The Home Construction Grant allows eligible Australians to receive up to $20,000 for the construction of new homes on vacant lots of land. Anyone who has entered an off-the-plan contract can receive the grant. However, only single-tiered properties are eligible under this scheme. For instance, applicants purchasing multi-tiered strata and off-the-plan townhouses will be excluded from the grant.
The New Home Construction Grant is available in conjunction with the First Home Owners Grant (FHOG), the HomeBuilder Scheme, the stamp duty concessions, and other Federal grants. However, in saying this, you do not have to be a first home buyer to take advantage of the New Home Construction Grant.
Eligibility for the New Home Construction Grant:
- Applicant must be an Australian citizen
- Aged 18 years or older
- Applicants can reside in Australia or overseas
- Applicable to owner-occupied properties and investment properties
- Construction must commence within six months of the contract date
- The entry of the contract to build should be between 4 June 2020 – 31 December 2020
- Mixed used, commercial purposes or short stay accommodation are not eligible
Payments of the grant will only be made after the slab down phase. Similar to the First Home Owners Grant, the Construction Grant will be lodged via the banks to the Office of State Revenue (OSR) WA. Only one payment is available for each vacant lot of land. In other words, only a single application can be lodged regardless of the number of homes to be built. However, the same applicant can claim multiple grants on separate transactions. For a full list of conditions for the grant, please visit the WA Government website.
Get in touch with our Mortgage Team
To find out if you are eligible for one or more of the current Government grants, please contact your Pacific Finance Broker via [email protected] or give us a call on (08) 9321 2120. To make it easier to understand all the Housing Grants currently available, the Pacific Team has consolidated the latest Federal and State Housing Grants into an eBook.
Download our Housing Grants eBook via the link below.