You might have heard about the HomeBuilder grant program in the media a few months ago in the middle of the Coronavirus pandemic and are wondering if you are eligible. If you’re considering buying a new home or renovating your existing place this grant could be for you. We’ve put together some core points to get you started.
The HomeBulider program is a federal, time-limited, tax-free $25,000 grant towards building a new home or substantially renovating your existing home which is designed to support the home construction market through the Coronavirus crisis.
Owner-occupiers, including first home buyers, can access the grant. Applicants must meet these criteria:
Your building contract needs to be signed between 4 June 2020 and 31 December 2020. The grant also covers sales contracts for new builds where building commences after 4 June 2020. The building work must have commenced within 3 months of signing the contract.
If this is your first home, the HomeBuilders grant can be received in conjunction with the Queensland First Home Owners Grant of $15,000 or NSW First Home Buyer Grant of $10,000, which can give you a real boost towards building or buying a new home.
The state governments are managing applications. Depending on which state you live in you can apply for the HomeBuilder Grant via:
You need to apply for the grant by 31 December 2020.
For more information on the HomeBuilder grant program visit - treasury.gov.au
Interested in building your home or renovating your existing house? Speak to the team at Symcorp Builders, we're licenced builders servicing Brisbane southside, the Gold Coast, the Tweed region, and northern New South Wales.