Heard about the Australian Government’s new HomeBuilder grant scheme, but not sure if you qualify or fully understand what it means for you?
To help, we’ve pulled together answers to some of the most frequently asked questions about the scheme, so you can work out if you qualify.
What is it?
HomeBuilder is a time-limited, tax-free grant program intended to help the residential construction market get through the Coronavirus pandemic. If you're building or renovating your home, you can receive a grant of $25,000 under the scheme.
Great news for Australians dreaming of buying their own home. The Federal Government’s new HomeBuilder scheme provides eligible owner-occupiers with a grant of $25,000 to build a new home or substantially renovate an existing home. This will be a welcome relief to many Australians and the country’s economy as it tries to navigate its way out of the current health crisis.
Set to commence on 1 January 2020, the Australian Government’s new First Home Loan Deposit Scheme (FHLDS) initiative is fantastic news for up to 10,000 Australians on low and middle-incomes, as it’s been introduced specifically to help eligible first home buyers enter the property market and purchase their first home, a little earlier – and without incurring additional costs.
