Money makes move
IT MAY not be enough to entice people on big incomes to move out of the city but Clarence MP Steve Cansdell believes a new relocation grant may be effective in getting some city folk to make a treechange.
The NSW Government's $7000 relocation grant comes into effect this Friday.
It's aimed at enticing people out of Sydney and into country areas to take the pressure off the state's capital.
“It's about trying to kick-start regional NSW,” Mr Cansdell said.
“There's been a massive move from people going from the country to the city and we've got to reverse that trend. Sydney's getting choked up and we need people in the country, so this is just another way to encourage people to move to the country.”
The grant works almost like a first home owner's grant.
Sydney-based home owners who sell up and buy a house in regional NSW will be eligible for the grant.
Mr Cansdell said the drift to the city had always been a problem as country youth moved away to university and to what they perceived as better job opportunities.
“Our kids leave school and go to university ... and it's often not until later in life that people come back to the country,” he said.
“It's often not until opportunities arise through local government or government departments, or even in business. That's unfortunately the reality.
“I think there's something like seven seats, or electorates, that have been redistributed in the last 20-odd years through population drift to Sydney.”
The regional relocation grants officially begin on July 1 as part of the NSW Government's $46.9million strategy to boost regional centres and ease congestion in Sydney. The legislation passed through parliament last week.
The grant will allow treechangers and seachangers to collect the bonus payment when buying a home valued up to $600,000.
Grants For Buying A Home - News
The grant works almost like a first home owner's grant. Sydney-based home owners who sell up and buy a house in regional NSW will be eligible for the grant. Mr Cansdell said the drift to the city had always been a problem as country youth moved away to
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Under the four-year scheme, which starts on Friday, 40000 grants will be made available on the condition that applicants do not spend more than €442000 when buying their new house. Applicants must also have lived in their city home for at least a year
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Obtaining a residence by securing a loan might be a headache especially should the banks are providing you a challenging time about your credit score score – Not to point out the grueling hours of reading via papers and attempting to make perception of the legalities. Far more people are hesitant about approaching a lender to get a mortgage. They are frightened of interest rates and rejection.
When applying for the grant, you prevent all of those headaches. The ideal part is – there isn’t any loan to spend back. Grants are yours to maintain. You don’t need to repay the income provided to you personally to buy your home.
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