01 Jun Home Builder Scheme
Recently the Federal Government announced the Home Builder Scheme which will be a $25,000.00 cash grant for Contracts entered into between 4 June and December 31 and there are certain criterias that must be met to be eligible, it includes the following below:
- the work must start within 3 months of the Contract date, the means test for last financial years earnings for singles is up to $125,000.00 and couples up to $200,000 combined income,
- the work must be valued between $150,000 and $750,000, the existing home value cannot exceed $1.5 million, the grant must be used for a principal place of residence
- and lastly, the additions must improve the accessibility, safety, and liveability of the residence. In respect of new builds, the value must be up to $750,000 including the land.
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We are here to help. Please contact our office should you require any assistance. See also: OWNit Conveyancing frequently asked questions.
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