With the Federal Government offering $25,000 grants to those qualified to receive them (more information on this here), the property market has seen a rise in enquiry on particular properties that require renovation and work.
Many agent’s have reported fairly instant impacts on available listings that match the Scheme’s parameters, according to Domain, since its release a few short weeks ago.
This has been evident on our end of things as well; our recent sale at 21 Pretoria Parade, Hornsby, a home that many deemed well-suited for renovation, saw a multitude of buyer’s come through with plans to carry out work to the home if they were the successful purchaser.
Another listing of ours at 12 Werona Street, Pennant Hills, which only came to market last week, has had many people inspect and enquire and a great deal of those consult their builders to assist them in ascertaining build costs, with hopes to fit the eligibility criteria.
What we have found interesting too, is on the rental side of things there have been a number of property owners opting to take on short term leases of rental properties in order to carry out renovations and re-builds to their existing homes.
Wanting to take advantage of the HomeBuilder Scheme but not sure if your property is worth under $1.5mil? Reach out to us on 02 4504 8004 and we’ll help you!