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$25k HomeBuilder Grant Information

 In News

You may have heard quite a bit about the new HomeBuilder Grants recently.  These grants are intended to stimulate the Construction Industry on the back of the Covid-19 pandemic.

In a nutshell, here’s what the HomeBuilder Grant means to you if you’re thinking of building a new home or renovating your home.

New custom designed home built on two levels to suit a sloping block of land.

New Home Construction

  • $25,000 grants are available to people building their new, owner-occupied residences
  • The value of the build (or house and land package) cannot exceed $750,000 to be eligible
  • You don’t have to be a first home buyer to access the grant.
  • A first home buyer may be eligible for the $15,000 First Home Owners Grant, making a total of $40,000 available
  • You’ll need to meet an income criteria caps – under $125,000 for an individual or under $200,000 for a couple.
  • The contract for building needs to be between 4th June 2020 – 31st December 2020.
  • Construction must commence within 3 months of the contract date.
Master bedroom and deck extension of Queenlander home

Renovations

  • $25,000 grants are available to people substantially renovating their principal place of residence.
  • The value of the existing property must not be more than $1.5 million
  • The renovation contract must be within the price range of $150,000-$750,000
  • Construction of tennis courts, pools or sheds are ineligible.
  • You’ll need to meet an income criteria caps – under $125,000 for an individual or under $200,000 for a couple.
  • The contract for building needs to be between 4th June 2020 – 31st December 2020.
  • Construction must commence within 3 months of the contract date.

More detailed information is available from https://treasury.gov.au/coronavirus/homebuilder.

Contact us directly to discuss how we can help you access the grant for your new building project on 0417 479 747 or info@maxa.com.au.

Book a consultation to find out more

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