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HomeBuilder Grant Extended: Are you eligible for $15k?

HomeBuilder Grant is now available until 31 March 2021!

On 29 November 2020, the Federal Government announced an extension to the national HomeBuilder Grant. This is great news for those who are looking to build a new home, you now have until March 31 to sign your contract.

  • For contracts signed between 1 January – 31 March 2021, the grant amount is $15,000 and the price cap will be increased to $850,000.

You may be able to access up to $35,000 in Government Grants! The $15,000 HomeBuilder Grant,  plus First Home Owners may be eligible for the $10,000 Metro Grant, or $20,000 Regional Grant.  

Eligibility is at the discretion of State and/or Federal Government, further Federal information here and State here. Please refer to the relevant State & Federal Government media statements here. $35,000 in Government Grants consists of the $15,000 HomeBuilder and $20,000 Regional First Owner Grants combined.

ARE YOU ELIGIBLE FOR THE $15K GRANT?

To access HomeBuilder, owner-occupiers must:

  • Be a single person who earns less than $125,000 or a couple that earns less than $200,000 per year, based on recent tax returns
  • Open to Australian Citizens who are 18 years of age or older
  • Sign your contract between 1 January 2021 and 31 March 2021.
  • Build your new home as a principal place of residence, where the property value (house & land) does not exceed $850,000
  • If undertaking a knockdown rebuild project, the renovation contract must not exceed $850,000 with the house and land value not exceeding $1.5 million

For more information on eligibility requirements, click here.

We can not stress enough how important it is that you take your time to do your due diligence when preparing, signing and entering a building contract. It’s a legally binding document and rushing to sign it could leave you with variations or unexpected costs that exceed the value of the grant.  For your peace of mind, Manse Group can conduct thorough a review of your building contract to highlight discrepancies and highlight risks before you commit.

If you’d like an independent and expert set of eyes to review your building contract documentation to ensure you feel confident in what you are signing, contact Manse Group today.

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