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$25K Home Renovation Grant - What you need to know

$25K Home Renovation Grant - What you need to know

The team at Balnei & Colina renovations have been renovating homes in Sydney for over 20 years. Our passion comes from creating spaces that change the way people live in their homes. 

Whether it be a kitchen renovation, bathroom renovation, or custom joinery solution we’ve got every room in your home covered and, with the recent announcement from the Australian government regarding the new HomeBuilder scheme, this may be an opportune time to kick-start that renovation you’ve been planning.

With the Australian Government helping to boost the construction sector through the provision of a $25K grant, there has never been a better time to undertake a home renovation project.

Eligible Aussie Home owners will be provided with a grant of $25K to build a new home or renovate an existing one. Housing Minister Michael Sukkar said  - ‘Our advice from the industry and Treasury is this will be the catalyst for many thousands of Australians to make that decision to embark upon a renovation.”

There are some terms however, so the team at Balnei & Colina renovations have prepared a simple guide to the HomeBuilder Scheme. We hope it provides you with the information you need, to take the next step in your home renovation journey. 

Robert Fonti

Director, Balnei & Colina Renovations

Kitchen Renovation Sydney by Balnei & Colina

$25K Boost for Aussie Home Renovators

In summary, here’s what you need to know:

1) PRINCIPLE HOME

Principle Place of residence - the renovated home must be your principle residence.

 

2) MEANS TESTED

Means Tested - HomeBuilder Grant is means tested and available to:

  1. Individuals with income up to $125K
  2. Couples with combined income up to $200K

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3) AVAILABLE FOR A LIMITED TIME

Grant Available for 6 Months Only - Contracts must be entered into between now and Dec 31st 2020 and work must commence within 3 months of the contract date. 

 

4) RENOVATION BUDGET

Renovation value must be between $150K - $750K.

 

5) FUNCTION

Improve Liveability - The renovation must be “to improve the accessibility, safety and liveability” of the home and can include a combination of work including a kitchen renovation, and bathroom renovation.

 

6) HOME RENOVATION SPECIALIST

All work must be carried out by a licenced contractor.

 

7) HOME VALUE

Home Value - Subsidy is only available to homes valued less than $1.5mil

 

Bathroom Renovation Sydney by Balnei & Colina

 

$25K Grant Exclusions

  • Structures Seperate to the main property being renovated including swimming pools, tennis courts or sheds.

 

How will the Grant be paid?

The scheme will be administered by the various state/territories and payment of the grant will be paid to eligible renovators when they make their first progress payment.

Prime Minister Scott Morrison could not have said it better - “If you’ve been putting off that renovation or new build, the extra $25,000 we’re putting on the table, along with record low interest rates, means now’s the time to get started.”

Kick-start your home renovation today by booking a design consultation with a Balnei & Colina home renovation specialist on 1300 450 320 or send us your project details via this contact form

To keep up with the latest news simply sign up to our newsletter.

For further information and updates about the governments $25K Grant visit Australian Government’s Treasury Dept HomeBuilder website.

 

Home Office Custom Joinery by Balnei & Colina

If you have any further questions, please contact us direct on 1300 450 320, via email info@balneiandcolina.com.au or via our website balneiandcolina.com.au

Balnei & Colina is a home renovation service company based in Sydney. We specialise in kitchen renovations, bathroom renovations and custom joinery solutions for residential homes. 

For more information about our kitchen renovation, bathroom renovation or custom joinery services please visit us at balneiandcolina.com.au or connect with us via Facebook and Instagram.

 

Image via Getty

 



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