Building homes has become popular with the availability of government incentives. With these grants, individuals, as well as, homebuilders are undergoing a lot of pressure to ensure that the new houses and renovation projects start within the stated timeframe for them to obtain these incentives. The homeowners have come out in large numbers to deliver the records of new houses and the old ones that require renovation. There is a $25000 and a $ 15000 grant and lodgment guides to help the builders with the online application. The deadline for application was extended to 14 April 2021 and many home builders are taking advantage of this rare opportunity.
Who is Eligible?
The homebuilder initiative provides grants to homeowners to construct a new home or refurbish their existing home. The grant is available to individuals listed as the property owners. The applicant must:
- be aged 18 years and above
- stand as an individual and not as a trust or a company
- be an Australian citizen
The homes qualified for the funding must be:
- owned by the applicant,
- fixed on land, and
- perfect areas for residence
Additionally, the grant is available for contracts that will be signed between 1 January 2021 and 31 March 2021. Since the commencing of the grants in 2020, there has been an increased demand for various home improvement professionals. Today, homeowners in Sydney are building new homes and renovating their old ones. There has been a boon for Sydney electricians since they need professionals to work on electrical wiring. The eligibility criteria have ensured many people qualify for the grants and this is why there has been a high demand for various home experts.
There is a lot of things that a homeowner can do with a $25000 grant when it comes to home improvement. Think of the main part of the house that requires frequent renovation. The bathroom, for example, is an essential part of a house subjected to harsh conditions. As such, with the funding, there has been a massive demand for bathroom renovations in Sydney and other parts of the house. The best thing about the grants is that they are available to every person including investors and land developers.
There are many people who lost their homes during the bushfire that hit in 2019/20. Therefore, the grants have provided these people with a chance to rebuild their destroyed homes, and the renovation is considered substantial. The applicants have been able to receive their grants in the accounts nominated, as long as they have followed the eligibility criteria and the document supporting it provided.
The Bottom Line
The homebuilder grants have been beneficial not only to the homeowners but to land developers and construction professionals. Today, Sidney has witnessed a massive demand for building materials and homebuilders to over these needs. This initiative has helped in tackling the issue of homelessness with many people being able to afford land and build new houses. It has also provided more employment to construction workers and helped the vulnerable people in Australia. This is a huge change for people in Sydney that has provided the opportunity to get sustainable a living.