Most people already know about the First Home Owners Grant (FHOG) but have you heard of the HomeBuilders Grant?

The HomeBuilder Grant is for both individuals and couples with $25,000 to put towards the construction of your new home or substantially renovating an existing home that you will own and occupy.

This can be a great boost to first home buyers or a foot in the door for people who want to turn their existing property in to an investment property.


This criteria applies to everyone, whether applying as an individual or as a couple.

  • You must be an Australian citizen at the time you apply.
  • You must be at least 18 years of age. (Companies and trusts cannot apply.)
  • You must not have previously received a HomeBuilder Grant in any state or territory of Australia.
  • Your 2018–19 or 2019-20 annual taxable income must be below:
    • $125,000 for an individual or $200,000 for a couple.
  • You will be the registered owner on the title after completion or settlement.
  • The home will be your principal place of residence after completion or settlement.
  • The contract is signed between 4 June 2020 and 31 December 2020 to:
    • buy an off-the plan or new home valued at $750,000 or less and construction had not started before 4 June 2020
    • build a new home valued at $750,000 or less (house and land)
    • substantially renovate an existing home, where
      • renovations cost between $150,000 and $750,000
      • value of property (house and land before renovation) is less than $1.5 million


If this sounds like you then speak to a finance specialist.

“Got any questions the FAA Team are here to help!”

John Hehir