Good news for property owners, the Federal Government has announced an extension of the HomeBuilder grant up to 31 March 2020.
The HomBuilder scheme was initially devised as a COVID-19 response, providing $25,000 grants to eligible people building a new home or renovating an existing one. The grant was expected to expire by the end of this year, but Prime Minister Scott Morrison announced the stimulus package would be given an extension along with a lower rate of $15,000.
This means homeowners can apply for either a $25,000 or $15,000 grant. Furthermore, there will be an additional $15,000 grant for building contracts signed between 1 January and 31 March 2021.
The deadline for applications has been extended as well. Interested homeowners can submit applications up until 14 April 2021. This applies to all eligible contracts signed on or after 4 June 2020.
The construction commencement timeframe also now has a three to six months extension for all HomeBuilder applicants. This will be backdated as well to apply to all contracts entered on or after 4 June 2020.
For eligibility criteria and application requirements, read about it here: https://www.sebuildingsolutions.com.au/homebuilder-grant-online-application-available-in-august/
Full details are also available on the Queensland Government website: https://www.qld.gov.au/housing/buying-owning-home/financial-help-concessions/homebuilder
If you’re looking to build a new home or considering substantial renovations to your current property, now is the chance. SE Building Solutions is ready to assist. Don’t hesitate to get in touch for your new home build or renovation.