Housing construction Milestone for Code Homes
All the data on new housing development locations point to the West being the most popular.
After the first slab was poured in January 2019, work began constructing a range of affordable house & land packages to suit all budgets.
Are you a first home buyer, down-sizing, or a growing family?
Code Homes can help you!
If you're considering seeing our range, drive over to:
93 Boundary Road Schofields.
Code Homes has over 30 years of successful home building in the region.
Summary of current project:
- The first slab was poured in January 2019
- Project address: 93 Boundary Rd, Schofields (subdivision)
- Number of homes sold in the subdivision: 50
- To date, 65% completed or near completion
- Remaining 35% projected to be completed by late 2020
Western Sydney Airport Opportunities
Western Sydney employment and business opportunities to accelerate with the new airport:
If you are looking at living within a 15 minute drive to the new Airport Precinct then invest in a new home around the South Western Sydney corridor.
According to westernsydneyairport.gov.au :
Western Sydney Airport Construction of Western Sydney International (Nancy-Bird Walton) Airport is underway and on track to begin operations in 2026. The airport is a transformational infrastructure project that will generate economic activity, provide employment opportunities closer to home for people in the Western Sydney region, and meet Sydney's growing aviation needs.
The Australian Government is investing up to $5.3 billion in equity to deliver the airport through a government-owned company, 'Western Sydney Airport'.
The airport will be a full service airport operating curfew free, delivering international, domestic and freight services.
Thousands of jobs and opportunities for local businesses will be created. The airport is expected to support almost 28,000 direct and indirect jobs by 2031, five years after the airport opens.
Thorough environmental assessment has informed measures that will mitigate and manage the effects of the airport's construction and operation on surrounding communities.
Channel 9 also reported:
“Western Sydney Airport continues to break new ground with the start of major earthworks today.
More than 200 machines started rolling onto the massive site for the next phase of construction – one of the largest earthmoving challenges in Australian history.
Around 25 million cubic metres of earth will need to be moved over the next two-and-a-half-years to make way for the International Airport terminal, the runway, roads and rail line. That's the equivalent of 10,000 Olympic swimming pools“
There is now a huge focus on sustainability. More than ever, conservation of energy must be a major consideration in buying a new home, for example, by installing solar panels, more efficient water heaters & air conditioning you can make your dwelling greener, but also on the building itself. What does that mean?
The orientation of the home, the roof materials & colour of the roof and claddings, but also the floor coverings, the windows and all other parts of the building can contribute towards a greener dwelling, with cost benefits to you in energy reduction and more comfortable living. So it's advisable to discuss with us about what we can offer to make your new home even better value.
Code Homes have a focus on sustainability, with many inclusions others view as extras.
Are you a first home buyer in Sydney?
Find out how to acquire your first home sooner.
Know the facts about The First Home Loan Deposit Scheme and the First Home Owners Grant (FHOG) NSW.
First Home Loan Deposit Scheme.
The scheme started on the 1st January 2020. This scheme is designed to help the first home buyers purchase a home faster, by lowering the deposit needed to take out a home loan.
The Australian Government, through the National Housing and Finance Investment Corporation (NHFIC) will guarantee the difference between your deposit (of at least 5 percent) and 20 percent of the value of your home. This means first home buyers can enter the market sooner and be exempt from paying Lenders Mortgage Insurance (LMI), which can potentially save them thousands.
Are you eligible?
- You need to be an Australian citizen, at least 18 years of age, with a medicare card and a first home buyer looking to buy a property that you will live in.
- You must be able to demonstrate your ability to save over time, with a minimum of 5% deposit saved.
- You must meet the income eligibility requirements, which for singles up to $125,000 or a couple earning up to $200,000 per year.
- There are property price thresholds that will apply in capital cities, large regional centres and regional areas. Use NHFICs property price threshold tool to work out the maximum property purchase price in the area you’re interested in under the scheme.
First Home Owners Grant (FHOG) NSW
The First Home Owners Grant NSW 2020, called the ‘First Home Owner Grant (New Homes) Scheme’ was developed to assist eligible first home owners to purchase or build a new home by offering a $10,000 grant.
The NSW Government’s comprehensive package to improve housing affordability is focused on helping first home buyers, who often face stiff competition from investors.
For first home buyers, this comprehensive package will:
- Abolish stamp duty on all homes up to $650,000
- Give stamp duty relief for homes up to $800,000
- Provide a $10,000 grant for builders of new homes up to $750,000 and purchasers of new homes up to $600,000
- Abolish insurance duty on lenders’ mortgage insurance
Stamp duty concessions?
The First Home Buyers Assistance scheme provides first home buyers with exemptions from transfer duty on new homes valued up to $650,000 and concessions for new homes valued between $650,000 and $800,000.
No duty is payable by eligible purchasers buying a vacant block of residential land valued at up to $350,000, while concessions are available for vacant land purchased for between $350,000 and $450,000.
Are you eligible?
