In 2020, the Federal Government has announced it will give eligible Australians $25,000 to build a new home with its new HomeBuilder stimulus scheme. This is a win for first home buyers and those wanting to build their own home, and we’ve got a quick run-down on what the scheme entails and who is eligible!
What is the HomeBuilder Grant?
The Federal Government will give $25,000 grants to owner-occupiers to spend on the construction of new homes when they enter in to a building contract over a timeframe of six months. The scheme is designed to help both first home buyers enter the property market sooner and those looking at constructing a new home to live in, as well as help those affected by the recent bushfires rebuild in their local community. Applications for the scheme closed on April 14, 2021, however, those who started an application before this date are still able to continue their application including uploading supporting documents. On April 17, 2021, the Federal Government announced that the construction commencement requirement has changed from six months to 18 months for all existing applications.
Who is Eligible for the HomeBuilder Grant?
First Home Buyer Resources
We know what an exciting milestone building a new home is, and even though it may seem daunting, at Hotondo Homes we’ve put together a wealth of resources to assist you with all your planning. Our website features information about the First Home Owner Grants in each state so you can see exactly what you’re eligible to receive. We also have a suite of eight calculators to help you understand things like your borrowing power, how much your loan repayments will be, a loan comparison calculator, a stamp duty calculator, plus much more.
Hotondo Homes is ready to get you started on your journey towards home ownership, and our builders will work with you through each stage of your building process starting with finding the perfect design that suits your budget. Our range of Forever Retreat homes is perfect for first home buyers wanting to build their first home and includes new Cypress and Elsie design ranges just released, while our Forever Sanctuary and Forever Oasis ranges feature larger homes for growing families.
With the announcement of the HomeBuilder Grant there’s never been a better time to build your new home. Whether you’re a first home buyer, a family looking to upsize, or you’re downsizing to enjoy your retirement, Hotondo Homes has a range of home designs to suit your lifestyle. Visit our website today for more information and home inspiration today.
Hotondo Homes is not a registered financial advisory and therefore we recommend you speak to your financial advisor or mortgage broker to receive expert advice before entering into a real estate contract of sale.