News

Builder claims best time to buy

Peter Leotta claims now is a great time to build.
Peter Leotta claims now is a great time to build. John Gass

DESPITE the introduction of the carbon tax, GJ Gardner Homes Tweed owner Peter Leotta says if you are looking to build a new property, now could be the best time to do so.

"There's a lot of benefit to building new," Mr Leotta explained.

"On top of the government stimulus, buyers get a brand new home under warranty and get exactly the home they want."

As of July 1 this year, new home builders of houses valued up to $650,000 will receive a $5,000 incentive from the State Government.

The grant will also be available to people buying land valued up to $450,000 on which a new home will be built.

It is in addition to a $15,000 First Home Buyers Grant on offer to new home buyers from October 1, 2012.

The grant will be reduced to $10,000 on January 1, 2014 for eligible transactions which have a contract date (commencement date) on or after 1 January, 2014.

An earlier scheme which saw first home buyers receive $7,000 when buying an established property will be scrapped on September 30 this year and the new $15,000 grant will take its place.

Mr Leotta said the impact of the carbon tax on new homes was uncertain and would not be known for some time.

"We'll see a period of adjustment but until builders encounter cost overruns and are able to pass them on, we will not know what the total increase will be," Mr Leotta said.

Industry experts expected to see a rise of around $2000 for an average country home of about $300,000.

Mr Leotta said although prices were bound to rise, attributing price increases to the carbon tax was not necessarily right and builders should be very careful doing so.

Topics:  gj gardner homes, property, real estate



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