If you’ve read our previous posts on the Government’s HomeBuilder Scheme, you’ll know what it is and that it was due to end soon. In response to COVID-19 and the current economic status, the Government has extended the grant’s cut-off date – great news for homeowners across the country!
The grant can greatly aid owner-occupants in buying a brand new-house, off-the-plan property or renovating a large portion of their existing home. Not only is it a significant amount of money for successful applicants, but it also stimulates activity in the construction industry and stabilises jobs for hard-working Aussies.
The New Scheme End Date
As mentioned in one of our previous posts, the HomeBuilder Grant was due to end in December 2020. But on 29 November 2020, the Government announced an extension and an end date of 31 March 2021. So, there’s still time to find out if you fit the criteria for the HomeBuilder Scheme (read the eligibility criteria here) and you can apply for it online. It’s a great opportunity for those who weren’t ready to make a purchase in 2020 but want 2021 to be their lucky year.
Changes & Updates To The HomeBuilder Scheme
With the new end date has come a few other amendments. Amongst the changes are the grant amounts. If you have signed a contract between 4 June 2020 and 31 December 2020, the grant amount is $25,000. If you sign a contract between 1 January 2021 and 31 March 2021, the grant amount is $15,000. So, if you missed out last year, there’s still a chance to apply and receive funding to go toward your property.
The grant numbers aren’t the only figures that have changed – there is an updated and increased new build gap too. Previously, a new build could not exceed $750,000 to be eligible for the grant, but now the property value of a new build cannot exceed $950,000. The jump in value means that there’s more opportunity and flexibility in where to build while still being in the pool of eligibility.
How New Edge Homes Can Help
With a wide range of home designs in our catalogue, New Edge Homes can help homeowners looking to build in the greenfield areas of NSW while allowing them to stay well beneath the $950,000 threshold of the scheme’s criteria. Our double-story display homes offer a great opportunity to walk through and envision a lifestyle for yourself and your family. Not only are our homes modern and comfortable for the everyday Aussie, but we also offer exceptional service with our expert team. Visit a New Edge Homes display home near you and find out just how easy it is to get your new house underway.