• Steph Delaporte

HomeBuilder Grant

Updated: Oct 30

On 4 June 2020, the Australian Government announced the HomeBuilder grant to provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home, substantially renovate an existing home or buy an off-the-plan home/new home.


Who is eligible?

Owner-occupiers who are building or renovating a home and meet the following criteria:

  • You must be an individual – not a company or trust

  • You must be an Australian citizen, aged 18 years or over

  • You must meet one of the following two income caps:

  • Your annual income is less than $125,000 for individual applicants based on your 2018-19 tax return or later

  • Your annual income is less than $200,000 for a couple based on your 2018-19 tax returns or later.

When can you access HomeBuilder?

You must enter a building contract between June 4, 2020 and December 31, 2020 to either:

  • build a new home as a principal place of residence, where the property value does not exceed $750,000

  • renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, provided that the value of your existing property does not exceed $1.5 million

Your contract must be in place by 31 December 2020 and construction must commence within three months of the contract date.


If you're ready to build or renovate we're here to help you make that dream a reality! Contact us today for more information about the HomeBuilder scheme.


MFAA Member 887069

© 2020 Keywest Finance  | Credit representative 479496 is authorised under Australian Credit Licence 389328 | ABN 50 546 977 578

 

Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product.