The HTB scheme will not work for most people in WA wanting to build a new home. With demand for land outstripping supply, developers are selling lots 6 to 12 months before titles will be available. Housing Australia will not approve this even if you have secured a lot subject to finance and have a signed construction contract within the pre-approval period. It seems, and this is not clear to me, that they want settlement on the property prior to expiry of the pre-approval period or at most within 3 months of your contract.

Plus developers, that we have dealt with, require a subject to finance offer to become unconditional within 3 months of the contract of land sale.

If you can meet that criteria, that is great for a lucky few. Otherwise, you must look for established property and face unrealistic price caps.

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