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.