Water Leaks – Owner Builders Watch

I bet you did not know that according to Chubb Insurance1
water leaks are more expensive than fire and theft when it comes to claims rectification.

Out of sight – out of mind.

When building or renovating taking notice of pipes and hoses
is the last thing you as the Owner Builder are worried about.

However, internal water damage can be more costly to fix and
depending on where the leak is, difficult to find and can cause long term
damage. Most home insurance policies will not cover the leak because they
consider it to be part of the building process.

They may even consider the leak to be a defect or a
maintenance issue, that you should have been aware of, flexi hosing is a risk
and its potential failure you should have been aware.

Solution, you should consider is a shut off device
that can be installed by a plumber.  This
will limit the amount of water that if a burst pipe or flexi hose escapes into
your home, it could even save you money on your Home and Contents Policy after
finishing building.

1Chubb Get Smart about Water Leaks

The post Water Leaks – Owner Builders Watch appeared first on Australian Owner Builders.

Save Money – Owner Build

Owner Builders you may have missed out of the Federal Government’s hand out but each state has increased their First Home Owners Grant or have a stamp duty discount, a Building Bonus even a grant for household goods.

Below is a list of what you are entitled to when building, so check out your States/Territory’s incentives for you as an Owner Builder.

Since 1987 we have been helping Owner Builders and the two main reasons to Owner Build have not changed – Control of the project and to save money, and how you save money is to take the place of the builder and save his margin and this can be up to 40%-50% in the case of renovations.

So take advantage of the governments offers.

Original article from Domain

NSW – $35,000

On top of the new HomeBuilder grant of $25,000, NSW first-home buyers already have access to a $10,000 grant for new properties costing less than $600,000 and owner-builder/building contracts worth less than $700,000.

If you’re buying land to build a new home, the total price – including the land and home – must be no more than $750,000.

There is also no stamp duty payable on property under $650,000, or vacant land under $350,000, while properties between $650,000 to $800,000, or vacant land between $350,000 to $450,000 get discounted stamp duty.

That’s a saving of up to $24,740 on a $650,000 home.

Victoria – up to $45,000

Victorians already had a $10,000 grant available for new first homes, and $20,000 for new homes built in regional areas, valued at $750,000 or less. They also don’t pay stamp duty on property under $600,000, with discounted stamp duty applying on property between $600,000 to $750,000.

That’s a saving of up to $31,070 for a home worth $600,000.

First-home buyers building or buying a property in regional Victoria can claim $45,000, while those buying closer into Melbourne will receive $35,000.

Queensland – $40,000

Queensland first-home buyers already got $15,000 towards buying or building a new house, unit or townhouse valued at less than $750,000. With the federal government’s HomeBuilder scheme, that will take the total available to claim to $40,000.

Queenslanders also don’t pay transfer (stamp) duty on homes costing less than $500,000, and a discounted rate up to $550,000. That translates to a saving of $15,925 on a home under $550,000.

Western Australia – $55,000

First-home buyers in Western Australia already had access to $10,000 to put towards the cost of building or buying a new home, but the past week has seen their incentives go next level.

On Sunday the state government announced it would spot home buyers a bonus $20,000 for new residential builds on top of the $25,000 already offered by the HomeBuilder scheme.

For first-home buyers, that takes the total cash pool to $55,000 – and that’s before the stamp duty concessions. 

Based on a purchase of $430,000, a first-home buyer would save $14,440 in stamp duty.

ACT – $25,000

Despite the ACT receiving the least amount of help, all ACT first-home buyers are exempt from paying stamp duty on all properties under a concession scheme which applies to new and established homes as well as vacant land, and at any price, as long as the buyer earns less than $160,000.

Prior to the scheme, ACT first-home buyers had $7000 available to them, but the grant was scrapped to make way for stamp duty abolition.

Tasmania – $45,000

Tasmanian first-home buyers were already eligible for a $20,000 grant from their state government. This applied to any new property, of any value.

