Renovations generally come about when a home or business needs a new lease of life. There tends to be a gap between what the current space is delivering, and what is needed by the occupants.
Renovations can be triggered by events such as kids turning into teenagers, and more space is required (or they are moving home for a short period of time), a second bathroom is needed, or you purchased a “fixer upper’s dream” and everything needs to be overhauled.
The same happens from time to time with the economy – either at a local, state, federal, or global level. Events, like COVID, cause a ripple effect and we watch some governments renovating and overhauling things like borders, policies, and economic stimulus packages.
Enter the HomeBuilder Grant $25K for building and renovating to help stimulate the economy, Let’s take a look at what’s involved, and how residential painting could make or break your grant application.
To access the grant, you will need to meet a certain set of criteria, most importantly if you are doing a renovation on an existing building or new build, the minimum value for the scope of works is $150K and the maximum is $750K, and the value of the existing property does not exceed $1.5Mil
Here’s a summary of what the grant is about, and how to get more information:
- Tax free grant of $25K for new builds or substantive renovations
- For eligible contracts entered into between 4 June and 31 December 2020
- You must be an owner/occupier, and natural person (not company or trust)
- Income caps are at $125K P.A for an individual or $200K for a couple
- Investment properties are not eligible
- You must continue to live at the property 6 months after the completion of works
- Approved grants will be paid once at least $125K of the contract price has been paid.
- It can’t be used for swimming pools, tennis courts, or landscaping
To find out more, and stay up to date with the roll out in WA, register here.
This grant is perfect for a new build or “knockdown rebuild” if you love a fixer-upper opportunity, and here’s where painting might make or break you accessing the $25K.
Why you should include painting in your residential reno to access the grant
Painting can be the DIY trade of choice when it comes to renovating. All you need is surfaces, paint, drop sheets, and painting tools, right?
You also need time, and you also want to ensure that seeming you are entering into a renovation to improve your existing dwelling, that the finished project is at your dream standard. With our professional team of residential painters that cover Perth to Mandurah, we are able to assist you in doing just that.
The rooms that often get renovated or upgraded and involve the largest expense include the kitchen and bathrooms in a house.
New Kitchens can kick off from $25K and up, and bathrooms, potentially the same thanks to tiles, plumbing fixtures, and cabinetry.
Let’s take a look at some scenarios where including paint can be a good idea:
Scenario 1: residential reno of kitchens and bathrooms
Let’s estimate that you have two bathrooms and substantial kitchen renovations including the addition of windows or doors for improved accessibility from the garage and other rooms.
Your current project may be sitting around the $115K mark, meaning accessing the $25K is out of limits.
That additional $10K spend can create savings, bringing your previous $115K out of pocket project down to $100K thanks to careful planning and consideration.
Consider all surfaces, and the purposes of each room to ensure that you are max
Including painting here means you will end up with completely finished rooms, time to work on other projects that are not included in the grant (such as landscaping), or time to spend with your family and friends.
ors, doors adjoining the rooms or ceilings, or even painting the cabinetry in the kitchen and bathroom with a finish of your choice.
Scenario two: The Half- finished- Renovator’s Delight
imising your renovation budget.
For example, a kitchen and bathroom reno may not necessarily include the painting of walls, flo
You’ve got your nightmare house in your dream location and it is at your dream price. It’s just you are dealing with a small, boxy half-finished house, and need to extend the property up to create space for your growing family.
Your contract is coming in at $100K, without allowing for house painting or ensuring that external features like painting the cladding and the roof match with the rest of your house.
Putting additional rooms and a bathroom upstairs, including a stairwell is a big enough project, let alone thinking about having to paint the works, or risk leaving some parts unfinished because of budget.
Residential painting can include the external walls (think brickwork, rendering or timber cladding), the roof of your extension, plus the internal walls, stairwell, steps, ceilings that will be impacted – the whole enchilada.
Painting the outside to finish the project may involve a little more skill, and a higher level of safety equipment to complete it to your ideal standard.
Whilst you still will end up with $100K out of pocket, the additional $25K can open up access to finishing the project to a higher standard, and allow you to spend your time enjoying other activities with friends and family.
I think my renovation project needs to include residential painting contractors, now what?
Residential painting can incorporate the following:
- Internal walls & wall treatments (think dado panelling)
- Floors (think if you are looking for an epoxy finish for an industrial style kitchen)
- Doors, window treatments & cabinetry
- Frames & architraves
- External brickwork
- Timber Cladding
- Stairs & Skylights
Plus, we provide experienced and qualified painters to complete the works, including prep work and clean up post paint, so that you can spend more time enjoying your new space, and less time worrying about whether you have the right equipment.
The great news is we can work with you individually, or your contractor to help you with securing a fully comprehensive quote, and even provide guidance on colour choice and paint choice to help you get the most out of your renovation experience.
To learn more about how the team at Elite can help you bring your renovation project to completion, contact us by clicking here.