First home buyers are entitled to the First Home Grant, however, the amount payable and eligibility criteria varies by state. The guidelines for First Home Owners Grant eligibility in NSW are:
- You must be an individual, not a company or trust
- You must be over 18
- You, or at least one person you are buying with, must be an Australian citizen or permanent resident
- You must be purchasing a brand new home
- You can either purchase a new home worth up to $600,000, or build one yourself worth up to $750,000
- You must not have received the first home owners grant in any other State or Territory
- Applications for the grant must be lodged within 12 months of completion of settlement
You will not be eligible for the First Home Owner Grant if you or your spouse:
- Have previously owned or co-owned a home in Australia
- Have already received an Australian first home owner grant
Every first home buyer should take the necessary steps to understand their options and support available, to help make the process as smooth as possible.
It is important to fully understand what you are getting yourself into. You will need to know about the current economic climate, as well as what is happening in the property market at this particular point in time. It will require an extraordinary amount of research as a young investor in order to make a well-informed decision. However, it is possible to jump start the process by simply approaching our friendly staff at Code Homes who have been successfully advising new home-owners for decades.
New technology is emerging every day which radically changes the way in which businesses and corporations are operating. This is why our highly trained employees are constantly researching and learning in order to ensure that the company is fully coherent with the latest concepts and innovations in the construction industry.
Code homes has a range of construction solutions to suit the first home buyer, so please give us a call to discuss the many options available.
THIS ARTICLE PROVIDES GENERAL INFORMATION AND HAS BEEN PREPARED WITHOUT TAKING INTO ACCOUNT YOUR OBJECTIVES, FINANCIAL SITUATION OR NEEDS. WE RECOMMEND THAT YOU CONSIDER WHETHER IT IS APPROPRIATE FOR YOUR CIRCUMSTANCES. YOUR FULL FINANCIAL SITUATION WILL NEED TO BE REVIEWED PRIOR TO ACCEPTANCE OF ANY OFFER OR LOAN PRODUCT. IT DOES NOT CONSTITUTE LEGAL, TAX OR FINANCIAL ADVICE AND YOU SHOULD ALWAYS SEEK PROFESSIONAL ADVICE IN RELATION TO YOUR INDIVIDUAL CIRCUMSTANCES. ALL LOAN APPLICATIONS ARE SUBJECT TO LENDERS’ TERMS AND CONDITIONS, AND ELIGIBILITY CRITERIA. LENDER FEES AND CHARGES WILL APPLY.
Dual Occupancies (Duplexes) and Granny Flats
Code Homes has the experience in maximising your land to build wealth.
Unlock the wealth in your property
You might have a piece of land which is large enough to allow for two homes. This can double the income from your property, as well as its expected growth over the next decade or two. Many people today own old homes which have tremendous sentimental value for that family and therefore, do not want to sell that property even though the property can no longer provide them with the level of comfort which they may desire.
Dual Occupancies (Duplexes)
Building a duplex is a great option for a bigger block of land. A duplex is usually a double-storey, to fully utilise the block space and is usually the most efficient form of dual-occupancy.
Duplexes and dual-occupancy homes are increasing in popularity. This is providing high-density living conditions which are becoming extremely attractive to occupiers, home-owners and investors. There are many reasons why this option is attractive.
Benefits of a Duplex:
A duplex is one certain way for investors to gain an optimized return on investment because duplexes provide them with two income streams instead of one. An additional benefit is the fact that they do not have the inconvenience of additional costs such as Body Corporate fees and separate rates, which are applicable when it comes to independent land title ownership.
Another form of dual occupancy is the granny flat which is limited to a maximum of 60 sq metres, and because of their small size, approval can be done by a private certifier, eliminating the need for the council process.
Benefits of a Granny Flat:
- Could provide a rental income which can help to pay off the mortgage.
- Can be used as accommodation for an elderly parent or another relative.
- The granny flat can add value to your property and could be an appealing proposition to many potential purchasers
- Can be a separate office space for your growing business.
Let us help you make a decision.
Code homes have been building duplex homes for over 30 years. With our experience building on all sorts of lots, we can advise you about how a duplex could work on your land. To find out more, book a call with us for a free no-obligation consultation.
What is the best value?
When the current cost of building materials are taken into consideration, it’s often more economical to simply rebuild a property since the renovation of the old home is often more expensive.
This is very clear when you calculate the relevant costs per square meter (based on HIA research).
When you are assisted by Code Homes it will be entirely possible to upgrade your existing home to a sophisticated contemporary design which will allow you to make more effective use of the available land, create more effective living spaces and enjoy the beauty of modern construction materials crafted into your new home.
It is always best to do business with a reputable and well-established building company.
Let Code Homes help you with planning advice
Building and planning can be time-consuming and complicated and it can be difficult trying to keep up with local Councils and Government departments.
We can assist you with:
- Houses, dual occupancies or townhouse
- Development approvals
- State Government approvals
- Construction options and appropriate relevant rules.
According to The Housing Industry Association ( HIA ):
“Today’s new homes and renovations are much cleaner and greener than the homes of the past. New homes must include energy efficiency and water efficiency features aimed at helping the homeowner save money, and reducing the demand on our precious natural resources.”