$25,000 up for Grabs — Home Builder Scheme
The Government has announced the new Home Builder program to support jobs and boost demand in the residential construction sector at a time when the construction industry is facing extreme uncertainty.
Home Builder 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.
The grants are open to singles earning less than $125,00 a year, or $200,000 per couple. They can be used for new homes valued up to $750,000 including land, or renovations worth between $150,000 and $750,000 for renovating an existing home with a current value of no more than $1.5 million.
The money can’t be used on investment properties or to build things outside the house such as pools or sheds and the works are to be done by a licensed builder.
The program is expected to provide around 27,000 grants at a total cost of approximately $680 million.
The grants are available from 4th June and will run until the end of 2020. Construction must be contracted to commence within three months of the contract date.
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Stuart Fitzpatrick and Excel Financial Advisors Pty Ltd are authorised representatives of Interprac Financial Planning Pty Ltd AFSL 246638 registered office at Level 8, 525 Finders Street, Melbourne VIC 3000. This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial advice prior to acting on this information. Investment Performance: Past performance is not a reliable guide to future returns as future returns may differ from and be more or less volatile than past returns.
