Extended HomeBuilder Grants
Renovations & Extensions
The Federal Government announced measures in June 2020 to give $25,000 grants to substantially renovate and extend existing homes. If you are eligible, it applies to renovations and extensions between now and the end of 2020.
However, don’t worry if you think you will miss out on this grant. The good news is that an extension has been granted to 31 March 2021. The downside is that the grant is reduced to $15,000.
So don’t put off your renovation or extension any longer. Create that outdoor living area you have been dreaming of.
Eligibility for the HomeBuilder Grant
To recap, to access the HomeBuilder Grant, you must meet the following eligibility criteria:
- be a person (ie not a company or trust),
- aged 18 years or older, and
- be an Australian citizen
Your income levels must not be higher than:
- for singles – up to $125,000
- for couples -up to $200,000
What does the Extended HomeBuilder Grant cover?
The Extended HomeBuilder Grant applies when you substantially renovate your existing home as your principal place of residence. All renovations must be completed by a registered or licenced builder.
The amount of the renovation must be between $150,000 and $750,000. As well, the value of your existing home cannot exceed $1.5 million.
Some types of renovations and extensions are specifically excluded. This includes tennis courts, swimming pools, outdoor spas and saunas, as well as sheds or garages (unconnected to the property).