Buying a house, let alone building a new home or adding value to an existing one, can be a difficult decision to make – especially given the current economic climate. Thankfully, the Australian government is hoping to help homebuyers by offering a $25,000 HomeBuilder grant.
Planned as a new incentive to reinvigorate the construction market after the coronavirus crisis, the Homebuilder grant is available to people who plan on either building or renovating a home. For a limited time of six months (4 June 2020 – 31 December 2020), eligible recipients will receive $25,000 to build a new home or substantially renovate an existing one.
To be eligible to receive the HomeBuilder grant, potential recipients must meet the following criteria:
If you’ve been hesitant to build a new home or renovate an existing one and would like someone to chat to about it, get in contact with a member of our team at Livit Construction. We are more than happy to assist you in preparing the right documents needed for your HomeBuilder grant.
At this point, it is unknown when the federal government will sign an agreement with the larger states to deliver the $25,000 subsidy, however they will backdate acceptance of these applications to 4 June 2020.
More information will be available when the National Partnership Agreement is finalised.
It is unknown at this stage if the HomeBuilder grant can be used as a house deposit.
For a new home: The HomeBuilders grant will be paid at the base stage of construction.
Renovations: The HomeBuilders grant will be paid after $150,000 has been spent.
No, you don’t have to be a first home buyer to qualify for the HomeBuilder grant but if you are, you may be eligible for the First Home Buyers grant as well.
If you plan on building a new home and meet the criteria, you should be eligible for the HomeBuilder grant. You may also be eligible for the First Home Buyers grant, which can be used in conjunction with HomeBuilder. Additionally, if you have applied for the First Home Buyers grant in the past, you can still be eligible for the HomeBuilder scheme.
The HomeBuilders grant is ideal for those looking to perform some extensive renovations that improve the accessibility, safety, or liveability of the property. These include but aren’t limited to: kitchen and bathroom renovations, and patios. The grant cannot be used for structures that are not connected to the property, or for entertainment builds such as swimming pools and tennis courts.
Our team at Livit Constructions are more than happy to assist you with any building documents required for the HomeBuilders grant application. This includes a copy of the builder’s registration or licence, council approvals, building contracts or occupation certificates.
At Livit Constructions, our experienced team of South Brisbane builders know the importance of creating a dream home that will last you for years to come. We understand that building or updating a home can be a daunting process and that applying for grants can be confusing given the number of documents and proof required.
If you’re interested in applying for a HomeBuilders grant and would like a helping hand, a member of our team will be more than happy to get you started on your journey. Call us today on 0434 244 799.