Home Builder Extension

For the those who have missed the first grant of $25,000 there is still a window of opportunity to take advantage of the federal home builder grant of $15,000.

Successful applicants must fit below the following income caps:

• $125,000 for a single
• $200,000 for a couples combined income

It is a time sensitive deadline that requires a builder contract to be signed by the 31st of March. Commencement of the construction must be within 6 months of the signed contract.

Additional flexibility has been introduced which includes the following:

• The maximum value of the build has increased to $950,000 for NSW, $850,000 for VIC and $750,000 in all other states
• Substantial renovation is capped at the value of $150,000

If there is sufficient equity in your property, refinancing is an option whilst still utilising this grant.

For further details please click here.