Scomo’s New Reno Rebate – Are you eligible for the $25,000?

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On Thursday, the Australian Government announced it’s new ‘Home Builder Grant’,  which will see Australian’s all across the country eligible for a $25,000 grant for new homes or substantial renovations.

Below we’ve detailed who is eligible, when does the scheme take place, and everything else you need to know to get access to the grant.

10 Lynwood Place Castle Hill Hi Res 19 1
Scomo’s New Reno Rebate - Are you eligible for the $25,000? 3

Who is eligible?

  • Owner-occupiers – Investors are not eligible.
  • Be an Australian citizen, not a company or trust.
  • Earn up to $125k for singles, or $200k for couples based on 18-19 tax return
  • Renovations on houses valued at under $1.5m, or new homes under $750k including land

When is it happening?

To be eligible, contracts must be signed before December 31st, 2020. Building must commence within 3 months of exchange of contracts 

29A Albert Road Beecroft Hi Res 24 1
Scomo’s New Reno Rebate - Are you eligible for the $25,000? 4

What exactly can the money be used for?

The grant can be used for ‘substantial’ renovations to your home, with renovations having to be valued between $150k – $750k. The renovations can be a combination of things, such as a bathroom, bedroom and additional story, however renovations can only be completed if it is attached to the main residence EG: Pools, sheds, tennis courts, cannot be included

Where can I get more info?

If you’d like to have chat to our team to see if we can assist please use our contact forms, or give us a ring. We’d love to help you create your new home!

Simply fill in the form for a FREE Quote

SBS Building Services are Sydney builders specialising in ground floor and second story extensions, home renovations and outdoor living areas. We offer a complete service from concept plans to the completion of your project, including all council requirements. With over 25 years experience, our dedicated and professional team can help you create your ideal home and lifestyle.