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You might be eligible for $45K of grants to build your dream home.

The introduction of State and Federal Government grants for home buyers has ignited a residential property boom in WA. So, if you’ve been considering a new home build on an empty block or are looking to demolish and rebuild (aka: a substantial renovation), now’s the time to take advantage of up to $45,000 worth of grants.  

 

What grants are available?

Here’s what you need to know. Two new grants have been introduced since June 4, 2020. Both are designed to stimulate the residential property market and create jobs in the construction industry post-COVID-19. These two grants are:

  • $20,000 State Government Home Builders Bonus
  • $25,000 Federal Government HomeBuilder scheme

The above grants are on top of the existing $10,000 First Home Owner Grant (FHOG) and stamp duty concessions. So, if you’re buying your first home, you may be eligible for up to $55,000 worth of grants. 

 

Who is eligible for home building grants?

The State and Federal Government grants have different eligibility criteria. Below is an abridged version, so please visit the relevant website resources provided for detailed information and to check eligibility for your unique situation.

 

$20,000 WA State Building Bonus

To be eligible for the WA Building Bonus grant, you must:

  • Be an Australian citizen aged 18 or older;
  • Signed a building contract between 4 June 2020 and 31 December 2020.

This grant may apply to both owner-occupiers and investors and is not means-tested, making it easier to meet eligibility requirements. 

Get more information on the WA Building Bonus grants.

 

$25,000 Federal HomeBuilder scheme

To be eligible for the Federal HomeBuilder grant, you must:

  • Be an Australian citizen aged 18 or older;
  • Be an owner-occupier, not an investor;
  • Earn an annual income of less than $125,000 for an individual or $200,0000 for a couple;
  • Signed a building contract between 4 June 2020 and 31 December 2020 – this can be either to build a new home to the property value of up to $750,000 OR for an extensive renovation of an existing home to the value of $150,000 – $750,000 (property value cannot exceed $1.5 million);
  • Begin construction within 3 months of signing the contract.

This is particularly well-suited to our ‘demo and rebuild’ offering. If you have an older home, or own the land and are ready to rebuild, now is an ideal opportunity.

For more information and to download the factsheet: HomeBuilder scheme.

 

Knockdown your house to rebuild a luxury home for less

The grants provide an opportunity for those who have always wished to build a high-quality home. The higher building allowance of renovations (up to $750,000) is particularly well-suited to a demo and rebuild with Stannard Homes. So if you have an older home, or own land and are ready to rebuild, now seems like the perfect time to act.

 

Get in touch with Stannard Homes

We’re happy to explore options to help you meet value-based eligibility requirements of these new government grants. If you believe you meet the criteria and are looking to build a new home on an existing plot of land, or demo and rebuild, get in touch and let us help turn your vision into a stylish new home.