Business Finance

Everything You Need to Know About the Home Builder Grant

Homeowners in Australia can take advantage of a new program rolled out by the national government to promote the construction and contracting industry in recovery from the coronavirus pandemic. What this means for you is the opportunity to take advantage of $25,000 of government funding in pursuit of that dream home you have always wanted. It can be used for first time home buyers or for owner-occupiers to renovate an existing structure. The possibilities here are endless.

A lifeline for new home construction.

Construction of a new home can cost an arm and a leg. The search for the right contractor, materials, and putting it all together to create new home designs to your liking is a tall order and often feels as if it costs an extortionate amount of money. With the home builder assistance provided by the Australian government, you can take a major chunk out of the overall bill, letting you focus on the details that really matter to you.

With an additional $25,000 in your coffers, you can also stretch for the additions you thought were out of your budget. You can easily include that wonderful walk-in closet or the marble countertops that would round out the perfect kitchen in your dream home. Alternatively, this additional funding could be put towards the construction of the perfect outdoor space for hosting parties or relaxing with your family. Pool decks or a secluded getaway space in the back yard make for an excellent addition to an Australian home but often get overlooked because of the cash.

This could be just the thing your family needs during the pandemic. Outdoor spaces go a long way to improving your mood and overall happiness. They also lower stress, reduce heart rate and blood pressure and can motivate you to get moving and stay healthy. Being outdoors is so important nowadays, so making the effort to include some patio furniture and finishing off the yard may be just the thing your family needs to stay mentally alert and healthy as we all try our best to recover from the effects of lockdown.

Renovations

For those already in their home, redoing the kitchen or bathroom may be just the spark you need to allow for some new energy in the house. Alternatively, you could add a new sitting room in the back or extend a patio across the front or back of your existing structure to make better use of the outdoor space. The cramped conditions of our homes have really begun to set in as we all spend more time in these structures. So, tearing down a wall, revamping the front room, or installing a new set of countertops on the government’s dime will go a long way to improving your outlook.

Taking advantage of the new program.

All states and territories are now accepting applications for the program and each varies slightly. In the Capital territory, for example, you must complete an interest form and then lodge detailed plans for your upgrade. The application process is straightforward, but make sure you register your project early. The window for applications for many regions lasts until the end of the year. If you seek assistance after that time you won’t be eligible for the program and will have to undertake the project alone.

While the program is designed to help you, remember that it is also a shot in the arm for the Australian economy. Getting contractors back to work with these grants to homeowner building projects is one way we will jumpstart our national recovery. Not only will you get a new, beautiful bedroom or kitchen out of it, but you’re also doing your part to get us all back to work.