There has never been a better time to build…but the clock is ticking!
$15,000 HOMEBUILDER GRANT
The extension to the HomeBuilder grant provides eligible buyers $15,000 towards a new home, where the contract is signed between 1 January 2021 and 31 March 2021, inclusive.
The Federal Government Grant allows applications to be made up until 14 April 2021 (inclusive). This will apply to all eligible contracts signed on or after 4 June 2020. The Government has also extended the timeframe in which construction is to commence from three months to six months for all HomeBuilder applicants. This will apply to all eligible contracts signed on or after 1 January 2021, but will also be backdated and apply to all contracts entered into on or after 4 June 2020.
To qualify for the HomeBuilder grant, you must meet the following eligibility criteria:
you are a natural person (not a company or trust);
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.
To find out more about HomeBuilder, click here >>
More first home buyer information
Most States have other incentives such as the First Home Buyer Grant and Keystart loans to help would-be homeowners that meet the eligibility criteria for the HomeBuilder grant. WA is no exception and in some cases you may even be able to apply for various grants to boost your opportunity to begin building.
First Home Owner Grant
This is a WA State Government incentive program, offering $10,000 to first home builders and buyers. Applicants may be eligible for both the Federal HomeBuilder Grant and WA’s First Home Owner Grant. Click here to check your eligibility>>
Keystart Home Loan
Keystart loans are low deposit loans awarded to eligible borrowers with an intent to purchase homes under $480,000. Your income, spouse income and other factors play into your eligibility. Click here to check your eligibility >>
Stamp Duty Reductions
When considered eligible for a first homeowner grant, this incentive of having a reduction in stamp duty or a full exemption can apply to recipients who fit into the following criteria. Click here to see if you are eligible >>
There has never been a better time to build your new home dream!
