Overview

HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations this year. We believe most purchasers at Riverland Estate are eligible (with some criteria to be met.) It’s an amazing opportunity for buyers and will go a long way assisting you financially with your upcoming project at Riverland Estate.

  • HomeBuilder is a time-limited grant program to help the residential construction market to bounce back from the Coronavirus crisis.​
  • HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home where the contract is signed between 4 June 2020 and 31 December 2020. Construction must commence within three months of the contract date.​
  • HomeBuilder will complement existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes, as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme.​

We have attached the Federal Governments Home Builder Facts Sheet (140KB PDF) for your reference. Please read this carefully and ensure you qualify for this economic stimulus package. If you are a First Home Builder you are also still eligible for the Victorian State Governments First Home Buyers Grant of $20,000 so that’s an amazing $45,000 combined in Government Grants to build at Riverland Estate.

Eligibility​

To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:​

  • You are a natural person (not a company or trust);​
  • You are aged 18 years or older;​​
  • You are an Australian citizen;​
  • You meet one of the following two income caps:​ – $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or​ – $200,000 per annum for a couple based on both 2018-19 tax returns or later;​
  • You enter into a building contract between 4 June 2020 and 31 December 2020 to either:​ – build a new home as a principal place of residence, where the property value does not exceed $750,000; or​ – substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property does not exceed $1.5 million;
  • Construction must commence within three months of the contract date.​

Process and Timing​

HomeBuilder will be implemented via a National Partnership Agreement, signed by the Commonwealth and State and Territory governments. This approach will utilise existing state and territory mechanisms to distribute the HomeBuilder payments.​ When the States and Territories begin accepting HomeBuilder applications, they will backdate acceptance of these applications to 4th June 2020.​ Information on when and how you will be able to access HomeBuilder will become available through the relevant State or Territory revenue office.

First home buyers in Warrnambool also have the advantage of the Victorian State Governments First Home Owner Grant for New Homes in Regional Victoria (State Revenue Office Regional Councils M-Y Warrnambool City Council). The Regional First Home Buyers Grant (FHOG) is a $20,000 payment for first home buyers who buy or build their NEW Home, valued at $750,000 or less in Regional Victoria after 1st July 2017 and No later than 30th June 2021.

Victorian State Government also offering further savings to regional First Home Buyers a Stamp Duty Exemption or Concession – a one off duty exemption for a principal place of residence (PPR) values up to $600,000, or a concession for a PPR with a dutiable value from $600,001 to $750,000 if you enter into your contract on or after 1st July 2017. We really hope this has been of some assistance for you and remember I’m here to help you get the best result for your future at Riverland Estate. Exciting times it’s all about to happen!😊

If you have any questions at all or if I am able to help you in any way please feel free to contact me anytime. Regards Clayton Harrington

Federal Home Builder Stimulus

Overview

HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations this year. We believe most purchasers at Riverland Estate are eligible (with some criteria to be met.) It’s an amazing opportunity for buyers and will go a long way assisting you financially with your upcoming project at Riverland Estate.

  • HomeBuilder is a time-limited grant program to help the residential construction market to bounce back from the Coronavirus crisis.​
  • HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home where the contract is signed between 4 June 2020 and 31 December 2020. Construction must commence within three months of the contract date.​
  • HomeBuilder will complement existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes, as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme.​

We have attached the Federal Governments Home Builder Facts Sheet (140KB PDF) for your reference. Please read this carefully and ensure you qualify for this economic stimulus package. If you are a First Home Builder you are also still eligible for the Victorian State Governments First Home Buyers Grant of $20,000 so that’s an amazing $45,000 combined in Government Grants to build at Riverland Estate.

Eligibility​

To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:​

  • You are a natural person (not a company or trust);​
  • You are aged 18 years or older;​​
  • You are an Australian citizen;​
  • You meet one of the following two income caps:​
    – $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or​
    – $200,000 per annum for a couple based on both 2018-19 tax returns or later;​
  • You enter into a building contract between 4 June 2020 and 31 December 2020 to either:​
    – build a new home as a principal place of residence, where the property value does not exceed $750,000; or​
    – substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property does not exceed $1.5 million;
  • Construction must commence within three months of the contract date.​

Process and Timing​

HomeBuilder will be implemented via a National Partnership Agreement, signed by the Commonwealth and State and Territory governments. This approach will utilise existing state and territory mechanisms to distribute the HomeBuilder payments.​
When the States and Territories begin accepting HomeBuilder applications, they will backdate acceptance of these applications to 4th June 2020.​ Information on when and how you will be able to access HomeBuilder will become available through the relevant State or Territory revenue office.

First home buyers in Warrnambool also have the advantage of the Victorian State Governments First Home Owner Grant for New Homes in Regional Victoria (State Revenue Office Regional Councils M-Y Warrnambool City Council). The Regional First Home Buyers Grant (FHOG) is a $20,000 payment for first home buyers who buy or build their NEW Home, valued at $750,000 or less in Regional Victoria after 1st July 2017 and No later than 30th June 2021. Victorian State Government also offering further savings to regional First Home Buyers a Stamp Duty Exemption or Concession – a one off duty exemption for a principal place of residence (PPR) values up to $600,000, or a concession for a PPR with a dutiable value from $600,001 to $750,000 if you enter into your contract on or after 1st July 2017.

We really hope this has been of some assistance for you and remember I’m here to help you get the best result for your future at Riverland Estate. Exciting times it’s all about to happen!😊

If you have any questions at all or if I am able to help you in any way please feel free to contact me anytime.

Regards
Clayton Harrington