The Australian government is handing out $25,000 grants for new home builds and renovation projects. Are you eligible?
The Federal Government has announced an almost $700 million home building grant scheme designed to support the construction industry through challenging economic times.
Who can access the $25,000 HomeBuilder grant
The scheme provides $25,000 grants towards the construction cost of new homes and major renovations for eligible homeowners.
The grants are available on contracts over $150,000 for renovations and under $750,000 for new house construction entered into between 4 June and 31 December 2020, provided the construction begins within three months.
Not every Australian can access the grants, however, with the means tested scheme limited to individuals with incomes up to $125,000, and couples with combined earnings of up to $200,000.
All dwelling types are eligible, so long as work carried out is on the main property and not on other structures, such as sheds or pools.
How to take advantage of the HomeBuilder opportunity
Provided you can meet the means testing requirements of the scheme, the HomeBuilder grants are a great opportunity to either make savings on your build or maximise the project budget.
You might also see value in bringing a project planned for next calendar year forward by a few months to take advantage of the incentive.
The $25,000 is a welcome addition to the significant savings that you will make through working with a residential building broker, such as Adelaide Build Assist.
How to put even more cash in your pocket (even if you don’t qualify for HomeBuilder)
If you want to boost your budget even more, or you don’t meet the HomeBuilder requirements, you still have options.
Adelaide Build Assist often saves clients tens of thousands of dollars by helping you cost your project the right way.
And if you’re working on your dream home and the plans come in way over budget, a smart home saving strategy can still keep your dream alive. Here’s what we did for one of our clients.
Let’s talk about your project
Whether you qualify for HomeBuilder or not, now is the time to act on your project.
With our cost-effective build strategies, competitive tender process with independent, trusted builders and smart management, you have a rare opportunity to bring your home or renovation to life in the best and most efficient way possible.
Contact us for a no obligation discussion about your project - call Anthony on 0428 033 028 or send an email.