HomeBuilder - EXTENDED FOR A LIMITED TIME IN 202110th June 2020
The HomeBuilder program which is being provided by the Federal Government has been extended for a limited time into 2021.
HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $15,000 to build a new home.
Strict eligibility criteria applies and purchasers will be able to apply for HomeBuilder when the relevant State or Territory Government that you live in, or plan to live in, signs the National Partnership Agreement with the Commonwealth Government.
A building contract must be signed by March 31st 2021 and construction must commence within six months of the contract date.
HomeBuilder will complement existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes, as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme. This makes it even more attractive for first home buyers to enter the market, with a $25,000 total grant on offer for eligible first home purchasers plus stamp duty concessions in metropolitan Melbourne; and a $35,000 total grant on offer for first home buyers plus stamp duty concessions in regional areas of Victoria.
Am I eligible?
To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:
- you are a natural person (not a company or trust);
- you are aged 18 years or older;
- you are an Australian citizen;
- you meet one of the following two income caps:
- $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or $200,000 per annum for a couple based on both 2018-19 tax returns or later;
- you enter into a building contract between 1 January and 31st March 2021
- build a new home as a principal place of residence, where the property value does not exceed $850,000;
- or substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property does not exceed $1.5 million;
Information on when and how you will be able to access HomeBuilder will become available through the Victorian State Revenue office, please visit this link to find out more - https://www.sro.vic.gov.au/hom...
Nostra is currently offering a range of home and land packages and townhouses that will result in eligible purchasers having the ability to apply for the $15,000 HomeBuilder. So if you are yet to purchase land, don’t worry, as we have a number of options on offer that will ensure you have access to these amazing government subsidies that are still available for the first quarter of this year. There has never been a better time to build a new home, so contact us today on 8331 3500 or visit one of our display centres to find out more.