Janu Dhayanathan
2nd July 2022
The Federal Government has revealed its new $688 million ‘Home Builder’ scheme. This scheme will see eligible owner-occupiers and first home buyers be able to apply for a one-off $25,000 cash grant from June 4 to December 31 to entice investment in the sector.
The Federal Government has revealed its new $688 million ‘Home Builder’ scheme. This scheme will see eligible owner-occupiers and first home buyers be able to apply for a one-off $25,000 cash grant from June 4 to December 31 to entice investment in the sector.
Together with our team of expert brokers, we have broken down all the key facts you need to know in order to understand if you’re eligible or not, and if so how to take advantage of this opportunity.
Firstly, you need to be an Australian Citizen aged 18 years or over. The scheme is also means-tested so you need to be earning less than $125,000 p.a if you’re single, or, on a combined income of less than $200,000 p.a if you’re a couple.
This scheme is available to individuals only, this means that trusts and companies cannot apply for the scheme and it is not available to investors or owner builders.
It cannot be used for additions that are not connected to the principal place of residence. So you won’t be able to use it for something like pools, tennis courts, granny flats for example.
This is a fantastic opportunity if you’re a first home buyer.
Combine this with the First Home Buyers Grant, any stamp duty concessions available in your state as well as other grant schemes available and this could make it a pretty sweet deal.
It is a great reason to get in touch with one of our brokers today to see what’s available.
Or check out some of the other great resources we have created to help first home buyers along the journey.
You can apply for HomeBuilder through your relevant State or Territory revenue office or equivalent authority once the National Partnership Agreement has been signed by the State or Territory you live in (or plan to live in).
Book in a quick call with our customer care team.
Or, simply email us at customer.care@uno.com.au.