Who is Eligible for $25,000 Grants Under the New Home Building Scheme?

Thursday 11 Jun 2020

The federal government will fund grants for home renovations and builds under a $688 million stimulus package.

The HomeBuilder scheme is expected to facilitate between 25,000 and 30,000 builds and renovations.

Under the scheme, eligible singles and couples will receive grants of $25,000 to facilitate new home builds or renovations.

Contracts must be entered into between now and the end of the year, with work to begin within three months of the contract date.

Singles must earn under $125,000 a year, while couples must earn under $200,000 to be eligible for the grant.

Those applying for the scheme must be owner-occupiers. New properties must not be valued at more than $750,000, including the land cost, to be eligible, while renovations on existing properties must be valued at between $150,000 and $750,000 to qualify.  Existing properties cannot be valued at more than $1.5 million prior to renovation.

The above information was extracted from the below sources.  Click on either link for more details...

Click here for article provided by ABC News

Click here for a fact sheet from Treasury

Please contact us to discuss our properties.  Some of these may give you access to the benefits offered under this scheme.