By Melissa Clarke | 10 July 2020
I’ve been hearing about this $20,000 Building Bonus Grant on offer until December 2020, and decided to find out the facts, because if you’re anything like me, $20K sounds like a great deal!
Back in early June, Premier Mark McGowan, announced that in an effort to support and maintain our building and construction industry throughout the economic challenges of the COVID-19 pandemic, the WA Government would be introducing “$20,000 Building Bonus grants for any Western Australia to build a new house or purchase a property in a single-tier development already under construction”.
“The grants will not be means tested and have no cap on the property value. This grant is on top of the Federal Government’s HomeBuilder Grants as well as the WA’s First Home Owner Grants and first home buyer duty concession.”
What does this mean, well if you are a person who qualifies for all four grants, you could access up to $69,440 in Government assistance to help you build your dream first home!
These grants are being implemented for contracts signed between 4 June 2020 and 31 December 2020. The hope is that by doing this, the Government will help get as many new projects off the ground and will help keep as many WA jobs intact as possible.
Construction on the building contract must start within the 6 months, which is different from the Federal Government HomeBuilder Grant which requires construction to start within 3 months.
You can even access this grant when you sign a building contract on a property you already own.
The grants and rebate schemes are available for owner-occupiers and investors, Australian-citizens and foreign persons, and natural persons, corporations and trustees. You do not need to be living in WA to access the grant.
When can you apply for this grant?
For a new home on vacant land (new detached dwelling) – apply when construction has started (foundations complete).
For new single-tiered dwellings such as villas and townhouses – apply when you are the owner of the property (registered on the certificate of title)
What properties are eligible for the grant?
What properties DON’T qualify for the grant?
Now you’re armed with all the facts, why not get in touch with us to find out how we can help you take the next step towards owning your own home.
Contact Andrew Mackenzie, our friendly Estate Sales Manager on 0419 904 790 or email@example.com or visit our website www.spatialproperty.com.au