08/06/2020
Looking at building a new home or renovating your existing house, well your in luck.
Last week the Australian Government announced the HomeBuilder grant program. The program is to boost the housing and construction industry and 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.
Things you need to know:
• you are a natural person, not a company or trust;
• you are over the age of 18;
• you are an Australian citizen;
• you meet the two (2) income caps;
• building contract between 4 June 2020 and 31 December 2020;
• build a new home where the property value does not exceed $750,000;
• substantially renovate your existing home 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;
• both new builds and renovations are to be for a principle place of residence;
• construction must commence within three (3) months of the contract date;
• renovation works must be to improve the accessibility, safety and liveability of the dwelling;
• renovations cannot be for additions to the property such as swimming pools tennis courts, outdoor spas and saunas, sheds or garages (unconnected to the property); and
• owner-builders are not eligible for the HomeBuilder grant.
There is a lot of information to digest and knowing whether you need a development approval from Council to build your new home or undertake renovations can make it all that more confusing – so let us help. Call Nicole Birch on 0488 377 115, and she can provide you with the advice and guidance you need to get underway.
We can also get you in contact with reputable builders, designers, architects and finance brokers.
Give me a call today.
Happy Building 😊
For mire information regarding the grant program, please visit the Treasury’s website https://treasury.gov.au/coronavirus/homebuilder
