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HomeBuilder Grant & Building Bonus

June 5, 2020

It’s time to stop dreaming about your new home and start making it happen! Thanks to the Federal Government’s $25K HomeBuilder Grant, plus the WA State Government’s $20K Building Bonus, you could get an extra $45,000 to help build a new home.  Yes, really! The Government is giving away money to help the economy bounce back from Coronavirus.

But it gets even better. If you’re a first home owner, you could still be eligible for the first home owners grant of $10K. This means that some people could get $55K to build their first home.

When you combine that with record low interest rates, there’s seriously never been a better time to build a new home.

Relevant Conditions for Federal $25,000 HomeBuilder Grant

  • You need to fit the eligibility criteria (see below).
  • Your home building contract must be signed between 4 June 2020 and 31 December 2020.
  • Construction of your home needs to begin within three months of the date you sign the contract.
  • You need to be an Australian resident and this will be your principal place of residence.

Relevant Conditions for WA $20,000 Building Bonus Grant

  • Your home building contract must be signed between 4 June 2020 and 31 December 2020.
  • Construction of your home needs to begin within six months of the date you sign the contract.
  • There is no cap on the purchase price or value of the contract.
  • It is open to Australian citizens and foreign persons – you do not need to be living in WA to access this grant, nor does the home need to be your principal place of residence.

Can I Get Multiple Government Grants?

Yes, you most certainly can! You can still apply for all of the following grants and programs, regardless of whether or not you qualify for the HomeBuilder or Building Bonus grants:

  • Federal HomeBuilder Grant of $25K
  • WA Building Bonus of $20K
  • WA First Home Owner Grant of $10K
  • Keystart low deposit home loans
  • Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme.

Even if you’ve previously owned a home before, you might still be able to access both the $25,000 HomeBuilders grant and the $20,000 Building Bonus Grant.

Note that the HomeBuilder and Building Bonus grants are non-taxable, so you won’t have to pay any additional tax if you receive this grant.

Eligibility Criteria for the Federal $25,000 HomeBuilder Grant

  • You are an Australian citizen
  • You are aged 18 years or over
  • You are a natural person (not a company or trust)
  • You earn up to $125,000 per annum for a single applicant or $200,000 per annum for a couple – based on 2018-19 tax returns or later
  • You sign a building contract between 4 June 2020 and 31 December 2020 to build a new home as a principal place of residence, where the property value does not exceed $750,000
  • Construction begins within three months of the contract date.

More Information

Where Do I Start?

The Edge Baldivis is the best estate in Baldivis. It has beautiful landscaped parks, mature trees, walking paths, BBQs, a sports oval and a new Primary School. It’s walking distance to the shops and you’re less than one minute from the freeway. Beautiful beaches, Penguin Island, a golf course and other attractions are also close by.

So simply choose your favourite House and Land package or block of land, then give Reece a call on 0488 600 344. He can help work out what grants you qualify for and how to apply.

House and land starts from just $324K and land is available from just $149K.  We’ve just released some larger blocks over 450m2 in our new Release 6, so move fast if you want something bigger. More will be released shortly.

Make an Enquiry