Nathan Everingham & Co real estate agent Nathan Mackay said while the grants available should be taken advantage of, he's worried a stagnant economy won't be worth the investment.
“In my opinion, any financial incentive when it comes to buying or building a home is a very positive thing,” Mr Mackay said.
“These grants are made easily accessible by the government and should definitely be taken advantage of.“I don’t believe the grant incentive will make a big difference to our area though. My reason for this is purely down to the economy of the area.
“Without any major work prospects in Finley, there is no real reason to build here apart from the low prices of vacant residential land.”
In addition, Mr Mackay said new housing developments can take more than one year to be taken off the market.
“The market trend for Finley is low, houses tend to be on the market for an average of 12-18 months before being sold,” he said.“Developments of new homes in the Finley area are also low.
“If the work was available in the area then I believe the trend would go up and allow for a stronger real estate market.”
Mr Mackay said for first home buyers, he recommends an investment strategy to build a future portfolio.
“You would be able to buy and renovate a good sized three bedroom home on a double block for an average of $250,000.
“My opinion would be (as first time home buyers) to buy a small property and renovate. You could then sell for a small profit and use the capital to buy a bigger home.
“Finley is basically central to a lot of tourist spots so investing in the region would be a clever idea.”
The HomeBuilders grant excludes couples who earn in excess of $200,000 a year and individuals making more than $125,000 per year.The grant cannot be used on investment properties, and owners who intend to build or renovate their own home without the help of registered builders will also miss out.Each state or territory must sign a National Partnership Agreement with the Commonwealth Government before the grants can be issued.
