HomeBuilder Package : The HomeBuilder package is designed to boost the construction industry

and the Australian economy.

Since Grants of $25,000 will be offered

So to renovators and new home buyers.

What is the HomeBuilder Package and who qualifies?

The grants will be means-tested.

So

The package is available to owner-occupiers who sign a contract to start building or commence renovations to their property after June 4.

  1. A new home valued up to $750,000 including land
  2. Renovations valued between $150,000 to $750,000 and the property value must be under $1.5m
  3. Recipients will need to spend at least $150,000 of their own money
  4. Owner-occupiers that renovate their home from 4th June to 31 December 2020
  5. If you are single and earn up to $125,000 in the last financial year
  6. Couples who earned up to $200,000 in the last financial year

To build things outside the house like swimming pools,

tennis courts, outdoor spas and saunas, sheds or garages

The scheme is available from June 4 until the end of the year.

The HomeBuilder package will work along with existing state and territory first-home owner grants programs,

stamp duty concessions and other grant schemes,

including the federal government’s first-home loan deposit scheme and first-home super saver scheme.

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