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BUILDING STIMULUS PACKAGE

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Luca | 12 Jun 2020, 11:26 AM Agree 0
Hi, I was hoping someone could help me. There's not a great deal of info out there at the moment but I'm hoping to take advantage of the $25,000 building grant. here is my situation:

1) I own a property together with my brother (worth approx $950,000). We are both on the title.

2) We have approved plans to knock down and build 2 x houses on the existing block. We're hoping to commence later this year.
FYI, we weren't planning on subdividing the blocks until later down the track once the properties have been built.

3) The total cost of building the 2 new houses will be $1,020,000

4) I have spoken to our builder who said that he'd be happy to create 2 building contracts, one for each house, with separate names on the contracts.

5) I have spoken to our mortgage broker, who is confident that we can get separate 'owner occupier' loans for each of us.


My question is, will we be eligible for 2 x $25,000 in this situation (one for each brother)

Or, will we need to subdivide the block first and separate the titles before we'd be considered for one or both grants?


Any advice would be much appreciated,

Thanks, Luca



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