The National Disability Insurance Scheme, or more commonly referred to as the NDIS, was established in 2013 to support people with disability and provides funding to eligible individuals (participants) so that they can purchase the disability related goods and services that they need. As at 31 March 2023 there were over 550,000* active participants with approved NDIS plans.
Specialist Disability Accommodation (SDA) is specifically designed housing for approved NDIS participants with extreme functional impairment or very high care needs. SDA is funded under the NDIS and assists participants to meet their home accessibility needs, live more independently and improve the delivery of their person-to-person care services. Dwellings must be independently certified, registered with the NDIS and enrolled for SDA use.
*NDIS Quarterly Report (excludes children accessing early connections)
Over 30,000 NDIS participants are expected to be eligible for SDA funding and there is an annual budget of $700m of which only half is being spent. The majority of existing SDA is older stock and group homes which are not meeting the needs of eligible participants. Moreover, there are nearly 1,500 participants stuck in hospitals and more than 3,000 people under 65 living in residential aged care many of whom will meet the eligibility criteria for SDA funding. Along with the investment returns, SDA is socially impactful and improves lives.
An NDIS loan has been designed for NDIS property investment or for NDIS recipients to buy or construct a purpose-built SDA-certified and enrolled property.
Homestar Finance has inhouse loan specialists who can guide you through the loan process journey from beginning to end or alternatively, we can assist in refinancing your current SDA enrolled property.
As a general rule, there is no difference, the application process and assessment criteria are the same. The main point of difference is the security as we need to ensure the property is SDA dwelling is certified and enrolled with the NDIS. We use specialist valuation firms for this purpose which does result in higher valuation costs.
SDA investment comes with unique risks so making an informed decision about getting involved is critically important. A great starting point is the NDIS/SDA website Specialist disability accommodation | NDIS where you will find information on;
• SDA Rules – requirements and obligations for owning and operating SDA
• Design Standards
• Pricing Arrangements
• Dwelling enrolment and vacancies
• Data on SDA and Supported Independent Living (SIL) usage
SDA is a participant led market with a range of investment returns possible based on the type, design and location of the property.
Engaging with reputable SDA Providers is essential as payments from the NDIS go directly to the registered SDA Provider for that specific property starting from when an eligible and approved participant has moved in.
Contact our friendly team or fill in this form and we’ll get back to you pronto.
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Amazing service from the retention team, they were very efficient, fair and straight to the point. From the moment I first contacted them, to the last step of getting my rate updates in the system, everything was done and dusted within 10 days. I had a lot of queries, so I’m sure they would have done it in less than a week! Read more
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Great Experience, thanks Homestar! Edy and the rest of the homestar team made it very easy. He kept us informed during the whole process and was very professional and answered all our questions along the way. We have used them for 6 years with our previous property so they are consistent. I would highly recommend them. Read more
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I’ve been a Homestar customer for a few years now, and recently requested a switch to a more competitive product. I’ve been impressed by the quality of the customer service (especially Regina from the Retentions team), and have had friendly & professional responses throughout the process. Importantly, the turnaround time has been super quick, with minimal time spent on hold / waiting for email responses. Read more
For great rates, great savings and great service, Homestar Finance has you covered. Fill in your details to connect with a dedicated lending specialist who will guide you through your refinancing options
DISCLAIMER: Terms, conditions and eligibility criteria apply to all our loan products and features. Fees, charges and disbursements are payable. Final approval is subject to credit assessment. Information valid as at 21st April 2024 which is subject to change without notice. Please consider if the product is appropriate for your individual circumstances. If you need assistance or have any questions about a product or feature and its suitability, please contact our Loan Specialists.
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