The Federal Government’s HomeBuilder Scheme* is making it even easier for those looking to build a new home to get onto the property ladder. The grant could directly help young families, first home buyers, upgraders and downsizers realise their goal of home ownership sooner.
On 29 November 2020, the Federal Government announced an extension to the HomeBuilder Scheme to 31 March 2021.
Read more about changes to the HomeBuilder Scheme below.
Building contract signed date
4 June and 31 December 2020
1 January and 31 March 2021
Construction commencement timeframe in New South Wales
Construction must commence within six months of the contract being signed.
New build price cap
Property value cannot exceed $750,000
Property value cannot exceed:
$950,000 in New South Wales
Applications must be submitted to the State Revenue Office by 14 April 2021.
Other eligibility criteria
Eligibility and other criteria apply
Find out more here - https://www.revenue.nsw.gov.au/grants-schemes/homebuilder
$10,000 NSW First Home Owners Grant
In addition to the Federal Government HomeBuilder scheme, if you are a first home owner in New South Wales, you could be eligible for an additional $10,000* grant. For more details, visit https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer
First Home Buyers Assistance Scheme
The NSW Government has also announced that from 1 August, 2020, First Home Buyers who purchase a new home up to the value of $800,000 may be entitled to an exemption from transfer (stamp) duty. This is an increase from the previous threshold of $650,000. First Home Buyers who purchase a new home with a value of $800,000 to $1,000,000 may be eligible to a partial exemption from transfer (stamp) duty. The new transfer (stamp) duty threshold will be in place for 12 months and will apply to contracts executed from 1 August 2020 to 31 July 2021 *. Learn more about the New South Wales First Home Buyer Assistance Scheme here - https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/assistance-scheme
At Stockland, we’ve been building communities across Australia for over 65 years, helping Australians towards their first, second or forever home, and supporting them throughout their home buying journey. As Australia’s largest residential developer and creator of some of the country’s most liveable and affordable masterplanned communities we are working hard to make sure we have home and land packages available, to help as many people as possible access the scheme.
*Not a Stockland promotion. Eligibility and other restrictions apply. For further information visit: https://www.revenue.nsw.gov.au/grants-schemes/homebuilder, https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer and https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/assistance-scheme
Now is the right time to grow into your new home.
Select your preferred state and enter your details to find out how we can help you take advantage of the scheme and progress towards your new home.
One of our trusted sales professionals will be in touch to discuss great house and land packages and eligible options.