Turning the key to a new home is fast becoming a reality for many Greater Shepparton residents thanks to the Federal Government's new HomeBuilder grant.
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The grant, which provides eligible owner-occupiers including first home buyers $25 000 to build a new home or substantially renovate an existing home, is designed to help the housing construction market bounce back from the COVID-19 pandemic.
And Shepparton’s Sessions Builders’ director Clayton Sessions said it looked like it would do just that, as more than 7500 Victorians had already applied to access the scheme since it was announced two weeks ago.
“It was a bit scary there for a few days, we had couple of weeks where the phone stopped ringing, but as soon as the government released these grants the phone is ringing off the hook,” Mr Sessions said.
“We were nearly getting 20 phone calls a day.”
The grant can be used in addition to other government schemes, potentially giving people like first home buyers access to more than $50 000.
“I don’t see people getting a better opportunity for at least the next 10 years,” Mr Sessions said.
However, one hurdle Shepparton buyers may face is obtaining the land on which to build.
Mr Sessions said people might not get into a home as soon as what they would have liked.
“I think land around the Shepparton area may be a little bit of a troublesome hurdle,” Mr Sessions said.
“We're not running out of land but we find ourselves in the position where the land isn’t build-ready.
“With the grants coming out with such a significant amount of money, people want to jump onto it straightaway.
“There are a lot of subdivisions going on at the moment, but they might not be ready for up to two years, which could make things a little tricky,” he said.
However, Mr Sessions urged people thinking about purchasing a home to jump on the offer.
“Now's the time get in,” he said.
“$25 000 is a big boost and it's one of those things you look for 30 years from now when you’ve paid your house off 10 years before someone else has.”
In terms of boosting the industry, Mr Sessions said his team was settling in for a busy 12 to 24 months.
Federal Member for Nicholls Damian Drum said he was pleased to hear of locals’ strong interest in the scheme.
“HomeBuilder will support not only the jobs of carpenters, plumbers, bricklayers and electricians on our building sites, it will also support the timber mill workers who produce the frames and trusses as well as the manufacturing workers who make the glass, bricks, and tiles for our homes,” Mr Drum said.
“HomeBuilder will build upon the Federal Government’s successful housing programs to support Australians to build a new home or renovate an existing home for their family and get our vital residential construction industry to the other side of COVID-19 crisis.”
To find out more, look out for the News's guide to the home and renovation grant next Friday.
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