The Federal HomeBuilder and WA Building Bonus grants were government incentives first introduced in June 2020 to help stimulate the economy during the COVID-19 pandemic.
Consumers who signed building contracts between 4th June 2020 and 31st December 2020 were eligible to apply for $25,000 in federal grants and $20,000 in state grants, which totalled a huge $45,000 in government incentives.
The Federal Government then announced an extension to the Federal Homebuilder program in November 2020. This extension applied to new building contracts signed between 1st January 2021 and 31st March 2021 at a reduced incentive of $15,000.
The HomeBuilder and Building Bonus grants have now ended, but there are still plenty of other grants available. Make sure to ask your lender about any extra support you can receive – because it all goes a very long way.