HomeBuilder Update – Three month extension for construction commencement in Victoria
The Australian Government’s HomeBuilder Grant provides eligible owner-occupiers $25,000 toward a new home. This covers a new home build, renovating an existing home or buying a home off the plan.
The guidelines are as follows: To access the grant, the home building contract has to be signed before 31 December 2020, with building to commence within three months of signing the contract.
However, with Stage 4 COVID restrictions in Melbourne, the Commissioner of State Revenue announced a 3 month extension to the grant. This means if you’ve been approved for the grant, you have 6 months from the date of signing the contract to start construction.
If you have land at Olivia but haven’t yet decided on the home you want to build, you now have more time to plan your ideal home.
Please remember that with this 3 month extension to start construction, applications for the HomeBuilder grant must still be received before 31 December 2020.
Are you eligible for the HomeBuilder grant?
The eligibility criteria to access this grant includes information about your income, residency, home owner status and the cost of the build. Please check the State Revenue Office of Victoria’s HomeBuilder page for more information.
There are many reasons to buy and build in Victoria in 2020
With the incentives available to future home owners in Victoria, it’s money in your pocket which gives you a head start. For more information, see the following links:
Contact the Olivia office today to find out about available house and land packages.
Register your details on our website to find out about new releases or call the Olivia Estate Manager, Christian Taverna on 0422 871 939. Get a head start on something beautiful today at Olivia.