Just a quick reminder that you can build your own home and that the $15,000 HomeBuilder Grant from the government is still available.
There is also the $15,000 First Home Owners Grant.
If you’ve ever thought that it might be too hard … keep reading, it’s easier than you think.
The Deadline Is The Deadline
Requests for the HomeBuilder Grant have far surpassed the Federal Government’s expectations.
Conferring to the newest statistics, 75,143 households applied for the $25,000 grant under the HomeBuilder scheme before the original deadline of Thursday the 31st of December 2020, almost twice as much as what Treasury originally forecasted.
In mid-November, the Government was forecasting that the program would only provision the renovation or construction of 42,000 homes at a total cost of $920 million (at this stage it’s nearly $2 billion).
HomeBuilder was introduced at the pinnacle of the coronavirus pandemic to reply to worries that the construction sector would crash.It is estimated that the program is supporting $18 billion worth of residential construction projects.
Under the original program, qualified applicants building a new home or considerably renovating a current one would receive a $25,000 grant.
This amount has since been reduced to $15,000 with a new deadline set for Wednesday the 14th of April 2021 for contracts signed before Wednesday the 31st of March 2021.
Whilst there has been some speculation about another extension, to avoid disappointment it’s important to assume that no such extension will be provided and that the 31st of March 2021 is the final deadline.
“Australians should assume that end date is when it will end.”Housing Minister Michael Sukkar*.
But There’s Still Time And We Can Help Even If You’re Starting From Scratch
ust to recap the HomeBuilder Grant is available to eligible owner-occupiers (including first home buyers) who build a new home, substantially renovate an existing home, or buy an off the plan/new home, where the contract is signed between 4 June 2020 and 31 March 2021 inclusive.
With just over two months left, there is still time… and we can help even if you are starting from scratch.
There are many questions to consider, but it is not as complex as it sounds, when you deal with this every day like I have. For example, some common questions that I get are:
- When must you commence site works?
- Is it different for a new build or off the plan/new home?
- When must applications be submitted?
- How long do I have to keep it or live there, as my principal place of residence?
We can also help you apply for the grant, with the government department, loan applications, and dealing with land agents and builders.
If you are a first home buyer you may be eligible for the first home owner grant of up to $15,000, if you are:
- buying or building a new home (including a house, flat, unit, townhouse or apartment) in South Australia; and
- the home will be your principal place of residence.
If you would like to know more, we are ready to help and act fast to assist with the whole process.
- HomeBuilder Grant Application Deadlines Extended But Amount Reduced
- HomeBuilder Grant Building Commencement Deadlines Extended In SA
ABC News: HomeBuilder Construction Scheme Demand*