Finance | 4 June 2020

$25,000 HomeBuilder Grant

by Carlisle Homes

29 November Update: The 25K New HomeBuilder Grant has now been extended until March 31, 2021. Read more here

The new $25K HomeBuilder Grant will bring your dream of a brand new home closer. Federal government has just announced a $25,000 grant to support new home ownership and it is an opportunity to get all the benefits of a brand new home for less. 

$25K HomeBuilder Grant Eligibility:

To qualify for the HomeBuilder Grant in Melbourne, you need to be an eligible owner-occupier (no investors, company or trust purchasers) and be building a new home worth less than $750,000 (including land). 

Applicants for the HomeBuilder Grant must also meet the following income and timing limits to qualify for the scheme:

  • Be Australian citizens over the age of 18
  • Singles must be earning $125,000 or less based on their 2018/19 tax return or later.
  • Couples must have a combined income of less than $200,000 based on their tax returns.
  • The $25K HomeBuilder Grant is offered for any contracts entered into between 4 June 2020 and 31 December 2020. The construction of the home must start within 3 months of the contract date.
  • For more information on eligibility, please read the Australian Government HomeBuilder Grant fact sheet here.

The HomeBuilder Grant complements the existing Victorian First Home Owner Grant program, meaning if you are a First Home Buyer, the $10,000 First Home Builders Grant VIC remains in place and you could save $35,000 on your new home! The stamp duty concessions as well as the Commonwealth's First Home Loan Deposit Scheme and First Home Super Saver Scheme are also still applicable, so you could see even more savings coming your way!

$25K HomeBuilder Grant Processing Times

When the Victorian Government begins to accept the $25K HomeBuilder Grant applications, they will backdate acceptance of these applications to 4 June 2020. Information on when and how you will be able to access the grant will become available through the Victorian revenue office.

 

Take advantage of these home builder grants with a fixed price house and land package from Carlisle. With house & land packages across Melbourne under $750,000, you could be eligible to build your brand new home and also take advantage of both the $25K HomeBuilder Grant and the $10K First Home Buyer Grant. View packages here.

Carlisle will continue to bring you the latest details on the HomeBuilder Grant as it is released.

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