Build a new home in 2022

  • Post category:Home Design
There’s nothing quite like living in the tropics. Whether you are a local or coming from elsewhere in Australia to carve out your own slice of living in paradise, 2022 is promising to be a great time for building a brand new home in the Cairns region. This article explores everything that Cairns has to offer, the current property climate, and how you can save big money while building a home that will also provide a quality return on investment.
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The benefits of building a house in Tropical North Queensland

The Cairns region is currently experiencing a period of an unprecedented boom, even despite the impact of COVID-19. The $176 million upgrade of the Convention Centre is complete, which means scope for more local and international entertainment and sporting events. The world-famous Esplanade has also had a $28 facelift and Boardwalk Social, a hospitality and entertainment hub seating 350 people is complete.

 

This is on top of the enormous retail opportunities, access to the Daintree Rainforest (including by Skyrail Rainforest Cableway) and the Great Barrier Reef and the other incredible lifestyle opportunities the Cairns lifestyle offers.

 

In terms of property as an investment, two Cairns suburbs – Woree and Manunda – made the top five for return on investment of all Australian suburbs just prior to the COVID-19 outbreak. In Woree, houses are experiencing a return of around 6.5 per cent, units are returning a massive 10.3 per cent.

 

Sea changing southerners pushed the price of Cairns prices up 4.9 per cent across the board in 2020 and this trend is expected to continue as more city dwellers look for more space at affordable prices. Cairns offers the perfect balance between price and lifestyle, so building property is not only going to be great for your standard of living but your overall investment as well.

Front Of New Residential House

The grants available for building a new home in Cairns

Another major incentive for constructing your dream property in the Cairns region is the grants available to drive down the costs. Some of the leading grants that you may be eligible to access include:

  • Regional home building boost grant: This is a state government grant designed to encourage people to build in regional Queensland (including the Cairns region). Eligible Queenslanders can access up to $5000 after the construction of a new property valued up to $750,000.
  • HomeBuilder grant: Up to $25,000 is available for couples and individuals looking to purchase, build or significantly renovate a property.
  • Queensland first home owners’ grant: If the property you are looking to build in Cairns is your first property, this grant enables you to access up to $15,000.

These grants can be used together, which means you can save up to $40,000 on the cost of building your dream home in Cairns or the surrounding regions.

The procedures for building a home in Cairns

The first step is saving for your deposit. Michael Hoare Builders can assess your financial situation and provide information on the house and land packages available and the deposit required.

 

When you meet the financial requisites, our team can help you through the process of applying for grants you may be eligible for to reduce costs. Then the design process can begin, working with your budget to plan a home that meets your loan approval. Once you receive unconditional approval for the project and the land purchase has been settled, construction can begin.

 

Want to know more about how to get started with the design and construction of your new home in Cairns? It all starts with a conversation. Give the team at Michael Hoare Builders a call on 0409 563 123 and we can help you with everything from the plans and permits through to grants and the final construction.