Government Assistance for Major Renos & New Builds now available!

WOW!  After ISO all that Covid has thrown our way, we are excited that the Government have released their new wave of grants tailored to help those who are wanting to do a Major Renovation on their home or build a New Home and ultimately keep the building industry afloat.  I thought I would put together what we know about the grant to help you sift through the eligibility criteria and ascertain if you should apply for the $25k!

 

$25,000 HomeBuilder Grant  (MAJOR RENOVATIONS)

 

*  Applicable to Owner Occupiers

*  Means tested -  Singles earning up to $125,000 a year,  Couples earning up to $200,000 a year

*  Renovation must be contracted at between $150,000 - $750,000

*  House being altered must be valued at less than $1.5 million prior to the Renovation

*  Not applicable to Investment Properties or Owner Builders

*  Does not apply to Granny Flats, Swimming Pools, Sheds, Tennis Courts etc

*  Contracts must be signed prior to 31st December 2020

*  Construction must commence within 3 months of the Contract Date

 

 

$25,000 HomeBuilder Grant  (NEW BUILDS)

 

*  Applicable to Owner Occupiers

*  Means tested -  Singles earning up to $125,000 a year,  Couples earning up to $200,000 a year

*  Home Build including Land must not exceed $750,000

*  Not applicable to Investment Properties or Owner Builders

*  First Home Buyers also get the $15,000 FHOG, so an incredible $40,000 in total

*  Does not include separate dwellings such as Granny Flats, Sheds, Swimming Pools, Tennis Courts etc

*  Contracts must be signed prior to 31st December 2020

*  Construction must commence within 3 months of the Contract Date

 

So get cracking - if you tick all the boxes ensure you don't miss out on this fantastic opportunity to make your house a home!

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