The HomeBuilder Scheme introduced by the federal government is a one-off $25,000 payment to help build or substantially renovate a home.

To be eligible:

• You must be an owner-occupier so you must live in the property you intend to apply for the grant for.
• You must be over the age of 18
• You must be an Australian citizen
• If you are single, you must earn less than $125,000 p.a
• If you are a couple, you must earn less than $200,000 p.a
• You must enter into a building contract between June 4, 2020 and December 31, 2020
• To build a new home as your main residence, the value of that property including land must not exceed $750,000
• To renovate your existing home, the renovation contract must be valued between $150,000 and $750,000 and the value of your home prior to renovations must not be worth more than $1.5 million