HomeBuilder Grant with Renovare

Do you love where you live but have simply outgrown your home and are looking for a transformation without changing your address? Then now could be the perfect time to get that dream renovation you’ve always wanted. Announced the first week of June 2020 And updated on 29th November 2020 by the Federal Government, the HomeBuilder Grant will provide owner-occupiers with a substantial grant of $15,000 (previously $25,000) to build a new home or substantially renovate an existing one.

If you’ve been holding off on remodelling your home, speak to your local home renovations builder today and see how the Renovare team can get you the house you’ve always wanted.

What is the HomeBuilder Grant?

The HomeBuilder Grant is a Federal Government economic stimulus package that will be implemented state and territory-wide through a National Partnership Agreement. Eligible owner-occupiers (including first homebuyers) will be granted $15,000 (previously $25,000) to build a new home or substantially renovate an existing one.

To be eligible to receive the HomeBuilder Renovation Grant with Renovare you must meet the following criteria:

Be a natural person (not a company or trust);
Be aged 18 years or older;
Be an Australian citizen;
Meet one of the two following income caps:
- $125,000 per annum for an individual applicant based on the 2018-2019 tax year or later; or
- $200,000 per annum for a couple based on the 2018-2019 tax year or later
The value of your existing house and land cannot exceed $1.5 million;
Renovations must be completed by a licensed builder.

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.

HomeBuilder Grant FAQs

What renovations are eligible for the grant?

The 15k (previously 25k) HomeBuilder Grant can be used for renovations that improve the accessibility, livability and safety of your principal place of residence. Some of which may include kitchen renovations, bathroom renovations, apartment renovations, outdoor decks, patios, entertaining areas, house raising, and more. The grant cannot be used for additions to a property such as swimming pools, tennis courts, outdoor spas and saunas, or sheds and garages not connected to the property. For more information get in touch with your local Renovare builder.

Can I combine multiple renovation works?

Yes, as long as all renovations improve accessibility, livability and safety of your principal place of residence, the 15k (previously 25k) HomeBuilder Grant only requires your total contract value to be between $150,000 and $750,000 in Queensland & $950,000 in New South Wales

Is the HomeBuilder Grant taxable?

No, as per the HomeBuilder scheme announcement, the HomeBuilder grant will not be taxable income.

I have used the First Home Buyers Grant in the past, or am not a First Home Buyer, am I eligible for the grant?

Yes, provided you meet all the eligibility criteria you are eligible to use the HomeBuilder grant for your renovations with Renovare.

Can I renovate an investment property or a holiday home?

No, the HomeBuilder scheme only applies to substantial renovations made to your principal place of residence.

Can I apply for the grant through Renovare?

At this stage, the information released from the Federal Government is that you will be required to apply through your relevant State or Territory revenue office. Our team at Renovare will be keeping a close eye on the guidelines as more information is released.

What documents do I need to apply for the HomeBuilder Renovation Grant?

A full list of documents required will be released in due course, however, at this early stage documents required are as follows:

Proof of identity;

A signed and dated copy of the contract between your Renovare builder and yourself;

A copy of your Renovare builder’s license;

A copy of your 2018-2019 tax return or later to prove your income cap eligibility;

Documents for council approvals, building contracts, evidence of land value and the like.

Can Renovare help with document preparation?

Your local Renovare builder is happy to assist with the preparation of documents that we are able to prepare such as building contracts, a copy of our builder’s license, and relevant council approvals. Documents such as tax returns, proof of identity and other personal documentation you will need to prepare on your own.

Will HomeBuilder be backdated?

Yes, HomeBuilder applications can be backdated to 4 June 2020.

Limitless Possibilities with the HomeBuilder Renovation Grant

At Renovare, our team of licensed builders are highly experienced in premium home renovations and are passionate about ensuring our customers are always completely satisfied with our work. While every home renovation is unique and costs depend on a range of factors such as the scope of the renovation, quality of fittings and materials used, and labour costs, as a HomeBuilder guide, we’ve prepared some approximate costs for different types of renovations to help you set a manageable budget for your home transformation.

Kitchen Renovations – $20,000 to $50,000+

Bathroom Renovations – $15,000 to $40,000+

Living Room Renovations – $10,000 – $20,000+

Master Bedroom with Ensuite – $10,000 – $40,000+

Bedroom Renovations – $5,000 – $30,000+

Outdoor deck and patio area – $30,000 – $50,000+

Raise and Restumping – $30,000 – $50,000+

Home Extensions – $2,000 to $3,000 per m2+

Apartment Renovations – $2,000 to $3,000 per m2+

Renovare Toowoomba Internal Renovation Dio-3

Ready to Transform Your Home?

Take advantage of the HomeBuilder Renovation Grant with Renovare and remodel your home; get the home you’ve always dreamed of. With a range of premium home renovations available constructed by your local Renovare builder and backed by systems and processes designed to ensure your happiness, your dream home is limited only by your imagination. Find out more about HomeBuilder and renovating your home with Renovare by getting in touch with your local Renovare builder today.