There’s still time to take advantage of the $25K HomeBuilder Grant in South Australia
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Home owners rejoice!
The Homebuilder grant has been extended for three more months to March 31, 2021 as declared by the Federal Government.
The New home builders Adelaide help build your dream home. And with the good news coming in by Christmas from the Federal Government, you are a step closer making it true! According to the HomeBuilder grant, those who signed contracts between June 4th, 2020 and December 31st, 2020 are eligible for $25,000 grant amount whether it is to build a new home or for substantial renovation of the building. As per the new extension, contracts between January 1st, 2021 and March 31st, 2021 will be entitled for $15,000 grant amount.
To help you get the maximum grant, Lofty, the trusted name amongst Builders Adelaide will remain open over the entire period of December, except for the 25th of the month.
With the extension of this grant, Lofty will help you earn the maximum grant by December as well as the First Home Owners’ Grant of $15,000, if that is applicable. A potential $40,000 government aid in making your dream home is certainly one of the best Christmas presents you can ever think of!
What is the HomeBuilder Grant?
In accordance with the First Home and Housing Construction Grants (Miscellaneous) Amendment Act 2020, the Commonwealth’s HomeBuilder Grant was declared on June 4th this year. It came in as assistance for those who are looking to substantially renovate their property or are looking for building a new home. The applicants will be eligible for $15,000 to $25,000 grant amount and should start the construction within 6 months of signing the contract.
Find out if you are eligible
The home should be –
in South Australia
· fixed to the land
· legally used as a residential area
The contract –
· should be between 4 June 2020 and 31 March 2021 (inclusive)
· you should have ownership of the place and have the property as principal place of residence for six months and more, within twelve months of completing construction or after enlisted with the certificate title for new or off-the-plan home
· the applicant must either own the land during the contract or should become one after the contract is signed
· should not have received the HomeBuilder Grant anywhere else in Australia
· the property cannot be valued more than $750,000 (inclusive the land price)
· construction can commence before the sales contract but must commence on or after 4 June 2020
· contracts should be made at arm’s length
· the home builder should have a valid working licence as permitted under Building Work Contractors Act 1995
The individual should be-
· 18 years of age or older
· must be Australian citizens
· should be a natural person, not as a company or trust
· both individuals and couples can apply (couples can be either married, be in registered relationship as per Relationships Register Act 2016 (SA)), or a de facto couple living in a genuine domestic relationship)
· must fulfil the income cap for either the 2018-19 or 2019-20 full financial year (that is, should have less than $125,000 as taxable income for individuals or with less than $200,000 for couples
