Save $15,000 until March 2021: What the HomeBuilder Grant extension means for off-the-plan property purchases
The Federal Government has just announced that the HomeBuilder Grant, which was set to end on December 31st, will be extended at a reduced rate. Home buyers who are eligible for the grant could be entitled to receive $15,000 for the purchase of a HomeBuilder Grant approved off-the-plan property.
Since the grant was introduced, around 24,000 applications have been made to claim the $25,000 grant, with 19,180 of those applications being for new builds, with just 4,697 applications having been submitted for home renovations.
Grant rules and restrictions vary state-to-state, so here's an overview of what to expect:
VICTORIA HOMEBUILDER GRANT GUIDE
HomeBuild Grant Extended and increase price cap to $850,000 in VIC
Reduced from $25,000 to $15,000 for building contracts signed between Jan 2021 and March 2021.
Home buyers have until December 31st 2020 to take advantage of the $25,000 HomeBuilder Grant.
Click here to search new VIC Residences under $850,000
NEW SOUTH WALES HOMEBUILDER GRANT GUIDE
HomeBuild Grant Extended and increase price cap to $950,000 in NSW
Reduced from $25,000 to $15,000 for building contracts signed between Jan 2021 and March 2021.
Home buyers have until December 31st 2020 to take advantage of the $25,000 HomeBuilder Grant.
Click here to search new NSW Residences under $950,000
QUEENSLAND HOMEBUILDER GRANT GUIDE
HomeBuild Grant Extended for New Residences under $750,000 in QLD
Reduced from $25,000 to $15,000 for building contracts signed between Jan 2021 and March 2021.
Home buyers have until December 31st 2020 to take advantage of the $25,000 HomeBuilder Grant.
Click here to search new QLD Residences under $750,000
SOUTH AUSTRALIA HOMEBUILDER GRANT GUIDE
HomeBuild Grant Extended for New Residences under $750,000 in SA
Reduced from $25,000 to $15,000 for building contracts signed between Jan 2021 and March 2021.
Home buyers have until December 31st 2020 to take advantage of the $25,000 HomeBuilder Grant.
Click here to search new SA Residences under $750,000
WESTERN AUSTRALIA HOMEBUILDER GRANT GUIDE
HomeBuild Grant Extended for New Residences under $750,000 in WA
Reduced from $25,000 to $15,000 for building contracts signed between Jan 2021 and March 2021.
Home buyers have until December 31st 2020 to take advantage of the $25,000 HomeBuilder Grant.
Click here to search new WA Residences under $750,000
Further reading:
Buy now and save: 20 Urban listings eligible for the $25,000 HomeBuilder Grant
