HOMEBUILDER

HomeBuilder is a time-limited grant program to help the residential construction market to bounce back from the Coronavirus crisis. HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home where the contract is signed between 4 June 2020 and 31 December 2020. Construction must commence within three 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.

ELIGIBILITY: 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 4 June 2020 and 31 December 2020 to build a new home as a principal place of residence, where the property value does not exceed $750,000;
  • construction must commence within three months of the contract date.

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FIRST HOME BUYER ASSISTANCE SCHEME

If you’re a first home buyer, you may be entitled to a concessional rate of transfer duty or even an exemption from paying it altogether under the First Home Buyers Assistance scheme (FHBAS).

ELIGIBILITY: the grant is available for:

  • buying an existing home
  • buying a new home and
  • vacant land on which you intend to build a home.

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FIRST HOME OWNER GRANT (NEW HOMES) SCHEME

If you’re a first home buyer and you’re buying or building a new home, you may qualify for a $10,000 grant under the First Home Owner Grant (New Homes) scheme.

ELIGIBILITY: the grant is available for:

  • contract to buy a new home
  • building contract by the owner of the land
  • owner of the land building their own home.

READ MORE: FIRST HOME OWNER GRANT (NEW HOMES) SCHEME