Home Builders Grant 2020 - $69,000 for your new home

Both the Federal and West Australian Governments have revealed two new housing grants available for select home builders - and there is no better time than now to take advantage of these stimulus packages. Let's break down each of these newly announced grants and see what they entail and who qualifies.

  • WA State Government's Building Bonus Package - $20,000
    • Entitled to anyone who EITHER builds a home on a vacant plot of land OR enters into an off-the-plan contract to buy a new home in a single-tier strata scheme before construction is complete.
    • Entitled on building contracts entered between June 4th and December 31st 2020.
      • Construction must start within six months of the commencement of the contract.
    • Not means-tested.
    • No property value cap.
    • Package is available to:
      • Both owner-occupiers and investors.
      • Both Australians and foreigners.
        • Australians do not need to be living in WA
    • One grant will be paid per vacant lot, NOT per home built on a vacant lot.
    • The same applicant can apply for multiple grants on separate transactions.
    • Package is not available for mixed use, commercial use, or short stay accommodation.


  • Federal Government's HomeBuilder Package - $25,000
    • Package to be used for EITHER building a new home OR making significant renovations on an existing home.
    • Package is available to:
      • Australian citizens ONLY.
      • Income cap of $125,000 for individuals OR $200,000 for couples.
    • Entitled on building contracts entered between June 4th and December 31st 2020.
      • Construction must start within six months of the commencement of the contract.
    • For home builders, property value must not exceed $750,000.
    • For renovators, renovation of property must be worth between $150,000 and $750,000, with value of property not to exceed $1,500,000


Those eligible for both of these packages could see $45,000 coming their way that they can use for their next home - but it doesn't end there. Those eligible for the $10,000 First Home Owner Grant AND the First Home Buyer Stamp Duty Concession can combine all of these grants together to acquire up to a staggering $69,000 for use to get their first home! This is a massive development in the housing industry here in WA, and we believe this will allow for more people to get themselves into the homes they want. 

If you're interested in learning more about how you can benefit from these packages, get in touch with our mortgage consultant Karl today on 0408 877 366.

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