Relocate and Rebuild: The Government Initiative Helping Flood-Affected Homes Find New Life
The Australian and NSW governments, through the Resilient Homes Program, have introduced a groundbreaking initiative aimed at relocating homes affected by floods in high-risk areas. This program not only helps preserve the heritage of these properties but also allows individuals to purchase and relocate them to safer locations—all with the potential support of government grants. Here’s everything you need to know about this initiative and how Crunch Finance can assist you in turning this opportunity into reality.
What Is the Relocatable Homes EOI Process?
Under the Resilient Homes Program, the NSW Reconstruction Authority (RA) has acquired homes in high flood-risk areas across the Northern Rivers region. Now, in an Australian first, approximately 30 selected homes in Lismore and Murwillumbah are being offered to the public through an Expression of Interest (EOI) process.
The initiative is managed by PRD Northern Rivers, who oversee the marketing and sale of these properties. The EOI process is open to all members of the public until 5 PM on Friday, 14 February 2025. These homes, often built with high-quality hardwood, can be relocated to safer land, preserving their charm and memories while giving them a new purpose.
If you’re interested, here are the key details:
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Condition: Homes are sold as-is, with a hazardous materials report provided for transparency.
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Timeline: Purchased homes must be relocated within 12 months of purchase.
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Evaluation Criteria: Submissions will be assessed based on buyer type, readiness, and financial offer.
For more information, price guides and potential buyers can contact PRD Northern Rivers via:
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Phone: (02) 6624 7700
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Email: [email protected]
The Process: How It Works
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Determine Suitability: Decide if relocating a home aligns with your needs and resources. Relocating a home involves costs for preparation, transportation, and approvals, so it’s essential to understand the full scope.
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Submit Your EOI: Reach out to PRD Northern Rivers to learn more about available properties and submit your Expression of Interest by the deadline.
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Evaluation and Selection: Submissions are evaluated by an independent panel based on buyer type (40%), readiness (40%), and financial offer (20%). Priority is given to flood-affected Northern Rivers residents and those intending to use the home as their primary residence.
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Contract Negotiations: If selected, you will enter contract negotiations with RA to finalise the purchase.
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Relocation: The home must be relocated to suitable land outside of flood-prone areas within 12 months.
Why This Initiative Matters
This initiative offers a unique opportunity to preserve the legacy of homes while giving them a second chance in safer locations. It’s also a practical solution for addressing the challenges faced by flood-affected communities. For buyers, it’s a chance to own a piece of history while benefiting from government support.
How Crunch Finance Can Help
Purchasing and relocating a home can be a complex process, especially when it comes to securing the necessary funds. That’s where Crunch Finance steps in. As mortgage specialists, we can:
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Assess Your Eligibility: Help you understand the financial requirements and how government grants can support your relocation.
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Tailored Loan Solutions: Offer personalised loan options to cover the cost of purchasing, relocating, and renovating your new home.
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Expert Guidance: Walk you through the entire process, ensuring you have the financial backing needed to make your dream home a reality.
