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HomeBuilder Grant 2020

HomeBuilder Grant 2020

This week the Australian Government announced the HomeBuilder Grant designed to help stimulate the building and construction industry.

HomeBuilder complements the existing state and territory First Home Owner grants together with stamp duty concessions and other grant schemes available now. This also includes the current Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme. (The Treasury, 4 June, 2020).

Home buyers can now apply to receive a $25,000 grant toward a new home build. This is paid for a new home build (including land) up to $750,000 or renovations from $150,000 up to $750,000 and must not exceed $1.5 million. The grant will be available to building contracts signed between 4 June and 31 December, 2020.

New home builds must be completed by a licensed contractor in your state or territory. We can help you gain finance for your new home and guide you through the process successfully.

To apply for the grant, visit the Treasury website here.

Building a new home

When you set out to build a new home, it can seem like a daunting task. It does involve a lot of research, viewing display homes and finding a trusted builder and/or architect to construct the home.

Considerations must also be given to your budget and finance. Working with an experienced builder can save you time and money and give you confidence in the project. Your builder will also work with you to keep the construction within your budget.

It’s important to check they are licensed and look at the work they’ve completed previously. They will guide you through the process from start to finish so you understand the building process and have the ability to make changes along the way.

Getting a home loan

Trying to arrange home loan finance yourself can be a stressful task. Banks and Credit Unions will speak with you to do so but, it can easily become a confusing and frustrating process.

Working with a Broker will make the process a lot easier. We will do all the work for you to maximise your chance of obtaining finance at the best possible rate. Currently, some institutions are offering rates below three (3) percent which will save you thousands of dollars.

To get started, contact your Broker to discuss your needs and how to apply for the HomeBuilder grant. We know the processes and requirements to apply for a home loan and what the bank will require from you.

We will guide you through the process and manage the application process for you. We will assess all the options available to you so you can find a loan that meets your requirements and saves you money and interest over the coming years.

The HomeBuilder Grant will make a significant contribution to the loan and help reduce the amount borrowed, again saving you money over the duration of the loan.

Arrange a consultation with us

If you’re ready to take the plunge and apply for a home loan, contact the experienced team at Smik Home Loans to get started today!