The Australian Government has announced a $25,000 HomeBuilder Grant, as part of their economic response to the Covid – 19 (Coronavirus) Panademic. The Aim of the grant is to provide eligible (and we will get to that soon) owner-occupiers (including first home buyers) with a grant of $25000 to build a new home or substantially renovate an exisiting home.
“HomeBuilder is time-limited grant program to help the residential construction market to bounce back from the Coronavirus crisis.”
HomeBuilder grants are available where the contract is signed between 4 June 2020 and 31 December 2020. Construction must commence within three months of the contract date.
To access the grant, you must meet the eligibility criteria and be able to ensure:
- You are not a company or trust;
- Be 18 years or older ;
- You are an Australian citizen;
- You are able to meet one of following income caps:
- $125,000 per annum for an individual applicant based on your 2018-2019 tax return or later; or
- $200,000 per annum for a couple based on both 2018-2019 tax returns or later;
- You enter into a building contract between 4 June 2020 and 31 December 2020 to either:
- build a new home a principal place of residence, where the property value does not exceed $750,000; or
- substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your exisiting property does not exceed $1.5million;
- construction must commence within three months of the contract date.
The Department of Treasury have put together a fact sheet which includes useful Casestuddies is help illustrate the circumstances surrounding eligibility. You can read more here.
Engaging a Designer
Before you rush in and start signing contracts, I thought I’d take the opportunity to explain a little about how engaging a designer might help with a new build and also a home renovation.
With regard to a new build, I can assist with the selection of all finishes, fixtures and materials both internally and externally. I can work collaboratively with your build team to ensure a cohesive space is created that reflects both your personality and your budget. I can also help with space layout and designing any custom joinery you might want to include – i.e. shelving, cabinetry etc.
If you’re more Team Renovation, I can assist in much of the same ways above and also consider ways in which we can maximise your current layout and space to better suit your usage and lifestyle. Floor Planning is essential in the renovation process and for me, it’s imperative that the changes you’re committing yourself to are going to bring you some benefit either with regard to financial investment or through improved lifestyle.
To take a closer look at some of my latest projects, you can visit here.
References: The Department of Treasury, HomeBuilder, (www.treasury.gov.au: 4 June 2020), Australian Government.