that we have seen. It is available for all owner-occupiers of new home builds that are approved between 4th June and 31^st December 2020. The grant is a stimulus package aimed at boosting the construction sector which has been adversely affected by the effects of Covid-19.
2. There is urgency, and it is a strictly limited offer: There is one critical factor that will determine the success of your grant approval – Local Government Councils. To be successful, the local council where you build will play a lead role in determining if your new home building contract is approved prior to 31^st December 2020. The $25,000 New Home builder’s grant has been one of the most in demand initiatives for new home builders in decades, and it is creating a lot of pressure on local council planners to approve new building contracts between now and 31^st You must act now to choose your builder, plan your design, and have your contract processed and approved by your council or risk losing your $25,000 bonus.
3. Low and medium-income earners: The grant is targeted at new home builders with an annual income of less than $125,000 for singles and $200,000 for couples as per 2018-19 Tax returns.
4. Limitations: Whilst the grant is available to ALL new home builders that meet the means test, it is not available to investment or multiple dwelling contracts, and the new build contact must not exceed $750,000 including land.

How to get the New Home Builder’s grant

Format Homes consultants can advise you

Our team of professional home building advisers will explain all the conditions for the grant and advise if you are eligible. The New Home Builders’ grant has strict terms and conditions which need to be followed. Following are the conditions:

• you are a natural person (not a company or trust);
• you are aged 18 years or older;
• you are an Australian citizen;
• you meet one of the following two income caps: $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or $200,000 per annum for a couple based on both 2018-19 tax returns or later;
• you enter into a building contract between 4 June 2020 and 31 December 2020 to build a new home as a principal place of residence, where the property value does not exceed $750,000 (including land);
• construction must commence within three months of the contract date.
• Full conditions can be found on these websites:
  • Australian Government – Home Builder Fact Sheet
  • Australian Government – FAQ’s

Why build with Format?

1. 20 Years building 2000 Homes: At format, we have built over 2000 South Australian homes over our 20 years in new home construction and each one of our homes is built to exacting standards and quality. Each home is as unique as its owner and our reputation demonstrates we deliver quality craftsmanship on time and on budget. We pride ourselves on providing the best quality home construction at the best possible price to quality standards with the best customer service experience available in South Australia. This is why Format Homes is the only builder to win South Australia’s Best Professional Medium Home Building 5 years running. We offer over 200 ready-made plans just as a starting point. We ask hundreds of questions to understand your exact needs to ensure we custom design and build every home to help you realise your dream. You can trust Format Homes for peace of mind and professional advice that only comes from 20 years of building experience.
2. Building to a deadline: Building a custom-designed home can create challenges at the best of times, but having your custom home designed, cost and plan approved by the council within a short deadline is even more challenging. This means you need to partner with a builder who knows how to work to deadlines, who can negotiate through the roadblocks, and who can deliver your dream home without compromise to quality, safety, design, and time. You may find it difficult to meet some New Home Builder conditions, but know that by partnering with Format Homes you will be inexperienced hands with a track record of getting the job done, on time and on budget.
3. Build with strength. With an ensuing deadline, many new home builders might feel the need to make rushed decisions and accept “off-the-shelf” cheaply constructed homes because they feel there is limited time to contract anything else. But, when many are likely to be making the single biggest investment decision of their lives, building with a builder who knows how to build quality and move quickly is paramount. Format has spent 20 years perfecting the art of building strong, durable and desirable homes, and whilst we can build in timber, we are experts at building with Bluescope TRUECORE®. Bluescope TRUECORE® is a unique framing system that uses patented brackets to attach the critical components of your steel frame together. The roof is anchored to the truss, which is anchored to the frame, which is anchored to the slab, offering complete security in all weather conditions. Do not compromise on quality. Do not accept ordinary. Build with Format and find out how you can build luxury living for less whilst qualifying for the $25,000 New Home Builder’s grant.

Get the Grant today

Don’t take chances, the $25,000 grant is a rare opportunity that will only come once in a lifetime. Call us today and have one of our experienced Homebuilder consultants guide you through the application process and help you build your dream home. But, move fast before you are locked out.