The HomeBuilder Grant provides $25,000 to eligible owner occupiers and first home builders towards building a new home or renovating an exisiting home. The Grant is uncapped, demand-driven and non-taxable.
The Homebuilder Grant is being offered in addition to existing programs like:
- State & Territory First Homeowner's Grants
- Stamp Duty Concessions
- First Home Loan Deposit Scheme
- First Home Super Saver Scheme
- Other state & federal grants and schemes.
- You must be a natural person and not a company or trust.
- You must be at least 18 years or older.
- You must be an Australian citizen.
- Individuals must have an income of $125,000 or less.
- Couples must have an income of $200,000 or less.
- The contract must be signed between 4th June 2020 and 31st December 2020.
- The contract must be made between you and the builder freely & independently of each other.
- There must be no special relationship between you and the builder. For example, the builder must not be your relative.
- The terms of the contract must be commercially reasonable.
- The contract price must not be inflated compared to the fair market price.
- The works must be done by a registered/licensed building contractor and named as the builder on the the building license or permit.
- Construction must start within 3 months of the contract date.
- Investment properties are not included in the program.
- The home being built or renovated must be your principal place of residence.
- Owner-builders are not included in the program.
- If you are building a new home, the property value must be up to a maximum of $750,000.
- If you are renovating your home, the renovation contract must be between $150,000 & $750,000, and the property value must not exceed $1.5 million before the renovation.
- The renovation work must be to make your dwelling more accessible, liveable and safe.
- The renovation cannot be for adding swimming pools, tennis courts, outdoor spas and saunas, sheds and garages not connected to the property.
You may be able to use the HomeBuilder Grant to renovate your home, attic conversion, home extension and first floor additions.
Please visit this official government link to register for updates and for the latest information.
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