building grants wa
- June 4, 2020
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- Threadgold Architecture
The commonwealth government announced today a shot-in-the-arm for the building and construction industry with a home building grant of $25,000 for new dwellings or renovations costed between $150,000-$750,000.
As a registered Architect and Builder in south-west Western Australia, Threadgold Architecture can prepare the design and provide an Indicative Cost Estimate for the home building grants application. The home building grants program is open for six months with the applicants having to have signed a home building contract by 31 December 2020. Importantly, this only relevant to your principal place of residence but in terms of value; think of it as Scomo installing your kitchen at no cost to you…
Immediately after the Commonwealth Government announced the $25,000 home building grant for new building work; the State Government has quickly followed suit with a $20,000 home building grant which is administered by the State Treasury: View Link.
The home building grants will be paid to eligible applicants who:
- enter into a contract to build a new home on vacant land or ;
- enter into an off-the-plan contract to purchase a new home as part of a single-tier strata scheme between 4 June 2020 and 31 December 2020.
The effect of the home building grants announcements has been instantaneous, with an immediate flurry of activity in south-west Western Australia with clients being able to access up to $45,000 after entering into a building contract to construct a Class 1 dwelling. With significant proportions of rural and agricultural land available in Shire of Augusta-Margaret River, Shire of Capel et al; there is a plethora of potential building sites to access the home building grant.
The type of building contract is the key to avoid forfeiting the generous home building grant offered by the State and Commonwealth. Common building contracts offered in the Australian market range from a meagre 3 pages to a more robust 64 pages. Property owners should ensure they sign a building contract with contract clauses that include; superintendent, retention monies, liquidated damages and building program with a practical completion date. Without these crucial contract clauses, property owners may relinquish their deemed cost savings, (courtesy of the home building grant) by signing a thin light weight contract drafted in favour of the builder.
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