HomeBuilder Grant Construction Deadline Extended

Good news for all those who embraced the HomeBuilder Grant incentive scheme with the Federal Government announcing an extension to the construction commencement requirement from 6 months to 18 months.

Due to the overwhelming uptake of the scheme, the effects of the coronavirus pandemic and the market demand for trades and materials, the decision to extend will now provide existing applicants an additional 12 months to start construction.

The 12 month extension applies to applicants that were eligible for the HomeBuilder Grant who signed a contract between 4th June 2020 to 31st December 2020, and 1st January 2021 and 31st March 2021.

The extension of the HomeBuilder construction start date will provide a welcome relief to many applicants and those in the building industry to be able to meet the demands this stimulus package has created.

The HomeBuilder Grant applications closed on Wednesday 14 April, however the First Home Owner Grant supported by the Victorian Government is still available for those that qualify.  The HomeBuilder Grant has encouraged those eligible to get in the market sooner, buy their first home or start a renovation earlier than what they may have planned.

Learn more about the HomeBuilder Guidelines here https://www.sro.vic.gov.au/homebuilder-grant-guidelines