Under the Federal Governments Home Builder Scheme, the cash splash is available to buyers of new properties and renovators regardless of whether they are first home owners or not.
How it works
- Available for owner occupiers for construction or renovation contracts signed between 4th June 2020 and December 31st 2020. The project must be started within 3 months of the contract date.
- Not available for investment properties.
How to get access
State or territory governments will administer the scheme. Available to owner- occupiers who are both over 18 years of age and are Australian citizens.
Singles cannot earn more than $125,000 per annum based on the 2018-2019 taxyear and couples cannot earn more than $200,000 combined.
New home build contracts must not exceed a value of $750,000 inclusive of house and land. Renovation contracts must be for an existing home where the contract is between $150,000 and $750,000 and where the property value (house and land) pre-renovation does not exceed $1.5M.
For further details on this scheme do not hesitate to contact Paul on 0417 567 747 today.
Tags: home builder scheme