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:
Eligibility
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 Extension
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!