An extension to the HomeBuilder grant provides much appreciated breathing room for eligible applicants, whilst creating more opportunities for those seeking to build a new home, buy newly built, or substantially renovate their existing home.
In late November the Morrison Government announced an extension to the HomeBuilder grant with a further 6 months to commence construction works, and a new $15,000 grant for build or renovation contracts signed between the 1st of January 2021 – 31st of March 2021. Revenue SA also marked a key change to the cut-off date for applications signed between the 4th of June 2020 – 31st of December 2020, with applications now able to be lodged up until the 14th of April 2021. This allows eligible applicants additional time to process their grants, and extends the benefit of the grant to many more home builders who may have missed out on the original criteria.
- 4 June 2020 to 31 December 2020 – you may be eligible for a $25,000 HomeBuilder grant if you enter into a contract to build or renovate during this period.
- 1 January 2021 to 31 March 2021 – you may be eligible for a $15,000 HomeBuilder grant if you enter into a contract to build or renovate during this period.
- 14 April 2021 – All applications must be received by RevenueSA. This applies to all eligible contracts signed on or after 4 June 2020.
For further details on the HomeBuilder Grant you can visit Revenue SAs website.
If you have any further questions about financing your build or extension, please contact our experienced Mortgage Broking team on 8300 8300.