Tasmania provides a 50 per cent stamp duty discount on properties below 400,000, which equates to a saving of nearly $7000.

South Australia – $40,000

A grant of $15,000 is already available for new properties valued at less than $575,000, so the HomeBuilder grant will take the total for South Australian first-home buyers to $40,000.

All first-home buyers pay some stamp duty in South Australia, although there is an off-the-plan stamp duty concession available of up to $21,330 on properties under $500,000.

Northern Territory – up to $55,000

A number of grants are available in the NT, as outlined on the Home Owners Assistance web page, but they include a $10,000 grant for first-home buyers, as well as a BuildBonus grant of $20,000.

Any home owner is eligible for BuildBonus but it is limited to the first 600 applications.

There is also a discount on stamp duty that could get first-home buyers up to $18,601 off the cost of stamp duty, as well as a scheme that gives them up to $2000 towards the cost of household goods.

Not including the stamp duty exemptions or the household goods grant, first-home buyers in the NT could get up to $55,000 in cash incentives once the new HomeBuilder grant is factored in.

The post Save Money – Owner Build appeared first on Australian Owner Builders.

The Affordable Building Option

affordable housing

Owning a home has always been one of the primary Australian dreams. It seems like our passion for building and renovating increases more each day. Industry figures show that for renovating and extensions alone, the daily spend around the country exceeds $12 million. That means we are spending about $500,000 per hour, $8,300 per minute or $149 per second. Hard to believe isn’t it?

Even though these astonishing figures are doing wonders for the national economy, at the same time home builders are looking for ways to minimize the cost of their new home. So how and where do we find the solution to building the most cost-effective homes? The answer lies in two words – Owner-Building!

By becoming an Owner-Builder, the property owner can decide to supervise or carry out as much of the construction work as they are able. Regulations pertaining to Owner-Building vary in every state of Australia and prospective Owner-Builders need to educate themselves on all local regulations, as they have to take on all of the statutory requirements for which a registered builder is responsible. The Owner-Builder will be responsible for organizing and controlling all works carried out on the site including occupational health and safety, taxation and arranging mandatory inspections.

More and more property owners are looking to control their own projects. As an Owner-Builder, you will have the opportunity to save money and create wealth, as well as achieve the finish you really want that suits your lifestyle. Building this way will prove to be exciting, whilst the results and cost saving can be extremely satisfying.

The decision to Owner-Build or renovate is being taken more and more seriously by individual home owners these days as they understand the benefits. Some of the advantages of Owner-Building include:

Cost Saving: The amount of money saved will depend on the level of expertise shown by the Owner-Builder. One area of savings that can be made by Owner-Builders is the margin traditionally charged by registered builders on the construction, materials and services provided. The level of savings will depend on their negotiating skills for materials and contracted services and the functions an Owner-Builder can perform themselves.

Increase in value of project: Apart from the monetary savings, Owner-Builders can inject better value into the project. Value can mean a larger home or extension for the same outlay or better fittings and finishing.

Project Control: As the Owner-Builder, you will be in control of your projects; that means you will be the decision-maker from the time you start until the time you finish the project. If you want changes made during the construction process, you can do so and not end up paying a hefty premium as a penalty. This flexibility will allow the decision-making process to be enjoyable and productive.

Wealth Creation: Every dollar not spent paying a builder means more in your pocket as the Owner-Builder. Many Owner-Builders have created wealth as the value of their property escalates compared to the actual construction costs. Prospective buyers are willing to pay more for a carefully constructed dwelling which reflects the value of the property. This feature is maximized by Owner-Building.

At Australian Owner Builders we know that many home owners have completed their projects successfully and have surprised even the greatest skeptics. They have minimized the cost of building and created the lifestyle they wanted.

We hope you can do the same.

The post The Affordable Building Option appeared first on Australian Owner Builders.

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