Great news about the extension to the Government’s HomeBuilder program.
The HomeBuilder program aims to boost new home builds and renovations. The incentive offers eligible owner-occupiers, including first home owners, with a grant to assist with the construction of a new home or renovate an existing home.
There has been a recent update announced, which includes:
1. A $15,000 grant for building contracts (new builds and substantial renovations) signed between 1 January 2021 and 31 March 2021, inclusive.
2. Application submission deadline extended to 14 April 2021.
3. An extension to the construction commencement time frame from three months to six months for all Home Builder applicants.
4. An increase to the property price cap for new build contracts in New South Wales and Victoria to $950,000 and $850,000, respectively, where the contract is signed between 1 January 2021 and 31 March 2021, inclusive.
For full details go to https://treasury.gov.au/coronavirus/homebuilder or get in touch here.