There is a long list of reasons why building a new home is so much better than buying an established first home. Rather than putting our spin on things, we thought we’d ask some of our happy clients…

“We got to choose the layout which suited us best, rather than someone else’s ideas”

“Everything was new, fresh and untouched – just how we wanted it”

“The house we built is far more energy efficient than some of the older places within our budget”

“The older places we looked at just didn’t have the mod cons we wanted such as walk-in robes, big pantries, ensuites and alfresco”

“Maintenance! We just didn’t want to spend every weekend chasing jobs which had to be done on an older place”

“The Warranty on our new home was a big weight off our shoulder, knowing for the next 50 years we were covered for any structural issues which might arise”

So there you have it, in the words of our very own clients.

 

First Home Owner Grant

The current First Home Owner Grant only applies to construction of a new house, unit or townhouse. The purchaser of an established house (it has been lived in before) is no longer able to access the First Home Owner Grant. All the more reason to build your first home.

The current Grant (at time of printing) is a generous $15,000! Just think how much that can assist you in buying land and building your dream home.

To find out how whether you are eligible for this Grant, visit the SA Government website for a detailed list of criteria: https://www.revenuesa.sa.gov.au/grants-and-concessions/first-home-owners

 

Stamp Duty

The South Australian Government will tax any purchase of property with the Stamp Duty tax; whether it is a vacant block of land or an established residential house.

It is a compulsory tax, however if you buy a vacant block of land and build on it, you only pay Stamp Duty on the land value. If you buy an established or fully constructed residential home you will be required to pay Stamp Duty on the entire value.

How much of a difference in cost is this going to be?

Let’s think about this is

• If you buy an existing house for $320,000 in Munno Para, the Stamp Duty is $12,330.
• If you buy a House and Land Package in Almond Grove at Munno Para, you only pay Stamp Duty on the land value of $140,000, a cost of $4,430. That’s a saving of $7,900!

Calculate your Stamp Duty on this page provided by the SA Government