Homebuilder Grant, all you need to know!

The HomeBuilder Grant has been extended with some key changes that may impact you and your Purchase/Renovation.

Here are some key dates to ensure you meet the guidelines for the homebuilder grant:

· 4th June 2020 – 31st December 2020: Enter into a contract to Build or Renovate to be eligible for the $25,000 Grant

· 1st January 2021 – 31st March 2021: Enter into a contract to Build or Renovate to be eligible for the $15,000 Grant

· 14th April 2021: All applications must be submitted. Regardless of whether you are eligible for the first grant or the second, this is the cut off date for submissions

· They must be submitted by the 14th April 2021 but you can continue to upload remainder of your documents ongoing, there is no cut-off date for uploading further supporting documents*

· In Victoria, we have been lucky enough to receive a three month extension for the grant, which means we now have six months to commence the build from date of signing the contract

· Please note this applies to all eligible contracts entered into on or after 4th June 2020

· Whereas in all other states if you have entered into on or after 4th June 2020 you only have three months from the date of signing for the builder to commence

· Please allow 15 days from the date of uploading your final documents to the portal before it will be picked up and assessed by the state revenue office (SRO)

· For further info please visit: HomeBuilder | Treasury.gov.au

If you have your signed contract and are ready to start your application click on the link below:

Application for HomeBuilder Grant (firsthome.gov.au)

**Please note once you can start the application, you can save and go back and add documents as you need, so I would advise to get started as soon as possible.

It will not be assessed until your final document has been uploaded and then the turn around times at present as mentioned is 15 days.

When will I get paid?

This grant will get paid directly to yourself upon the second draw down of your loan. Hence why you must apply yourself.

Unlike the FHOG (First Home Owners Grant) that your Broker should complete for you and generally gets paid direct to the bank, this grant is more like a rebate to yourself.

Any other questions feel free to give us a call or email!

Email: abbey@ambfs.com.au

Phone: 0498222116

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