If you’ve been putting off that renovation or new build, there’s now more time to do it using the Homebuilder grant with a one-off tax-free grant to eligible owner-occupiers.
HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home where the contract is signed between 4 June 2020 and 31 December 2020.
This grant has now been extended to include a $15,000 grant for building contracts (new builds and substantial renovations) signed between 1 January 2021 and 31 March 2021, inclusive.
It’s a win for those planning on building their dream home or carrying out major construction work on their existing house. Better still, this scheme is open to all buyers, not just first home buyers.
The Government has also extended the deadline for all applications to be submitted, including those applying for the $25,000 grant and the new $15,000 grant. Applications can now be submitted up until 14 April 2021 (inclusive). This will apply to all eligible contracts signed on or after 4 June 2020.
The grant is a great helping hand, but it’s not a free for all. There are price and income caps on the HomeBuilder grant and eligibility criteria, which is summarised below.
HomeBuilder Program and Eligibility Criteria
Whether you’re looking for your first home, wanting to upsize, rebuild, or downsize in retirement, Clarendon Homes has a range of home solutions that meet the HomeBuilder grant criteria.
Our new Essential Collection of homes are our most affordable yet! With more than 30 homes designs to choose from and prices starting from $232,150, you can build the perfect life and create a space that works for you and your family.
Interested in the HomeBuilders grant? Here’s a quick run-down on what to do next;
· First, check your eligibility.
· Check the value of your new home or renovation.
· Check your build timings- the one-off HomeBuilder grant is only available for a limited time.
To take advantage of this time-limited grant, Clarendon Homes has home and land packages ready now in communities across NSW and Queensland.
How do you apply for the HomeBuilder grant?
Applications for the grant will be handled by the State or Territory revenue office in which you live (or plan to live in).
You’ll need to provide proof of your identity, a copy of the contract with your licensed builder, your tax returns and other property documents such as council approvals and building contracts.
What about other government grants?
The good news for first home buyers is that you’re still eligible for other grants and schemes.
The HomeBuilder grant can be used alongside existing State and Territory first home owner grant programs, stamp duty concessions, and other grant schemes including the Federal Government’s first home loan deposit scheme and first home super saver scheme.
Want to learn more?
With such a new grant scheme, you’re sure to have many questions. Feel free to speak with one of our Clarendon Homes representatives who will help guide you through the process.
You can also find the latest up-to-date information on the HomeBuilder grant and application process on the Australian Government’s Treasury website.
Remember, the one-off grant is time limited. If you’re eligible, take a moment to explore our house, and home and land packages. You run the risk of missing out if you don’t apply soon and get your building contracts signed in time.