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NEW $25,000 Grant Helping Home Ownership Dreams Come True!

The Federal Government has just released details of its latest stimulus package which will see new home builders (including first home buyers) receive a $25,000 grant to help build their home.

The HomeBuilder grant provides eligible owner-occupiers with a grant of $25,000 to build a new home or substantially renovate an existing home. The program is designed to assist their residential construction market by encouraging the commencement of new home builds and renovations this year.

HomeBuilder is a time-limited grant program to help the residential construction market to bounce back from the Coronavirus crisis.

HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home where the contract is signed between 4 June 2020 and 31 December 2020. Construction must commence within three months of the contract date.

HomeBuilder will complement existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes, as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme.

Are you Eligible?

To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:
you are a natural person (not a company or trust);
– 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.

Process and Timing

HomeBuilder will be implemented via a National Partnership Agreement, signed by the Commonwealth and State and Territory governments. This approach will utilise existing state and territory mechanisms to distribute the HomeBuilder payments.

When the States and Territories begin accepting HomeBuilder applications, they will backdate acceptance of these applications to 4 June 2020.

Information on when and how you will be able to access HomeBuilder will become available through the relevant State or Territory revenue office.

DOWNLOAD HOMEBUILDER FAQ’s

Carver’s Reach has a full range of homesite options that will allow buyers to gain access to
the grant.

Free Info Pack.
Register Your Interest Now!

Sign up here to be amongst the first to carve out a new life.

Carvers Reach









Free Info Pack.
Register Your Interest Now!

Sign up here to be amongst the first to carve out a new life.