The HomeBuilder Grant – Is It For You?
The government’s home builder grant melbourne grant has finally begun taking applications from Victorians after a web portal was launched on Monday night. The HomeBuilder grant is worth $25,000 for new homes and substantial renovations and is intended to boost the construction industry during the COVID-19 pandemic.
The new online portal can be accessed via the State Revenue Office website and is the only way Victorians can make a formal application for the grant. The launch of the portal is a welcome relief for the building sector in a difficult few weeks as lockdowns have forced many builders and tradies to take time off.
Applicants must lodge their HomeBuilder grant application by 14 April 2021. However, if they started their application before that date, they will be able to continue uploading their supporting documents beyond that deadline.
Complete Guide to the HomeBuilder Grant in Melbourne: Eligibility and Application
Eligible owner-occupiers who enter a contract for a new home or substantial renovation after 4 June 2020 and before 31 December can apply for a grant of up to $25,000. The home must be built by a registered builder and the total value of the property (house and land) must not exceed $750,000. Applicants must also live in the property as their principal place of residence and reside there for a continuous period of six months immediately after completion of construction, renovation or settlement. The HomeBuilder grant is not available for investment properties.
Approvals to build private homes hit a record high in February, driven by the HomeBuilder grant and record low interest rates. But what does the grant actually do and how do you know if you’re eligible?