HomeBuilder will provide eligible owner-occupiers (including First Home Buyers) with a grant of $25,000 to build a new home where the contract is signed between 4th June 2020 and 31st December 2020. The grant has been extended to include a $15,000 grant for building contracts (new construction and extensive renovations) signed between 1st January 2021 and 31st  March 2021.HomeBuilder will provide eligible owner-occupiers (including First Home Buyers) with a grant of $25,000 to build a new home where the contract is signed between 4th June 2020 and 31st December 2020. The grant has been extended to include a $15,000 grant for building contracts (new construction and extensive renovations) signed between 1st January 2021 and 31st  March 2021. 

The Federal Government has also extended the deadline for eligible applications to be submitted (including those applying for the $25,000 grant and the new $15,000 grant). Applications can now be submitted up until 14th April 2021 (inclusive). This will apply to all eligible contracts signed on or after 4th June 2020. 

An extension to the construction commencement timeframe has been included too, from three months to six months for all HomeBuilder applicants. Applicable to eligible contracts signed on (or after) 1st January 2021 - backdated and applied to all contracts entered into (or after) 4th June 2020. For new home construction in NSW there has also been an increase to the property price cap for contracts up to $950,000, where the contract is signed between 1st January 2021 and 31st  March 2021, inclusive. 

HomeBuilder will complement existing State and Territory First Home Owner Grant programs, stamp duty concessions, and other grant schemes, as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme. 

ELIGIBILITY

To access HomeBuilder, owner-occupiers 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;
• You enter into a building contract between 4 June 2020 and 31 March 2021 to build a new home as a principal place of residence, where the property value does not exceed $950,000;
• Construction must commence within six months of the contract date. 

Contract sign before 31st December to take advantage of the HomeBuilder Grant with a 6-month extension to site start available.

To find out more visit the NSW Treasury website: https://treasury.gov.au/coronavirus/homebuilder