HomeBuilder Scheme and what it means for you

The grant announced this week (tagged the HomeBuilder Scheme) puts $25k on the table for owner-occupiers to build a new home or do a substantial renovation of an existing property.

It is great news for the economy as a whole as it shows signs that the Government simply will not allow the Australian housing market to crash (like so many dooms dayers are suggesting).

Here is a quick upshoot of the scheme:-

The catch for most Australians is:

  1. Investors don’t qualify.
  2. Households must earn less than $200k.
  3. Apartments don’t qualify.

The silver lining for Australians is:

  1. It ends the uncertainty of the last two weeks, so investors will continue moving ahead with prior plans.
  2. It will to some extent support home prices in new land estates.

Channel 9 put together this great explanatory image to help Australian’s understand the scheme:

Source: Channel 9

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