Grants of $25,000 will be available for Australians who carry out substantial renovations to their existing home or build a new home where the contract is signed between 4 June 2020 and 31 December 2020.
The grants are subject to certain conditions including
- construction must be contracted to commence within three months of the contract date
- eligible applicants must fall under income caps of $125,000 for singles and $200,000 for couples
- the cost of building a new home cannot exceed $750,000 and
- a renovation price range of $150,000 up to $750,000 will apply to renovating an existing home with a current value of no more than $1.5 million.
We will provide more information about the eligibility criteria and how to apply in coming days.