All Topics / Help Needed! / Could you build 2 units and still get the $15,000 first home owner grant (new homes)?

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  • Profile photo of npomfret86npomfret86
    Participant
    @npomfret86
    Join Date: 2013
    Post Count: 10
    May 14, 2013 - 6:47 am

    Hi,

    I am currently in the market to buy or build my first home/eventual IP in NSW South coast or Illawarra area and was considering how to best utilise the 10-15K (Depending on timing) new home owner grant. Just wondering if anyone has any understanding or information on whether units or a duplex could be built and still receive the grant. I have looked on the NSW office of state revenue website with no real luck, if you have any suggestions of where I might be able to find some better information that would be great.

    Any tips info or other idea's of ways to utilise this grant would be much appreciated.

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539
    May 14, 2013 - 7:15 am

    The topic of buying a duplex with FHOG was discussed here;

    https://www.propertyinvesting.com/forums/property-investing/help-needed/4338885

    Not sure if the rule would be different if you were "building" rather than "buying existing property"

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of wilko1wilko1
    Participant
    @wilko1
    Join Date: 2010
    Post Count: 510
    May 14, 2013 - 1:56 pm

    If you wanted to be financially smart about it.

    You could have a building designed that was say… 4 to 5 bedroom with 2 bathroom.

    you might select to buy a medium sized block that within council regulations and the development plan could of allowed a semidetached or joint walled property to be built if you.

    You have the large 5 bed 2 bath home constructed as a single dwelling

    You then qualify for you grant etc etc wait 6 months live it do all the other things they want.

    And then because of your brilliantly designed building where you already had a fireproof hallway installed and all the other regulations that would of been need to be approved as a semi detached home.

    You then subdivide the property add another water meter to the left or right side . You already allowed with your builder to have a IP point before the 2nd toilet meet up with the first toilets line.

    and behold two properties.

    Profile photo of wilko1wilko1
    Participant
    @wilko1
    Join Date: 2010
    Post Count: 510
    May 14, 2013 - 1:58 pm

    id on that you could have single garages on both sides of you house as well.

    Profile photo of npomfret86npomfret86
    Participant
    @npomfret86
    Join Date: 2013
    Post Count: 10
    May 21, 2013 - 12:55 am

    Thanks very much for your suggestions. 

Viewing 5 posts - 1 through 5 (of 5 total)

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