HomeBuilder – Do you qualify?

HomeBuilder - Do you qualify?

Last week the Government announced its HomeBuilder program that would see renovators and first home buyers receive $25,000 towards their renovations or building their first home.

So the big question is, do you qualify? The Treasury has outlined eligibility criteria as follows:

  • You are a natural person (not a company or trust);
  • You are aged 18 years or older;
  • You are an Australian citizen;
  • You are an owner-occupier
  • 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 either:
    • build a new home as a principal place of residence, where the property value does not exceed $750,000; 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;
  • Construction must commence within three months of the
    contract date.

If you would like more information on the HomeBuilder program, we recommend you take a look at the following resources:

HomeBuilder– Frequently Asked Questions

HomeBuilder– Fact Sheet

If you qualify for the HomeBuilder grant, why not give us a call to start discussing your renovation plans? Let’s give that beloved old home the makeover it deserves!   

Contact us to schedule a free quote.