FHOG (New Homes) to build Granny Flat under Affordable housing SEPP

[Beavy]

Hi there,

First time poster so apologies if I'm posting in the wrong place

I'm looking for somebody with a good understanding of the recent changes to Affordable Rental Housing SEPP (2009) and the oncoming changes to the First Home Owner Grant (New Homes) and how it applies in NSW.

Basically I'm wondering if it would be possible to be eligible for the First Home Owner (New Homes) grant which comes into effect October 1 2012 if you were to buying an existing property and had plans to build a granny flat on the same title in accordance with the provisions of the Affordable Housing SEPP.

So you have two properties on the same title, earning seperate rental yeilds. All above board as far as the SEPP goes and as far as I can ascertain it would also be above board for the First Home owner builder Grant?

You may be buying an existing dwelling, which you would live in, but you would use your grant to build your granny flat, as you are entering into a contract to build a new home. Even if it isnt the primary dwelling on the title.

Thought? Issues?

Any advice greatly appreciated.

 

[Beavy]

Called the Office of state Revenue.

And nope. You actually need to be buying a property or title that has never before been lived in to revieve the FHOG (new home) grant.

So a vacant lot, a recently and significantly renovated property that hasn't been lived in, a new home or a demolished home.

Bummer.

 

[JennD]

Damn, this could have been epic.