Extended HomeBuilder Grants
The Australian Government has recently announced changes to the HomeBuilder Grants to extend the grants until 31 March 2021 instead of the original of 31 December 2020. The main change is that the value of the grant is reduced to $15,000 from $25,000 for contracts signed between 1 January 2021 to 31 March 2021.
Here is a quick recap on who is eligible:
- a person (ie not a company or trust),
- aged 18 years or older, and
- an Australian citizen
A person (or couple) must not earn more than:
- for single person – up to $125,000
- for a couple -up to $200,000
The value of the home can now be up to $850,000 and must be for a principal place of residence. Note that the property value cannot exceed $750,000 for contracts signed between 4 June 2020 and 31 December 2020. If you have been thinking of building your dream home then you now have extra time to sign your contract to make that dream a reality. You also have 6 months from the time the contact is signed for construction to commence. In addition, your application for the Grant must be submitted by 14 April 2021
The new Homebuilder Grants also applies to renovations and extensions. The value of the renovation or extension must be between $150,000 and $750,000. In addition, the value of your existing home cannot be more than $1.5 million. These rules have not changed.
Why you Need a New Home Inspection
Remember when you build your new home, it is important the you get 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
Usually 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.