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HomeBuilder program: $25k grants for renovations, new builds

HomeBuilder - Background Document 

The Morrison Government's HomeBuilder will provide eligible owner-occupiers (not just first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. 

Summary 

 HomeBuilder is a time-limited and demand-driven grant program to help the residential construction market to get through the COVID-19 pandemic. 

 HomeBuilder will provide eligible owner-occupiers (not just first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home where the contract is entered into between 4 June 2020 and 31 December 2020. 

 Construction of a new home or substantial renovation must be contracted to commence within three months of the contract date. 

 Consistent with the Morrison Government's principles, the Scheme will be implemented through existing systems being the States' respective Revenue Offices. 

 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.


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Thursday, 06 August 2020