There’s always a catch when governments announce grant schemes, and sometimes it’s hard to get details on what you are and aren’t eligible to receive. Let’s have a look at the basics to see what you need to qualify for the renovations part of the HomeBuilder scheme.
– The total value of the grant is $25,000.
– It cannot be used to build a new patio, pool, tennis court, or cheaply renovate a bathroom or kitchen. The renovation must happen as part of the existing property.
– It can, however, include combinations of internal work, like a large kitchen and bathroom refit, new rooms added to the house etc.
– You cannot access the grant if you earn more than $125,000 as an individual or $200,000 as a couple.
– The cost of the renovation needs to be between $150,000 and $750,000. So the minimum out of pocket cost would be $125,000.
In a nutshell, the renovations part of the HomeBuilder scheme is designed for people wanting to perform significant renovations to their primary place of residence (minimum cost $150,000).
