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As an eligible home buyer, builder, or renovator you could receive up to $40,000 in state and federal grants.

HomeBuilder grant (national scheme)

Amount: $25,000
Expiry: 31 December 2020

HomeBuilder grants are available for people who enter into a contract to build a new home or undertake substantial renovations to their existing home.

Key features:

  • Available for owner occupiers only.
  • For building new homes, or
  • Substantial renovations to existing homes (between $150K to $750K).

Main criteria:

  • Construction to commence within three months of entering contract.
  • Contract must be entered into between 4th June - 31st December 2020.
  • Australian citizens only.
  • Income cap applies - singles $125K and couples $200K.
  • When building a new home, the total value must remain under $750K.
  • When renovating an existing home, the total value must remain under $1.5M (excludes granny flats, swimming pools, tennis courts and any structures not connected to property).

More information, including full eligibility criteria is available on the Australian Government Treasury website.

First Home Owners Grant (NSW scheme)

Amount: $10,000

If you’re a first home buyer and you’re buying or building a new home, you may qualify for a $10,000 grant under the First Home Owner Grant (New Homes) scheme.

Key features:

  • Available for first home buyers.
  • For buying or building your first home.

Main criteria:

  • Must be for a new home that no-one has lived in before.
  • House must be worth no more than $750,000.
  • Australian citizens or permanent residents only.
  • You must be over 18.
  • You or one of the first home buyers must move into the new home within 12 months after buying the property, and live there for at least six continuous months.
  • You won’t be eligible for the First Home Owner Grant scheme if you or your spouse have previously: owned or co-owned a home in Australia or received a first home owner grant in Australia.

More information including full eligibility criteria is available on the NSW Government website.

First Home Owners Grant (QLD scheme)

Amount: $15,000

The Queensland First Home Owners’ Grant is a state government initiative to help first home owners to get their new first home sooner.

Key features:

  • Available for first home buyers.
  • For buying or building your first home.

Main criteria:

  • You must be over 18 years.
  • You must be an Australian citizen or permanent resident (or applying with someone who is).
  • You or your spouse must not have previously owned property in Australia that you lived in.
  • You must be buying or building a brand new home.
  • The value of the home including the land is less than $750,000.
  • You must move into the new home as your principal place within one year of purchase/construction competition and live there for six months.

More information including full eligibility criteria is available on the QLD Government website.

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Important information

Information on this website is general and has been prepared without taking into account your objectives, financial situation or needs. You should consider whether this information is suitable for your objectives, financial situation and needs before acting on the information provided.