Build | 18 January 2022

Now’s the Time to Build

by Carlisle Homes

Now is a great time to build your dream home - here's why.

If the pandemic has taught us anything, it’s the importance of home. More than just a place to retreat to at the end of the day, it’s where we recharge, grow, make memories with loved ones and, increasingly, conduct our working lives. 

If spending more time indoors during lockdowns has only highlighted what’s lacking in your current home –whether it’s insufficient space, a too-small backyard or the misery of pouring your hard-earned money into rent – the good news is, now is a great time to build the home you’ve always wanted.

And there’s plenty of help available to get you there. There are a number of financial incentives available that make it easier to get into your dream home. In addition, the Federal Government’s Budget for 2022 includes multiple schemes and incentives specially designed to give you a further boost into the property market.

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With more government financial incentives and help available, it’s becoming easier to start building your dream home. Featured here: Beaumont, Aurora Estate, Wollert.

First, let’s talk interest rates. Currently in Australia, interest rates are at a record low. But they aren’t expected to stay that way for long. According to the RBA Governor Philip Lowe, we can expect to see rises as early as 2023. That means now is the time to lock in those low rates!

If you’re a first-time home buyer building a new home of up to $750,000 in Victoria, you may be eligible for the $10,000 First Home Owner Grant (FHOG). You may also be able to get an exemption on duty if your property is valued up to $600,000 or a concession on homes of $600,001 to $750,000. In addition, if you buy an off-the-plan property as a house and land package, you can get an extras off-the-plan concession. Savings like these quickly add up! 

And there was good news for first-time buyers in this year’s federal budget too – 10,000 new spots have been added to the First Home Loan Deposit Scheme. This program allows you to build a new home or buy a newly constructed one with a deposit as little as five per cent. The government acts as a guarantor for the remaining 15 per cent.

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If you are a first-time buyer, you can get help with your deposit by applying for the First Home Loan Deposit Scheme. Learn more about eligibility here.

The First Home Super Saver Scheme, which allows you to save money for your first home inside your super first, was also extended. This lets you save faster than with a standard deposit account as your superannuation receives concessional tax breaks. Find out more about the 2021 federal budget’s help for first home buyers here.

Are you a single parent who thought it would be years before you’d be able to save up the deposit for your own home – if ever? Not necessarily so. The government’s new Family Home Guarantee is a scheme to help single parents with dependents to get over the hurdle of saving for a deposit – in fact, you can purchase a home with a deposit as low as two per cent. And you don’t have to be a first-time buyer to apply. There will be 10,000 spaces available on the scheme over the next four years.

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Single parents with dependents can now utilise the new Family Home Guarantee to get over the hurdle of saving for a deposit.

With so many government-funded programs available, there’s no question that it makes smart financial sense to invest in a new home.

But it’s about transforming your lifestyle too. Having room to entertain, space for the family to gather and connect, quiet spots to recharge or work, and the ability to enjoy an indoor-outdoor way of life can bring immeasurable satisfaction and joy and turn your home into a true sanctuary. It also gives you the peace of mind of knowing that however chaotic and unpredictable the outside world can be, you and your family have a nurturing retreat to come home to.

Moving to a master-planned community comes with the additional benefit of a completely self-contained lifestyle. Gone are the days of living in the ‘burbs and making the lengthy commute into the city for work, shopping and schools. Today, residential developments are expertly designed to encourage you to stay close to home. If you make the smart choice to build in one of these areas, not only will you be purchasing a newer and larger house, you will be building in a neighbourhood that is surrounded by parks, playgrounds, schools and comprehensive retail and commercial precincts with shopping, medical facilities and restaurants. And you can be assured that your neighbours are people who share the same lifestyle values as you.

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Building your new home in a master-planned community means the amenities you need - parks, schools and a bustling neighbourhood - are right at your doorstep.

Been dreaming about your forever home? Now’s the perfect time to turn that dream into a reality. Come along to one our display homes conveniently located across Melbourne.

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