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New HomeBuilder Grant

This generous government grant gives home builders up to $35,000 to invest into creating their own home. The initiative ends March 31st 2021, so contact us now to start your home building journey.

When it comes to the new HomeBuilder Grant…

Don’t Rush. Don’t go around in Circles. Seek Sound Advice. Choose Carefully.

The Best News

  • HomeBuilder is NOT just for people building their first home. So you can get this grant to build a new home even if you own or have previously owned a home.

  • If you are looking to build your First Home, you may be able to get the $15,000 First Home Owner Grant as well as the HomeBuilder Grant.

  • The Queensland Government has offered a $5,000 building boost for regional areas until March 31st. Giving you $5,000 after the purchase or construction of a brand-new house, unit or townhouse valued at less than $750,000.

That is 35,000 reasons why now is a good time to build your new home!!

Are You Eligible For HomeBuilder

  • You must be an Australian citizen, at least 18 years old.

  • Your income must not be greater than:

    • $125,000 per year for an individual applicant, or
    • $200,000 per year for a couple applying for the grant.
  • You need to enter into a building contract between 4 June 2020 and 31 March 2021.

  • The completed value of the house and land it is built on must not exceed $750,000.

  • Construction must commence within 3 months of the Building Contract date.

  • You must live in the home yourself.

Get organised now to have the best chance of building your new home before the HomeBuilder grant cut-off.

Considering building a new home this year to take advantage of the grants available?

Please consider the following tips and information as you do your research…

2021 Grant Extension

The HomeBuilder program has been extended to 31 March 2021 with a few changes as outlined below.

Changes to the HomeBuilder program include:

  • A $15,000 grant for building contracts (new builds and substantial renovations) signed between 1 January 2021 and 31 March 2021, inclusive.
  • An extended deadline for all applications to be submitted, including those applying for the $25,000 grant and the new $15,000 grant. Applications can now be submitted up until 14 April 2021 (inclusive). This will apply to all eligible contracts signed on or after 4 June 2020.
  • An extension to the construction commencement timeframe from 3 months to 6 months for all HomeBuilder applicants. This will apply to all eligible contracts signed on or after 1 January 2021, but will also be backdated and apply to all contracts entered into on or after 4 June 2020.
  • The existing new build property price cap of $750,000 will continue to apply in Queensland.

Other than the above, the existing program criteria applies.

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Finance

To speed up the process of securing your land and building your home in enough time to secure the HomeBuilder grant, our advice is to establish exactly how much you can borrow and how much you want to borrow.

Knowing how much you can borrow is the best place to start.  You simply can not effectively explore land choices and home choices without knowing exactly what you can (or are willing to) invest.

A mortgage pre-approval from a couple of months ago should be updated as a lot has changed in a short period of time with significant implications in relation to “jobkeeper” and “jobseeker”.

If you are relying on this grant to form part of your deposit, check with your lender first as many lending institutions do no consider the grant as part of your house deposit.

You really need to speak with a Lender or Mortgage Broker who can help you properly understand your position.

So, as the first step in building a new home this year, get in contact with a finance broker or your bank and find out exactly what is available for you. 

Appointments with finance professionals are also booking out fast, so reaching out now is a great idea.

If you would like, we can provide local recommendations. We also have a number of contacts in finance that can assist with DHOAS Loans for Defence Members.

Land

If you already have land or have secured a block that is fantastic. If not, our advice is to do so as soon as possible.

With the HomeBuilder grant, construction of your new home needs to commence within a set period of time. And currently, there are only a limited number of blocks of land available in Townsville and Ayr… and we can’t start construction of your home without land!

It would be wise to make a quick decision on land, but…. You do need to take care. It is very easy to purchase a block of land and then not be able to build the home you want.

We spend a lot of time with our clients helping with their decision on which block of land to purchase. We also have direct access to developers who have released new blocks of land in the past 2 weeks.

For assistance finding the right block for you, book an appointment with one of our friendly New Homes Consultants.

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Design

Our display homes are a great place to spend time considering the best home design for you.

You might just fall in love with one of them and depending on your established budget simply decide that is right for you. Or you will sit down with one of our “New Home Consultants” who will get an understanding of what is important in your home and will be able to recommend the best possible home that fits within your budget.

A floor plan “build price” can vary greatly depending on:

  1. where you want to put it, and
  2. what you want to deck it out with (inside and out).

The best way to get an estimate on the home you would like to build, with your desired specs, on your desired block of land, is to contact us.

Make an appointment with one of our New Home Consultants to design and quote your house plan.

START THE PROCESS

Start Your Research Now

Building a new home does take a little time, so to make sure you’ve got all of your planning and contracts in place to claim the HomeBuilder grant, start the process now.

We would love the opportunity to see if we might be able to help you with building your new home.

Visit a Grady display home this week or send us enquiry right now.

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