For some Australians building or renovating a new home, the government has lent a hand with the HomeBuilder grant. With this initiative, buyers have been able to access $25,000 to put towards a new home or renovation. Here’s everything you need to know about the Home Builder’s grant.

What is the HomeBuilder Grant?

HomeBuilder is a government grant of up to $25,000. For a limited time, applicants including first-home buyers were able to apply for help to build or renovate a home.

Who Was Able to Access HomeBuilder?

To access the grant, successful applicants needed to meet the following requirements:

  • Must be a natural person (meaning you are not a company or trust)
  • Must be at least eighteen years of age
  • Must be an Australian citizen
  • 2018-19 taxable income must be below $125,000 (individual applicants) or $200,000 combined (couples)
  • For the $25,000 grant, the contract must have been signed between June 4—December 31, 2020 (inclusive). For the $15,000 grant, the contract must have been signed between January 1 and March 31, 2021 (inclusive).
  • Construction must commence within eighteen months of the contract’s date (on or after June 4, 2020).

For those building a new home as a main residence, the home’s value must have been $750,000 or less.

For major renovations on an existing home, the contract must be between $150,00-$750,000. Pre-renovation property must be under $1.5 million in value.

Did HomeBuilder Apply to House & Land Packages?

Yes, it did. For contracts signed on house and land packages within the specified dates, buyers could have been eligible for HomeBuilder. While an affordable house and land package no longer comes with the potential for a HomeBuilder grant, the government could still give you a number of benefits. You may not have to pay stamp duty, and because AVID’s land is titled, you can start your build right away. AVID Property Group offers an easy home-buying process, with the help of Australia’s best builders.

Was HomeBuilder in Every State?

All States and Territories signed the HomeBuilder National Partnership Agreement, agreeing to help buyers in their state or territory through the program. While HomeBuilder is no longer accepting applications, you can still apply for other grants through your state government body:

The Commonwealth’s First Home Super Saver Scheme

For more information on whether you qualify for these grants and how to apply, visit the relevant state government website for the guidelines.

By building in a masterplanned community, you not only become eligible for certain grants; you get to make the most of your savings and get rid of the most difficult parts of home-buying. In one easy and stress-free process, you become a part of life in a thriving community. Find out how we can create the home of your dreams.

At AVID Property Group, we create communities where people love to belong. To find out more about our developments in New South Wales, Victoria and Queensland and how you can invest in the home of your dreams, contact us today.

By building in a masterplanned community, you not only become eligible for certain grants; you get to make the most of your savings and get rid of the most difficult parts of home-buying. In one easy and stress-free process, you become a part of life in a thriving community. Find out how we can create the home of your dreams.