When stage two of the Eastwood housing development was released in Goonellabah yesterday, four families arrived the night before and camped out to make sure they got their preferred homesite.

Eastwood Project Director Sam Rowe said the Eastwood stage two development was called the ‘Hemlock Release’ and marked the growth of the McCloy Group’s first residential community development in the Northern Rivers,

“Set on 21 hectares off Invercauld Road, Eastwood was first launched in November last year, with Stage 1 offering 23 homesites,” Mr Rowe said.

“Stage 1 is now registered, and it is great to see homes have commenced. 

“Earthworks are well underway with Stage 2 and the new park and playground facilities also.”

Mr Rowe said with the current low interest rates available, families are able to build an affordable brand-new home to suit their families.

“With several grants on offer for First Home Buyers and Second Home Buyers, the financial rewards from the state government could save you tens of thousands of dollars,” he said.

What grants are available?

HOMEBUILDER: a time-limited grant program to help the residential construction market to bounce back from the Coronavirus crisis. HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home where the contract is signed between 4 June 2020 and 31 December 2020. Construction must commence within three months of the contract date.

HomeBuilder will complement existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes.

FIRST HOME BUYER ASSISTANCE SCHEME: If you’re a first home buyer, you may be entitled to a concessional rate of transfer duty or even an exemption from paying it altogether under the First Home Buyers Assistance scheme (FHBAS).

FIRST HOME BUYER GRANT (NEW HOME) SCHEME: If you’re a first home buyer and you’re buying or building a new home, you may qualify for a $10,000 grant under the First Home Owner Grant (New Homes) scheme.

NSW STAMP DUTY SLASH: Under the changes the threshold above which stamp duty will be charged on new homes for first home buyers will increase from the current $650,000 to $800,000, with the concession reducing on higher values before phasing out at $1 million.

Under the changes the stamp duty threshold on vacant land will rise from $350,000 to $400,000 and will phase out at $500,000.

“The government forecasts more than 6000 first home buyers will benefit from the changes, saving eligible first homebuyers thousands of dollars,” Mr Rowe said.

For more information on Eastwood, as well as land availability, the purchase process and the new community contact Clint McCarthy on 0423 727 648 or visit eastwoodliving.com.au