Renovating or building?
Treasury have announced the extension of the home builder grant. The new extension offers, you $15,000 towards the purchase of a new property or the construction of an owner occupied property.
This grant is for all contracts entered from the 1st of January 2021 to the 31st of march 2021. The same eligibility criteria exists similar to the previous grant. The detailed criteria for eligibility can be found here.
However, there have been some tweaks. The first one is the property limit for all properties in New South Wales have been extended from $750k up to $950k. For properties in Victoria, it’s been extended from $750k to $850k and for all other states it’s remained at $750,000.
The other tweak that they’ve made is that building commencement will start within six months. Which was previously only three months.
So have a talk to your finance broker to find out if you’re eligible for the home builder grant and how to apply for it.
If you’d like to keep informed about these updates. Subscribe to our email list below and follow us on facebook.
Leave A Comment