For many years, it has felt as though it was only first home buyers, typically young Australians, who were being offered financial incentives to invest in their own homes. Thanks to a fresh initiative from the Federal Government, there is now a wonderful opportunity for over 50s to downsize to a brand-new home and live a life of luxury that you’ve always wanted and long deserved.
Announced by the Government in early June, HomeBuilder offers a $25,000 tax-free grant to owner-occupiers of newly constructed homes. Whilst the initiative has been primarily designed to help the residential construction market navigate the challenges of the Coronavirus pandemic, it is also providing the perfect opportunity for retirees or those nearing retirement to free up equity in their family home and downsize to a brand-new life.
James Kelly, Managing Director of Lifestyle Communities, is particularly excited about this unique prospect for retirees: “It’s the biggest home buyer’s downsizer grant we’ve ever seen. No-one thinks this applies to them because it never has before. That’s why it’s so exciting.”
To qualify for the $25,000 HomeBuilder Grant, the property value (house and land) must not exceed $750,000. This is great news for those wishing to purchase an affordable new home in Lifestyle Communities’ newest communities under development at Mount Duneed, Kaduna Park (Officer South), Wollert and Plumpton.
This once in a lifetime opportunity is only available for a limited time however; as contracts must be signed between 4 June and 31 December 2020, whilst construction must commence within three months of that contract signing date. Whilst the HomeBuilder grant is time-limited, Lifestyle Communities provides generous settlement terms. Once your new home is built, we give you a further 6 months for you to sell your existing house and settle on your brand-new home, so there’s plenty of time to get your old house off your hands before beginning any commitments to your exciting new life.
This could be the perfect moment to make the downsizing change you’ve been considering whilst taking advantage of Government efforts to stimulate the economy in the wake of COVID-19. The development of four brand-new Lifestyle Communities around Victoria at Mount Duneed, Kaduna Park (Officer South), Wollert and Plumpton, could not be timelier. With prices starting from just $360,000 and no stamp duty, council rates or water rates to pay, you’ll have money left over to live a fabulous life of luxury in a secure community full of like-minded people. To find out more call 1300 50 55 60.
* Terms and conditions apply. Read the HomeBuilder fact sheet and eligibility criteria here.