Last night the Morrison Government announced the full details of the new HomeBuilder Grant in order to encourage more construction jobs with $25,000 cash grants for new homes and renovations.
Who is eligible?
To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:
- You are an individual (not a company or trust)(Investors and owner builders will also be banned for claiming the grant);
- 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 (update: it’s now six months).
Can you receive more than just the $25k grant?
With the current schemes and grants already in place, you could access up to $45,000 in WA.
- State First Homeowner’s Grant: $10,000
- Commonwealth First Home Loan Deposit Scheme: Up to $10,000
- With HomeBuilder: Up to $45,000
What house and land packages can I buy?
So long as your total package price is under $750,000, the choice is yours! You can build in masterplanned estates or infill suburbs.
But as more home buyers are looking to build, vacant blocks and titled land will get snapped up quickly. So make sure you get in touch with us now so we can look for your perfect block.
Here are a few that fit within budget:
Wanna get moving?
If you are interested in learning more about this limited offer, please register your interest by giving us a call or filling our the form below. One of our friendly new home specialists will get back to you as soon as possible.