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16 Jun 2020

HomeBuilder Grant

How far will the $25,000 HomeBuilder Grant go for your new home?


Scott Morrison. Image from abc.net.au

Have you been dreaming of building a new home?

The Australian Federal Governments recent announcement of the $25,000 HomeBuilder Grant to help stimulate economic growth post COVID-19.  The grant has been designed to stimulate activity within and secure for the Construction industry across Australia.

Coupled with First Home Owners grant, this could mean up to $40,000 extra towards your new home*!

There are eligibility criteria that need to be met in order for recipients to access the grant.  Your finance lender or mortgage broker will be able to provide you with more information.

The basic criteria for the HomeBuilder Grant:

  • Must be a natural person (not a company or trust)
  • Must be an Australian citizen, aged 18 years or over
  • You must meet one of two income caps:
    Singles: Income for 2018-2019 financial year under $125,000
    Couples: Income for 2018-2019 financial year under $200,000
  • You enter into a building contract dated between 4th June 2020 and 31st December 2020
  • Construction must commence within 3 months of your building contract date
  • Your new home will be a principal place of residence, where the property value does not exceed $750,000

Download a copy of the Treasury’s HomeBuilder Fact Sheet here> Fact_sheet_HomeBuilder.

Download a copy of the Treasury’s HomeBuilder Frequently Asked Questions (FAQ) Here> HomeBuilder_FAQs

BREAKING NEWS:   Today, 16th June 2020 – the QLD State Government announced an extra $5,000 towards new home builds in regional areas!  More details are yet to be received from the State Government, but again, this is great news for the Construction Industry and for our region.

Our tips to help you with the HomeBuilder grant:

  • Finance Pre-Approval
    Make an appointment with your preferred lender or mortgage broker. Have your finance pre-approval in writing.  Some land developers are requiring a copy of the finance pre-approval before being able to place a block of land on hold.
  • Land
    Know where you want to build; choose your ideal block of land and perhaps consider a back up.  With your finance pre-approval in place, you can place a hold on your favourite block of land.
  • Building Design Consultation
    Make an appointment with a friendly member of the Jazz Homes team.  We will thoroughly review your land particulars and discuss your budget, what you want in your new home and begin the design and quoting process.To make an appointment – contact us on 1300 805 255 or email us at Jazz Homes today!

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