To access HomeBuilder, you must be an owner-occupier and meet the following eligibility criteria:
• you are a natural person (not a company or trust);
• aged 18 years or older;
• an Australian citizen;
• you meet one of the following two income caps:
(1) $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or
(2) $200,000 per annum for a couple based on both 2018-19 tax returns or later;
According to the federal government guideline, you must enter into a building contract between 4 June 2020 and 31 December 2020.
You must be substantially renovating your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property does not exceed $1.5 million; The homeowner must have a signed contract with a Registered Builder and construction must commence within three months of the contract date.
Owner-Builders are not eligible. Investment properties are not eligible, it must be your principal place of residence.
When the States and Territories begin accepting HomeBuilder applications, they will backdate acceptance of these applications to 4 June 2020*. Therefore homeowners that sign a building contracts between now until the end date of the stimulus of 31st December 2020 are eligible to apply.
Further information on when and how you will be able to access HomeBuilder will become available through the relevant State or Territory revenue office. At the time of publishing this information has not yet been made available. However, as already mentioned, it will be backdated so now is the time to get moving and start planning your project.
The homeowner applies for the grant once they have signed a building contract with a registered builder. The grant (if you are deemed eligible) is paid directly to the homeowner. The homeowner pays the builder for claims during the project as per usual. The builder does not access the grant at any time.
*This information has been sourced from the Australian Treasury government website and was correct at time of publishing. Please check the source before making any financial decisions to check the facts and to ensure that none of the terms and conditions have changed.
Planning a renovation that is $150,000 or more can take some time. Depending on your renovation requirements, preparation of the necessary documentation such as council submissions, building contracts, working drawings, engineering, can all seem daunting, at D&L Building Services we will guide you through the entire process from start to finish.
The initial design and planning can take as little as 2 weeks and sometimes up to 2 months. That depends a little on how decisive you are and how many times the design is changed!
D&L Building Services offers a wide range of renovation services. $150,000 is no small sum of money and with that, you would be able to completely transform your home.
These are some of the services you may be interested in:
✔️ Second Storey Addition
✔️ Home Extension
✔️ Complete Internal Renovation
Or Combine some of the following:
✔️ External Home Makeover
✔️ Decking and Outdoor Living
✔️ House Remodelling
✔️ Roof Restoration
✔️ Concrete (Driveways, Foot Paths, Patio, Slabs)
✔️ Air Conditioning and Electrical