Last week, the government announced a new HomeBuilder grant to inject more life into the residential construction market across Australia.
The HomeBuilder grant is a $25,000 time-limited program to home owner-occupiers who are either building a home or substantially renovating one.
This grant applies if you are buying a new home worth no more than $750,000, or renovating your current home for between $150,000 and $750,000.
The HomeBuilder grant will be available for building contracts signed between June 4 and December 31, 2020, and where construction or renovation starts within three months of the contract date.
This scheme has a number of specific caveats. The key one is that the construction price of the new home must be between $150,000 and $750,000.
There’s also the time limit which basically restricts eligibility to within the next nine months so you will need to move quickly.
To find out more about the HomeBuilder grant, learn more about the eligibility criteria or understand if this scheme could suit your financial circumstances, get in touch with us today.
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