Renovation Assistance to Jumpstart Economy

The government wants to get the economy up and running again. That’s why they’ve released stimulus funds and relief packages. 

But the latest news is a big one...

Renovation Assistance

The Scott Morrison government announced the Homebuilder boost worth $688 million in funding. They’re doing it to kickstart the residential building industry.

And they’re giving $25,000 grants for those looking to build or renovate their home. 

Whilst it’s great news there is one caveat...

It doesn’t apply to investors... because the government thinks we’re doing well enough as it is. 

These grants are for first-time owners or owner-occupiers who want to make changes to their home. They’re available for those building homes worth up to $750,000. Or for applicants undertaking major renovations worth $150,000 to $750,000 on existing properties valued under $1.5 million.

It became available on the 4th of June and runs until the end of December. But I predict that we won’t make it until December. If you do the math for how much they’ve allocated for this divided by $25,000, it may go much quicker.

These grants can help kickstart 27,000 residential projects in Australia as well as support 1 million people in the industry.

Now, as an investor, it may disappoint you that you don’t qualify for these grants. But it helps us property investors in other ways.

As I’ve said before, homeowners drive the property market. When real estate increases in value, it’s because of homeowners. Homeowners make up 70% of the marketplace.

So now, these homeowners receive this $25,000 gift from the government and the banks are offering record-low interest rates. On top of that, there’s no Stamp Duty under $600,000.

Do you see where I’m going here?

There’s an opportunity for many homeowners to get into a property right now. It will never be this good again. And as investors, our properties also go up because of the demand.

It’s a win-win situation.

If you’re looking to get into property investment, there’s no better time to start. There are amazing opportunities right now…