The $25,000 HomeBuilder grant announced by the Federal Government will see a land rush in Mackay. This incentive will create strong demand for new homes so people will need to act quickly to secure the limited quality land that is currently available.
Construction has to start within three months of the contract date and the contract has to be dated before the end of this year so there is no waiting around for more land to come online. The best way to source land is to talk to a trusted builder who knew all the options that were available because they knew what to look for and how to avoid the pitfalls. Some blocks of land might look like a good deal but they can end up costing tens of thousands of dollars more when it comes time to build.
Talking to a local builder first means you can secure a block of land that suits your budget and the style of home you want. And it also pays to talk to a mortgage broker to confirm what the budget of the new home needs to be.
The grant would be a great boost to the local economy, providing an incentive to those who have been hesitating to make their next move. The Mackay market was on the cusp of solid demand prior to the COVID-19 because more people are moving to town and the area represents good value and a solid investment due to our proximity to the Bowen basin hub.
We haven’t yet seen the full extent of the uncertainty the pandemic caused in the housing market because there is a delay between signing a contract and turning the first sod and an even longer delay before figures are reported. Mr Pearce said the government had recognised the housing industry was a major employer in the Australian economy and acted accordingly.
As a local project builder, the potential of this building incentive to help provide continuous work for employees and long-term trades is tremendous.
Just remember to trust a local builder as they support local trades and suppliers and this has an ongoing benefit for the whole community.
