05 June 2020
$25k HomeBuilder offer
What You Need To Know.
What is the HomeBuilder Grant?
- $25,000 grant to build a new home or start a major renovation
- Available to eligible first home buyers and owner-occupiers
- Must be entering into building contract between 4 June 2020 and 31 December 2020
- Construction must be with a licensed builder, and start within 3-months of the contract date
- Available to anybody who successfully applies
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;
- 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.
What’s considered a ‘renovation’?
If you are thinking about a renovation, to receive HomeBuilder the works must improve the accessibility, safety and liveability of the dwelling.
Additions to the property such as swimming pools, tennis courts, outdoor spas and saunas, sheds or garages aren’t allowed (unconnected to the property).
What does a licensed builder mean?
Renovations or building work must be undertaken by a registered or licenced building service 'contractor' (depending on the state or territory you live in) and named as a builder on the building licence or permit.
How can Penfold Property Group help?
We are a land developer but our Sales Team can help you right through the process of applying for these grants, finding a builder and helping with advice on managing time frames. Pop into our Sales Centre at 63 Crossacres St, Doolandella or give David Thomas a call on 0417 082 398.