Were you thinking of building a new home or purchasing land being sold for the first time with a new home within the next 6 months but were concerned you would lose out on the Housing Construction Grant? Well, you are in luck! It has now been announced that the State Government will commit $38.7 million in the State Budget to extend the Housing Construction Grant to the end of the year.
If you enter into a Contract up to December 31 of this year you will be eligible to apply for the grant being $8,500.00 for new homes up to a market value of $400,000.00 and phasing out progressively at any value over $400,000.00 and up to $450,000.00.
Since being introduced last October, 7 months ago, more than 1,100 people have received the grant giving a much needed boost to the construction industry.
For more information about the Housing Construction Grant please contact Melanie Finn at Eckermann Steinert Conveyancers on 8366 7900 or visit Revenue SA.