The HomeBuilder Scheme

The Australian Federal Government has announced the new HomeBuilder Scheme to support the residential construction sector. As a result, eligible Australian can receive up to $25,000 to assist in the construction or renovation of their homes. The HomeBuilder Scheme is available in conjunction with the First Home Owners Grant (FHOG), the stamp duty concessions, and other Federal grants.

In saying this, you do not have to be a first home buyer to take advantage of the HomeBuilder Scheme. It is also important to note that the HomeBuilder Scheme will not apply to investment properties. In addition, property owners who intend on building or renovating on their own (owner-builder) without the help of builders will not be eligible for the grant.

Eligibility for the HomeBuilder Scheme

  • Applicant must be an Australian citizen
  • Applicant must be aged 18 years or older
  • Only applicable to owner-occupied properties. It should be noted that off-the-plan apartments are also acceptable.
  • Construction must commence within 3 months of the contract date
  • Taxable income must be below the following thresholds –
    • $125,000 per annum for individuals
    • $200,000 per annum for couples

The HomeBuilder Program requirements: 


New Homes

  • The new home must be the applicant’s principal place of residence
  • The combined property and land value must not exceed $750,000
  • The land should be purchased before or after 4 June 2020
  • The contract to build must only be entered after 4 June 2020


  • The existing value of the property must be less than $1.5 million. To clarify, this is the pre-renovation value of the property and land
  • The value of the renovations must be between $150,000 – $750,000
  • Renovations must be substantial. In other words, the renovations must improve accessibility, safety or liveability of the property to qualify for the grant. Luxury renovations such as pools, tennis courts, spas, etc will not be part of the grant


  • The contracts must be entered between 4 June 2020 – 31 December 2020

The HomeBuilder Scheme is a tax-free grant which is only available for a limited time. Therefore, it is important that you act quickly to take advantage of the grant. 

Get in touch with our Mortgage Team

For more information on the HomeBuilder Program, please contact your Pacific Finance Broker via or give us a call on (08) 9321 2120. To make it easier to understand all the Housing Grants currently available, the Pacific Team has consolidated the latest Federal and State Housing Grants into an eBook.

Download our Housing Grants eBook via the link below.