On the 29th of November 2020, the Federal Government made an announcement to extend the HomeBuilder programt to the 31st of March 2021. This means more time to take advantage of the savings you can make when building or renovating your new home!

There have been a number of additional changes:

• A grant of $15,000 for building contracts (ie. significant renovations and new builds) signed between the 1st of January 2021 and 31st of March 2021 inclusive.
• An extended deadline for all applications to be submitted for those who are applying for the initial $25,000 grant and the newer $15,000 to 14th of April 2021.
• There is an extesion to the construction commencement timeframe going from 3 months to 6 months for all HomeBuilder Grant applicants.
• An increase to $950,000 for the price cap of new build contracts signed between January 2021 and 31st of March 2021 inclusive. (the previous cap was $750,000)
• A change in licensing requirements and registrations for builders and developers including:
  • Where an eligible contract is signed on or after the 29 November 2020, the builder or developer must have a valid licence or registration before 29 November 2020
  • Where an eligible contract is signed before 29 November 2020, the builder or developer must have a valid licence or registration before 4 June 2020.

It must be noted that renovations or additions to the property must be connected to the house and that any external improvements such as stand-alone granny flats, swimming pools, tennis courts, outdoor spas, saunas, sheds or stand-alone garages are not included.

How can Vanguard Valuations assist you in securing this Grant?

If you think that your property is valued around or below the $1.5 million mark and unsure if you will be eligible for the grant, a valuation by a Certified Practicing Valuer would be a place to start. We have noticed a softening in the overall market in the months following the shutdown due to Covid-19 and this is reflected in our market commentary and valuation figures. There is only a limited time to take advantage of this opportunity which will not only help you with your either extending, rebuilding or renovating your property but in our slowing economy, will also help the community in a positive way.

So please do not hesitate to send us an email or call us on 1300 359 886 to book in your valuation for the HomeBuilder Grant today.