A Brisbane couple has leveraged multiple government stimulus initiatives to fund the construction of a new home on Russell Island, about 45km east of the Brisbane CBD. Chris Gorter, who runs a snake-catching business, and his partner Christie, who lost her job in fashion during the pandemic, are taking advantage of the federal HomeBuilder grant, the Queensland government's $15,000 grant for new homes, and early withdrawals from their superannuation.
The couple purchased a plot of land on Russell Island for $21,000, noting that real estate there is far cheaper than in the city's suburbs due to the need for a ferry. After withdrawing $20,000 each from their superannuation under the government's early access scheme, they have about $59,000 remaining to buy a one-bedroom prefabricated kit home, a deck, and a shipping container for storage.
Gorter told the Guardian that they meet all criteria for the grants and have completed soil testing and pre-drainage work. They have a builder ready to sign off on the project and hope to complete the home before the end of the year. Future savings will be used for landscaping and beautification.
Gorter believes the home will compare well to those of friends buying closer to the city, despite costing a fraction of the price. He notes that the commute to Brisbane during peak hours will be similar to driving from West Ipswich. He encourages other young couples priced out of the housing market to consider similar options on cheap land outside the city.
According to Domain, residents of other states can access even more grants. Victorians building a new home in a regional area can get up to $45,000 in combined state and federal grants, while Western Australians can access up to $55,000 through a combination of state and federal schemes. The HomeBuilder grant requires that the combined value of the home and land does not exceed $750,000.
