If you’re thinking about buying your first home, you’ve probably heard about the Victorian State Governments plans to double the grant money available for first home owners who build new homes in Regional Victoria. This means that as of July 1st 2017, first home buyers will be entitled to a $20,000 grant, instead of the $10,000 currently available.
The grant has been implemented to attract young buyers into the region and counteract the housing affordability crisis. It's worth noting that the doubled grant is not available on existing homes - so what exactly does this mean for you?
It means that you now have the opportunity to build a brand new home, rather than settling for an existing house that is run-down and in need of repair. You'll be able to enjoy your new home from the day you move in, rather than having to worry about fixing it up or renovating over the first few months. It means that you can have your dream home now rather than having to settle for what's available.
So how do you take advantage of the grant while it’s available? Start by making an appointment with a bank or mortgage broker who will be able to tell you exactly what the grant means for you and how much you can borrow. Once you have a set budget, it’s time to speak to a builder about exactly what you can get for your budget. In recent years, the popularity of modular homes has made them a perfect option for first home buyers. The benefits of building a modular home are extensive, and they can easily be customised to suit your particular budget. Not to mention they can be built in as little as 20 - 25 weeks!
At Swanbuild, we specialise in making dream homes a reality. We design and build modular homes that can be transported to anywhere in Victoria, including areas such as Ballarat, Bendigo, Horsham and Shepparton, all of which are included in the grant.
If you're interested in taking advantage of the $20,000 government grant, it's never too early to get started. If you would like to learn more about the modular home building process, please feel free to book an obligation-free consultation with one of our home design experts who will be able to provide further information and answer any questions you might have.
