$15,000 for contracts signed between 1 Jan 2021 - 31 March 2021
After a huge rush of many home owners wanting to renovate and upgrade their biggest asset and take advantage of the QLD Governments Home Builder Grant, it comes with a great relief to know one can still seize the opportunity.
Although not as substantial as one was back in December, anyone would be foolish not to take this opportunity if they have the means to.
So, what are the key factors you need to know?
You must not have previously received a Home Builder grant in any state or territory of Australia.
You must be at least 18 years of age. (Companies and trusts cannot apply.)
You must be an Australian citizen at the time you apply.
Your 2018–19 or 2019-20 annual taxable income must be below:
$125,000 for an individual or $200,000 for a couple.
You will be the registered owner on the title.
The home will be your principal place of residence after completion or settlement.
The contract is signed between 4 June 2020 and 31 March 2021 to:
buy an off-the plan or new home valued at $750,000 or less (including GST) and construction had not started before 4 June 2020 or
build a new home where the build amount and the value of the land (including any existing structures) is $750,000 or less (including GST) or
substantially renovate an existing home, where
renovations cost between $150,000 and $750,000 (including GST) and
value of property (home and land before renovation) is less than $1.5 million
What the Building Grant Cannot be used for:
stand-alone granny flats
swimming pools and tennis courts
structures that are not connected to the home (i.e. fences, outdoor spas and saunas, sheds or standalone garages).
Getting your ducks in a row
NOTE: The building contract must be signed and dated before 31 March 2021 (no extensions are granted).
How we fit in?
1. The first step in the process would be to obtain house plans - that's where we come in.
We measure up your site plan, discuss your wants and ultimate dreams and work with you on your budget. We provide plans from concept through to construction plans.
2. Tender plans are used to go out to various builders to obtain quotes on the actual cost you renovate your home. As you will be tendering the same plans with a set of materials and size to builders, you will be comparing apples with apples.
*we always suggest you shop around before you sign any contract and do your Due Diligence*
3. Once you have found a builder quote that suits your budget, you've done your due diligence & you get that "gut feeling" that they are the right match for you, you sign the contract to go ahead with the build.
4. Go ahead and submit your details prior to the deadline.
For further details please read the information provided in the below link