Great news for those still looking to build with the announcement on 29 November that the HomeBuilder scheme, which provides grants for home builders and renovators has been extended to 31 March 2021. The extension is expected to see a further 15,000 construction projects under the scheme.
Under the extension changes include:
A $15,000 grant for building contracts signed between 1 January 2021 and 31 March 2021.
An extended deadline for all applications to be submitted, including those applying for the $25,000 grant and the new $15,000 grant. Applications can now be submitted up until 14 April 2021. This will apply to all eligible contracts signed on or after 4 June 2020.
An extension to the construction commencement timeframe from three months to six months for all HomeBuilder applicants. This will apply to all eligible contracts signed on or after 1 January 2021 but will also apply to all contracts entered into on or after 4 June 2020.
An increase to the property price cap for new build contracts in New South Wales and Victoria to $950,000 and $850,000, respectively, where the contract is signed between 1 January 2021 and 31 March 2021.
The existing new build property price cap of $750,000 will continue to apply in all other States and Territories.
The existing eligibility criteria remain in place and the $25,000 grant will still be made available for eligible contracts signed on or before 31 December 2020.
With no better time to follow your homeowner dream, and titled land currently available, the Modeina Sales Team are happy to chat with you either via an appointment or by calling 1300 724 723
Titled lots available until sold. Customers will be required to enter into separate land and building contracts with the Developer / Vendor and Builder, respectively. Prospective buyers should make and rely on their own enquiries and seek independent legal and financial advice.