First home buyers grant Q - Land w/ super dud house

[Netix]

The Man has seen a property for sale, which is fairly cheap. Cheap because the house on it really needs to be pulled down, it is unliveable. Unless you spent probably the same as it would cost to build a new house in repairs to it (the original part of the house is over 100 years old, and needs all the walls and ceilings ripped out and replaced, I think the roof has issues, bathroom and kitchen need to be replaced [even by my simple living standards], and some of the floors need looking at, electical re-wiring, etc, etc then the 'new' part of the house [three bedrooms] which is about twenty five years old or so is RIDDLED with white ants and more than likely needs to be demolished.) So its basically just land and a shed.

It is advertised as a house on the land, but really not possible. *IF* we were to buy it, we would build a new house on the block anyway (its acreage so big enough to build a second house without necessarily demolishing the first). I can't find anything online about what the deal is with buying land and getting the new house bonus, or what the go would be with this particular property.

Does anyone have any suggestions what direction we can look in? Thanks.

[nothing2lose]

Not sure but I wanted to tell you to double check there is no heritage overlay on the original house. It could be that it is not allowed to be pulled down, or only be renovated in a certain way. I know a couple of people who have come unstuck this way and it turned out to be an expensive lesson.

Good luck!

[Jakabella]

Also if you are in Vic, then you are unable to build a second house on land under 100 acres unless the original dwelling is demolished first and sometimes you have to build new house on the same spot as old house. We have just come up against these hurdles with building a house ob my mum and dads farm.

[Now we're 3]

Hi if you PM me your email address I should be able to get some stuff from my work email around the grant and how it all works. It would have details on where to go get information. As I'm in NSW didn't pay that much attention when it came round as none of my clients would be impacted by it.

Also all FHOG information was normally available on each individual state Office of State Revenue (OSR) websites along with the application forms that you completed to apply and what the rules were etc. Assume this would be there too. I think their website address should be Office of State Revenue, Qld. Do a google search on office of state revenue queensland and that will give you a couple of website links too.

[Netix]

N2L; I hadn't thought of heritage overlay. I usually think of that pretty quickly. Thanks for the reminder!

Jakabella; thanks, I really didn't know that. Bummer.

NW3; your inbox is full!

[Astrid]

Also if you are in Vic, then you are unable to build a second house on land under 100 acres unless the original dwelling is demolished first and sometimes you have to build new house on the same spot as old house. We have just come up against these hurdles with building a house ob my mum and dads farm.

Yeah, check with Council. We were originally advised that to rebuild we would have to demolish first and put the new house on the same foot print. Thankfully after chatting to them a bit more we will be able to build the new house first on a different spot, but the old house must be demolished within 6 months of the new one being classed as liveable.

Have you checked how easy it will be to get a mortgage? Rural areas there tends to be a need to have a larger than standard deposit. It is not the banks, but the mortgage insurers who want this. We know a couple who are on $150,000+, no debt, huge deposit, but it is still not enough to satisfy the insurers. Think they are looking at 25% minimum.

[Now we're 3]

oops sorry just cleared it now for you!

Oh and if you include the postcode I'll be able to have a look at what the mortgage insurers would say about the area. If you could include the size of the block that would be really helpful.

[Bumperstump Cummerbund]

I don't know about VIC, but in WA you need to actually live in the house for 12 months to get the home buyers grant. They check as well