The Federal Government has announced the HomeBuilder Grant incentive scheme deadline for construction has been extended from 6 months to 18 months. Construction now has to be completed by 30th September 2022.
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 and 31st March 2021 inclusive.
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
