Construction Commencement Date Extended for HomeBuilder Grant
The time to apply for the HomeBuilder Grant has now expired. It has been a great success with aspiring home owners. With grants of either $25,000, if a building contract was signed by 31 December 2020, or $15,000 if signed between 1 January 2021 and 31 March 2021. In fact over 120,000 people have applied for the grant.
One of the key requirements to qualify for the HomeBuilder Grant is that construction must commence within 6 months of signing the contract. However, some have found it very difficult to meet this deadline. Some of the reasons for this include:
- Builders and other types of trades (such as carpenters and plumbers) are finding it hard to meet demand causing delays in construction start dates
- Building materials are in short supply.
- Local Councils are taking longer than usual to approve new home building applications.
This has become a big issue as many families factored in the HomeBuilder Grant into their budget. As a result, if they don’t qualify for the Grant, it may mean they will not be able to afford to finish their home.
Fortunately, the Federal Government has recently extended the time to commence construction from 6 months to 18 months.
What are the New HomeBuilder Grant Rules?
The following are the new requirements that must be met to qualify for the HomeBuilder Grant:
- The building contract must have been signed between 4 June 2020 and 31 March 2021
- All supporting documentation (such as invoices for work done, and proof that construction has started) must be submitted by 23 April 2023. For Victorians, this information must be submitted to the State Revenue Office.
The 18 month period starts from the date you signed your building contract. This means if you signed your contract on 4 June 2020 you have until 4 December 2021 to commence construction.
When Do you Get Paid the HomeBuilder Grant?
For new home builds grants will be paid after construction has commenced and the first progress payment has been made to the builder.
Why you Need a New Home Inspection
Don’t forget when you build your new home, to get your building inspections done. By undertaking a new home inspection, you are assured that, when you move in, you won’t get any nasty surprises due to poor workmanship.
Types of New Home Inspections
Normally an inspection is carried out when your builder is finished a major stage in building your new home. A slab inspection is a two stage inspection to ensure your home won’t have any structural issues. A house frame inspection is done when the wall and roof frames have been completed. The pre paint inspection is performed after your home has been plastered and the internal fix has been completed.
The lock up inspection is completed when your new home has it’s external cladding or brickwork complete. Finally, the pre-handover inspection is done when your house is ready to move in and a final check is made to ensure everything is up to Australian standards before you make final payment to your builder.
We always use a detailed checklist. This ensures that ALL defects are identified, as well as any non compliant issues at every stage of your new home build. This way you will know what you’re buying. What is included in the checklist varies depending on the type of home inspection being undertaken.