Extensions and Renovations Government Grant, ACT NOW TO QUALIFY FOR THE $25,000 GRANT. Read More

Extensions and Renovations Government Grant

All About the $25,000 Government Renovation Grants

The Australian Government has announced a $25,000 grant in the wake of the COVID-19 pandemic to stimulate the construction industry and create more jobs for tradies. This initiative is called the Home Builder Scheme. All in all, $680 million will be poured into the program across the country.

What is the Eligibility Criteria for the Renovation / Construction Grant for Homeowners?

  • Your eligibility for the renovation grant will depend upon means testing of your income. If you’re single, you must earn less than $125,000 per year (as per your tax return from 2018-2019). If you’re part of a couple, you must earn less than $200,000 per year (also must be proved by your tax returns).
  • You must live in the property you’re applying for the renovation grant for.
  • You must be an Australian citizen over 18 years of age.
  • You must sign off on a building contract between June 4th, 2020 and December 31st, 2020.
  • If you’re building a home to use as your primary residence, the value of the property (including land) must be less than $750,000.
  • If you’re using the renovation and extensions grant to renovate your existing home, the renovation contract needs to be valued between $150,000 and $750,000. The value of your home before renovations must be less than $1.5 million.
  • Construction must commence within three months of the contract date.
  • You must use a licenced builder for new builds, extensions or renovations.

Some Common Questions About the Home builder Grant

Can I Use the Grant to Build a Swimming Pool or Tennis Court?

No, the government renovation grants cannot be used for swimming pool or tennis courts. The renovations covered must improve the accessibility, liveability and safety of your property. Therefore, pools, tennis courts and sheds are not included.

Can the Renovation Grant Be Used for Investment Properties?

No, it must be used for your principal place of residence. Investment properties are not included within the grant’s conditions.

Do I Need to Be A First Home Buyer to Access the Grant?

No, you do not. Any property owner can apply as long as they meet the eligibility criteria above.

How Do I Access the Grant?

To access the grant, you will need to contact the revenue office in the state or territory where you live. You will need to supply documents such as proof of your identity, a copy of the contract with your licensed builder, your tax returns, and other property documents such as council approvals and building contracts.

Is There a Limit to How Many People Can Receive Home Builder?

No, the amount of people is uncapped. The grant is only limited by time.

What Kinds of Homes Are Eligible to Be Built or Renovated with the Grant?

All kinds of homes (including houses, apartments, house and land packages and off the plan) are included in the Home Builder Scheme. However, the owner must sign a contract to build a new home to live in or substantially renovate their existing home.

Is the Grant Taxed?

No, this grant is not taxed, much like the first homeowner grant programs.

Enquire Today to Consult with Us About the Grant

At Extensions Unlimited, we’ve been helping Melbournians improve their properties for many years, and we’ve got the success stories to prove it. If you need a licenced builder to help you apply your Home Builder grant to best extend your home, we’re a leading choice. Contact us today to book a consultation and share your dreams for your property – simply give us a call on (03) 9792 1966. We can’t wait to work on your forever home.

Client
Testimonials

Excellent Project Management! Communication was always clear, precise, timely & trustworthy. The whole extension / renovation process was well handled and we enjoyed the journey.
Huei & Chin-Wei - Mount Waverley

We opted for Extensions Unlimited purely based on our experience with our Designer. We were impressed by his professionalism & conscientiousness in finding the best design for our needs. Moreover, we felt he was someone we could trust. In fact, all Extensions Unlimited staff members were professional & friendly, so dealing with Extensions...
Stephen & Kim - Glen Waverley