The Federal Government’s recent extension of the HomeBuilder Grant may benefit purchasers in Stages 1 and 2 at Octave, Junction Village with grants of up to $15,000*
Here’s what you need to know:
Introduced earlier this year, the Federal Government’s HomeBuilder Scheme provides grants to eligible people who are building a new home or renovating an existing one.
The scheme is available to Australian Citizens who are 18 years and over, and have a taxable income below $125,000 per annum as an individual or $200,000 per annum as a couple.
Applicants must not have previously applied for the HomeBuilder grant on another property.
The applicant must live in the home as their principal place of residence for at least 6 months immediately after completion of construction. Investment properties are excluded from the scheme.
The homebuilder scheme was due to end at the end of 2020 but has been extended by 3 months at a lower rate to the 31 March 2021. This means that purchasers in Stages 1 and 2 at Octave, who enter build contracts before this date may be eligible for the $15,000* grant.
What else has changed?
In addition to the extension price caps on contracts for new builds in Victoria will rise to $850,000* and the amount of time given to start construction will also be increased from three months to six months. This means you have until September to start your build- perfect for Stages 1 and 2 at Octave which are anticipated for completion mid-2021.
To date, the scheme has benefited 19,000 owners in new builds, for more information visit: https://www.sro.vic.gov.au/homebuilder-grant-guidelines
A limited number of lots remain in Stages 1 and 2 at Octave. Click here to book an appointment and take advantage of this great opportunity!