GRANTS AVAILABLE IN REGIONAL VICTORIA
Buying new land is an exciting opportunity to build your new home exactly the way you’ve dreamed about. It can also be challenging to navigate where to start, the budgeting, the buying process and what grants you could be eligible for.
Elloura, Lake Nagambie is classified as regional Victoria and is a great choice for those possibly looking for a tree change, to build their dream home, or to simply live closer to the beautiful Lake Nagambie.
There are a range of lots and house and land packages available in a range of price points. In addition to this, the Victorian Government offers a number of grants that can help make purchasing and building at Lake Nagambie a little easier.
$20,000 REGIONAL FIRST HOME OWNERS GRANT
Eligible first home buyers can receive a $20,000 grant for new homes up to $750,000 in value.
FIRST HOME LOAN DEPOSIT SCHEME
Eligible first home buyer applicants will receive a limited guarantee from the Australian Government to purchase their first home with a deposit of as little as 5% without paying lender’s mortgage insurance.
This is means tested and capped at properties up to $600,000 in value.
HOMEBUILDER GRANT
Eligible first home buyers buying off the plan can receive an additional $15,000 under the Homebuilder Grant if their property is valued under $750,000.
This is means tested and there is a requirement to commence construction within specified time frame of signing the building contract.
For more details on contract dates click here.
STAMP DUTY EXEMPTIONS
First home buyers are exempt from paying stamp duty on properties valued up to $600,000.
In addition, a concession is available for first home buyers valued between $600,001 and $750,000.
For a limited time, the government will waive a percentage of stamp duty for residential properties valued up to $1 million as follows:
50% waiver on purchases of newly built-or off the plan residentail properties; and
25% waiver on existing residential properties
The waiver applies to contracts entered into on or after 25 November 2020 and before 1 July 2021.
This concession is available to both first home buyers, next home buyers and investors. For more information click here
LATEST LAND RELEASE
Our latest release of Stage 10 lots range from $195,000 – $230,000 and building packages start from as little as $442,500, which means, if eligible, you can potentially save over $50,000.*
Find more information using the links below:
*These Government incentives do have terms and conditions that need to be considered to ensure your eligibility. If you think you might qualify, or would like to learn more, we would be happy to help. Otherwise, contact your mortgage broker, bank or accountant to discuss your options.
