Home Builder Grant Update

Written By Rachel Quagliani

On 29 November 2020, the Australian Government announced an extension to the HomeBuilder program to 31 March 2021. This means you no longer need to submit your application by 31 December 2020.

Key Dates

4 June 2020 – 31 December 2020

Enter into a contract to build or renovate between these dates to be eligible for the $25,000 grant.

  • New homes must not have a house and land value of more than $750,000

    Renovations must be between $150,000 and $750,000, and the value of the existing house and land must not exceed $1.5M

1 January 2021 – 31 March 2021

Enter into a contract to build or renovate between these dates to be eligible for the $15,000 grant.

  • New homes must not have a house and land value of more than $850,000

  • Renovations must be between $150,000 and $750,000, and the value of the existing house and land must not exceed $1.5M

14 April 2021

All applications, irrespective of when the building or renovation contract is signed, must be submitted by this date.

Eligibility Criteria

  • Must be a natural person and over 18 years of age

  • Must be an Australian citizen at the date of the application

  • Single applicants must have an income below $125,000

  • Couple applicants must have a combined income below $200,000

  • Must live in the property (the grant-applied property) for a continuous period of 6 months immediately after completion of construction or renovation.

Rachel Quagliani https://www.rachelquagliani.com
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First Home Owners Grant Update