Learn More About $25,000 'Home Builder' Stimulus Grants
The Federal Government have recently announced $25,000 'Home Builder' grants as a post- COVID-19 economic stimulus. So there is no better time to start thinking about building your dream home or renovating your existing home.
Am I Eligible?
HomeBuilder is a time-limited grant program to help the residential construction market to bounce back from the Coronavirus crisis.
HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home where the contract is signed between 4 June 2020 and 31 December 2020. Construction must commence within three months of the contract date.
HomeBuilder will complement existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes, as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme
To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:
you are a natural person (not a company or trust)
you are aged 18 years or older
you are an Australian citizen
you meet one of the following two income caps: $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or$200,000 per annum for a couple based on both 2018-19 tax returns or later
you enter into a building contract between 4 June 2020 and 31 December 2020 to either:build a new home as a principal place of residence, where the property value does not exceed $750,000; or substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property does not exceed $1.5 million
construction must commence within three months of the contract date.