15 Jan HomeBuilders Grant SA
As a result of the current coronavirus (COVID-19) pandemic and economic pressure, the Federal Government announced the Home Builders Grant to encourage an increase in work in the construction sector by offering (originally $25,000) a $15,000 grant to eligible applicants to put towards the renovation or construction of their property. This grant is offered to all owner-occupiers (including first home buyers) who either:
- Build a new home
- Substantially renovate an existing home, or
- Buy a new home off the plan
The grant itself will not affect your personal taxable income, so you can put that money straight to good use in assisting you with your property requirements.
For the Home Builders Grant, certain criteria are required to be met to be eligible, where applicants/properties must:
- Be a person (not company or trust)
- Be at least 18 years of age
- Be an Australian citizen (permanent residency not eligible)
- Only receive the Home Builders Grant once nationally
- Be earning less than $125,000 for an individual or $200,000 for couples
- Have the dwelling fixed to the land
- Be zoned or approved for use as a residence
- Enter into a contract before 31 March 2021
- Ensure the work is being completed by a certified tradesperson
- Have a value of less than $750,000 for house and land where the land is vacant for new builds
- Have a value of no more than $1,500,000 for existing homes undergoing substantial renovation where the contract must lie between $150,000 and $750,000 inclusive
If you meet the above criteria and are considering applying for the Home Builders Grant, it is a requirement that you provide a copy of a certified valuation report from a registered property valuer in order to satisfy the requisites and prove the property value considering the above criteria.
Blanco Property Group have been working tirelessly since the announcement of this grant to provide efficient and accurate valuation reports to our valued clients as part of their application process. As we have been involved from the announcement of the grant, we have learnt organically the processes and details needed. Due to our team’s extensive experience and expert knowledge, we are proud to mention that we have been able to greatly assist every client that has ordered a valuation report for this purpose. We also understand the time-constraints experienced by these clients and have been able to deliver our reports within a 2-3 business day turnaround.
Blanco Property Group’s team of expert senior valuers would be happy to assist you with your Home Builders Grant valuation needs. Contact us today to discuss how our experienced Valuers can help with your requirements.