The government is keen to keep the construction sector humming along in the wake of the Corona Virus shut down. It’s no secret that it’s a key plank of our economy. In order to spur things along the federal government is looking to cut you a cheque for $25,000 if you build a new home or undertake a ‘major’ renovation starting between June 4 and Dec 31 this year.
In case you have been living under a rock, it’s called the HomeBuilder Program.
The best news for all of us is this is an uncapped program. Anyone who follows the rules and meets the criteria will get the grant. Unlike the first home loan deposit scheme which has a capped number of applications – which created a bit of a rush, Homebuilder will be granted to every applicant.
You can apply for multiple programs with a single project based on your eligibility – such as state level first home owners grants, stamp duty concessions, First Home Loan Deposit Scheme and First Home Super Saver Scheme.
To be eligible you must
Each state and territory has to sign a partnership agreement with the federal government. We’ll be keeping a close eye on which states sign on and when. Once signed on, the state/territory will backdate acceptance of these applications to 4 June, 2020.
The other key caveat is these grants are not available for investment properties or owner-builders.
The hardest part of accessing this grant is going to be sorting out the finance. Banks are still being fickle with their lending. So be patient and remember we are working to earn you your $25,000. If you are thinking about building or renovating then get in touch. We can help you figure out what the best path to building a new home or renovating your home is going to be, give us a call on +61 07 2143 8230 or contact us today and we’ll help you get it sorted out.
KarynMAP home loans were referred to me by my Financial Advisor. I was looking to purchase my forever home as I transition to retirement. It was a long shot that I would be able to purchase another home but with the help of Justin at MAP Home Loans this become a reality. I would recommend contacting Justin for your home loan needs.
Grant VolrathI was referred to MAP Home Loans through a 3rd party and can say that I was very well satisfied. Justin never missed any communication and seemed to go above and beyond to help us with our loan. Not only that but the care before and after along with guidance he got us a couple government grants too. Absolutely fantastic Job and will definitely be passing on his information to any friends and peers.
CatiaA huge thank you to Justin for his outstanding service! Finding the perfect place was no easy task and it took a while, but Justin’s support made all the difference. He was always available, providing expert advice and guidance every step of the way. He ensured that I was prepared for the application process, leading to a smooth and successful outcome. I couldn’t have asked for a better experience, and I wholeheartedly recommend Justin. Thanks for helping with this important milestone for me and my little family.
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