18 Jun HomeBuilder Stimulus Package Explained
Details emerged last night of the governments Homebuilder stimulus package.
In a nut shell:
$25,000 grants for new homes or to renovate an existing property
2 income caps – Individual $125k, couples $200k
Enter into a building contract between June 4 to December 31
Work must commence within 3 months of the contract date
Renovations must be worth between $150k & $750k with the dwelling valued under $1.5m
Renovations can be a combination of works – eg kitchen & bathroom
Renovations must improve the accessibility, safety & liveability of the home
New homes up to $750k including land
Building works must be undertaken by a licenced building contractor
No companies or trusts. Applicants must be an Australian citizen
Owner builders and investment properties excluded
No swimming pools, tennis courts, outdoor spas, sheds or garages
Administered by state governments
Applications processed once state & territory governments sign up to the partnership. Applications to the Homebuilder program will be back dated to June 4
The above is what I have seen to date. Please make your own enquiries direct with your state government as to your eligibility.
To avoid the expected bottleneck this stimulus package will create contact us to secure a Discovery Meeting to get your project underway.