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Real Estate Alert: Homebuilder Grant Extended

WRITTEN BY Benjamin Grady

In late 2020, the Federal Government announced an extension of the Homebuilder Grant.

The announcement included:

  • extending the eligibility period from 1 January 2021 to 31 March 2021;
  • reducing the grant to $15,000.00 for those applicants who sign contracts between 1 January 2021 and 31 March 2021;
  • extending the construction commencement window by 6 months (to the end of September 2021); and
  • increasing the price cap for new builds in New South Wales (now $950,000.00).

To be eligible for the Homebuilder Grant you must:

  • be a natural person (e.g. not a corporation);
  • be an Australian citizen aged 18 or over; and
  • earn less than $125,000.00 as an individual, or less than $200,000.00 as a couple.

Construction must commence within six (6) months of the signing the contract.

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