Save $15,000 until March 2021: What the HomeBuilder Grant extension means for off-the-plan property purchases

Save $15,000 until March 2021: What the HomeBuilder Grant extension means for off-the-plan property purchases
Save $15,000 until March 2021: What the HomeBuilder Grant extension means for off-the-plan property purchases

The Federal Government has just announced that the HomeBuilder Grant, which was set to end on December 31st, will be extended at a reduced rate. Home buyers who are eligible for the grant could be entitled to receive $15,000 for the purchase of a HomeBuilder Grant approved off-the-plan property.

Since the grant was introduced, around 24,000 applications have been made to claim the $25,000 grant, with 19,180 of those applications being for new builds, with just 4,697 applications having been submitted for home renovations.

Grant rules and restrictions vary state-to-state, so here's an overview of what to expect:

VICTORIA HOMEBUILDER GRANT GUIDE

HomeBuild Grant Extended and increase price cap to $850,000 in VIC

Reduced from $25,000 to $15,000 for building contracts signed between Jan 2021 and March 2021.

Home buyers have until December 31st 2020 to take advantage of the $25,000 HomeBuilder Grant.

Click here to search new VIC Residences under $850,000

Save ,000 until March 2021: What the HomeBuilder Grant extension means for off-the-plan property purchases

NEW SOUTH WALES HOMEBUILDER GRANT GUIDE

HomeBuild Grant Extended and increase price cap to $950,000 in NSW

Reduced from $25,000 to $15,000 for building contracts signed between Jan 2021 and March 2021.

Home buyers have until December 31st 2020 to take advantage of the $25,000 HomeBuilder Grant.

Click here to search new NSW Residences under $950,000

Save ,000 until March 2021: What the HomeBuilder Grant extension means for off-the-plan property purchases

QUEENSLAND HOMEBUILDER GRANT GUIDE

HomeBuild Grant Extended for New Residences under $750,000 in QLD

Reduced from $25,000 to $15,000 for building contracts signed between Jan 2021 and March 2021.

Home buyers have until December 31st 2020 to take advantage of the $25,000 HomeBuilder Grant.

Click here to search new QLD Residences under $750,000

SOUTH AUSTRALIA HOMEBUILDER GRANT GUIDE

HomeBuild Grant Extended for New Residences under $750,000 in SA

Reduced from $25,000 to $15,000 for building contracts signed between Jan 2021 and March 2021.

Home buyers have until December 31st 2020 to take advantage of the $25,000 HomeBuilder Grant.

Click here to search new SA Residences under $750,000

WESTERN AUSTRALIA HOMEBUILDER GRANT GUIDE

HomeBuild Grant Extended for New Residences under $750,000 in WA

Reduced from $25,000 to $15,000 for building contracts signed between Jan 2021 and March 2021.

Home buyers have until December 31st 2020 to take advantage of the $25,000 HomeBuilder Grant.

Click here to search new WA Residences under $750,000

Further reading:

Buy now and save: 20 Urban listings eligible for the $25,000 HomeBuilder Grant

Everything you need to know about Australia's $25,000 HomeBuilder Grant + how much off-the-plan homebuyers could save

Olivia Round

Olivia Round

Olivia Round is the Features Editor of urban.com.au. Olivia specialises in news reporting, in-depth editorial content and video + podcast interviews with industry experts.

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Home Builder Grant

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