The Green Light on The New Australian Home Builder Grant
In an attempt to build Australia’s receding economy, the government recently announced a $688 million HomeBuilder program June 3rd.
Australians looking to build a new home or start a major renovation can be offered $25,000, this not only kick-starts that renovation you’ve been planning in your head but also supports the construction industry and aids to boost the economy.
The plan applies to the following terms;
- Renovations and new home builds valued between $150,000 to $750,000
- The pre-renovation of a home must not exceed $1.5 million
- This grant excludes external structures such as sheds, pools, and granny flats.
- Available to singles who earn up to $125,000 the previous financial year and couples who each up to $200,000.
- Construction of new homes or substantial renovations must be contracted to begin within 3-months
The scheme will last until the end of the year, to build 30,000 homes by Christmas. This not only boosts the housing sector but will employ hundreds of thousands of trade specialists.
The estimate for this package could possibly generate more than $15 Billion in national economic activity.