UP TO $40,000 IN GRANT
HOME BUILDERS GRANT
The Federal Government has recently announced the HomeBuilder Scheme which will give eligible Australians up to $25,000 to build their new home, buy the new or off-the-plan home or substantially renovate an existing home. The contract has to be signed between 4 June 2020 and 31 December 2020, with construction commencing within three months of the contract date.
To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:
- 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.
Are you eligible? Click here to find out more.
Additionally, the HomeBuilder Scheme could complement the existing $15,000 First Home Owner Grant program.
FIRST HOME BUYERS GRANT
The Queensland First Home Owners’ Grant is a state government initiative to help first homeowners to get their new first home. If your contract is dated 1 July 2018 or later, you can get the Queensland grant of $15,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000). The grant is paid per new home; not to each of the applicants for the same home.
To be eligible for the grant:
- You must be at least 18 years of age
- You must be an Australian citizen or permanent resident (or applying with someone who is)
- You or your spouse must not have previously owned property in Australia that you lived in
- You must be buying or building a brand new home
- The value of the home including the land is less than $ 750,000.
- You must move into the new home as your principal place of residence within 1 year of the completed transaction and live there continuously for 6 months
Click here to find out more.