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FHLDS New Homes Fact Sheet

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Industry Update

Home Builder Extension

As recently announced, the HomeBuilder program will be extended to 31 March 2021.

Changes to the HomeBuilder program include:

  • A $15,000 grant for building contracts (new builds and substantial renovations) signed between 1 January 2021 and 31 March 2021, inclusive.
  • An extended deadline for all applications to be submitted, including those applying for the $25, 000 grant and the new $15,000 grant. Applications can now be submitted up until 14 April 2021 (inclusive). This will apply to all eligible contracts signed on or after 4 June 2020.
  • An extension to the construction commencement timeframe from three months to six months for all HomeBuilder applicants. This will apply to all eligible contracts signed on or after 1 January 2021, but will also be backdated and apply to all contracts entered into on or after 4 June 2020.
  • An increase to the property price cap for new build contracts in New South Wales and Victoria to $950,000 and $850,000, respectively, where the contract is signed between 1 January 2021 and 31 March 2021, inclusive.
    • The existing new build property price cap of $750,000 will continue to apply in all other States and Territories.
  • A change in licensing requirements and registration for builders and developers, as below
    • Where an eligible contract is signed on or after the 29 November 2020, the builder or developer must have a valid licence or registration before 29 November 2020.
    • Where an eligible contract is signed before 29 November 2020, the builder or developer must have a valid licence or registration before 4 June 2020.

Other than the above, the existing program criteria applies. That is, the other existing eligibility criteria remains in place and the $25,000 grant will still be made available for eligible contracts signed on or before 31 December 2020.

First Time Home Buyers

A daunting but exciting prospect buying your first home .

Let me help gain you a pre-approval and take the worry out of your finance.

I will guide you through the whole process, liaise with solicitors, cost everything thoroughly , apply for your first home owners grant and help you with a debt reduction strategy .

If you don’t have a deposit ,, but have the capacity to borrow ,have a family member who is gainfully employed and has equity in their property , let me help show you how to save thousands of dollars avoiding unnecessary mortgage insurance premiums by completing a family guarantee loan.

This process involves allowing you to borrow up to 80% of your purchase price and the remainder 20% is secured by family members property. The family member will provide a guarantee against this loan portion only. The loans are all in your name .
Once you have built up sufficient equity, we can release this additional property and return security back to guarantor.