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The advent of the global COVID-19 pandemic has resulted in the government issuing a number of stimulus packages (grants) aimed at boosting the construction industry. From Stamp Duty incentives for off-the-plan buyers, and the Homebuilder grant for those looking to upgrade their property, to the WA State Grants for new home constructions and the long-standing First Homeowners Grant, there has never been a better time to take advantage of what the government is offering.

At C&R Settlements, we’ve received hundreds of enquiries about these grants, so we thought we’d compile a list of FAQs to answer your questions.

Is it true I can get up to $55,000 to build a new home?

The answer is, yes. If you’re building a new home in WA you could qualify for one, two, or all three of the available grants. Depending on your eligibility you could access:

  • $10,000 First Homeowners Grant
  • $25,000 HomeBuilder Grant (Federal Government)
  • $20,000 Building Bonus (WA State Government)

What’s the eligibility criteria for the $15,000 HomeBuilder Grant?

If you are considering applying for the HomeBuilder grant, you must be over 18, apply as an individual (not a company or trust), be an Australian citizen and earn less than $125,000 per year (individual) or $200,000 per year (couple).

The grant stands at $15,000 for a contract signed between 1 January and 31 March 2021 (inclusive). The previous offer of a grant of $25,000 expired on December 31, 2020.

Applications for the grant must be lodged by 14 April 2021, and construction must commence within 6 months of the date of the contract.

I’m not buying my first home – can I still apply for the HomeBuilder grant?

Yes, the HomeBuilder Grant is available to first and subsequent homebuyers.

Can I use the HomeBuilder grant as an investor?

Unfortunately, no, as you must be an owner-occupier to access the grant.

Am I eligible for $20,000 Building Bonus?

To access the Building Bonus Grant, you must be over 18, be a natural persons, corporation or trustee, and be an Australian citizen, permanent resident or Foreign Persons.

Construction on your new home must commence within 6 months of signing your building contract. Premier Mark McGowan has extended this construction period until December 31, 2021

I’m not a first homebuyer, can I still access the WA State Government building bonus?

The Building Bonus Grant is available for both first and subsequent home buyers.

Can I use the Building Bonus grant as an investor?

Yes, the Building Bonus grant is available for investors.

If I’m a first homebuyer can I access more than one grant?

WA first homebuyers qualify for the First Homeowners Grant ($10,000) which, depending on your eligibility, you may receive along with the HomeBuilder and/or the Building Bonus grant.

I’m buying Off-the-plan – what grants can I get?

2021 is a fantastic year to buy off-the-plan, with excellent incentives from the government to purchase a brand-new apartment. You may be eligible for more than one of the following grants:

  • Stamp Duty Incentives
  • HomeBuilder Incentives
  • WA State Grants
  • First Home Owners Grant

Off-the-Plan Stamp Duty Incentives

The government is offering a 75% Stamp Duty Rebate Scheme of up to $50,000 for off-the-plan buyers.

Who is it for?
Investors, First Homebuyers, downsizers and owner occupier buyers.

What are the details?

You may be eligible to receive 75% off your stamp duty costs up to the value of $50,000 when a pre-construction contract is signed between 3 October 2019 and 23 October 2021 to purchase an off-the-plan apartment. See full terms and conditions.

When does it end?

You must sign a pre-construction building contract between 3 October 2019 and 23 October 2021. Construction must be completed within 36 months of the commencement of the pre-construction contract.

Is there a cap on the purchase price or value of the property?

There is no cap on the purchase price or value of the apartment.

Off-the-Plan HomeBuilder Incentives

The government is offering a grant of $25,000 towards the cost of purchasing an off-the-plan apartment.

Who is it for?

Investors, First Homebuyers, downsizers and owner occupier buyers.

What are the details?

From June 4, 2020, off-the-plan buyers and investors are eligible to receive 75% off their stamp duty costs up to the value of $25,000 to assist in purchasing a new residential unit or apartment currently under construction.

When does it end?

The contract to purchase a new unit of apartment must be signed between June 4, 2020 and December 2021. Construction must be completed within 36 months of the commencement of the pre-construction contract.

Is there a cap on the purchase price or value of the property?

There is no cap on the purchase price or value of the residential unit or apartment. See full terms and conditions.

Off-the-Plan WA State Grants

The government is also offering a $20,000 WA State Building Bonus Grant for eligible buyers and investors entering an off-the-plan contract to purchase a new residential townhouse or home as part of a single-tier development on a strata plan or other land survey type – it cannot be part of a multi-tiered development. See full terms and conditions.

Who is it for?

Investors, First Homebuyers, downsizers and owner occupier buyers.

When does it end?

Buyers must sign a contract to buy an off-the-plan contract between June 2020 and 31 December 2020. Construction must commence within six months of the contract date and you must provide evidence that construction has commenced. Extensions may be applicable and are determined on a case by case scenario.

Is there a cap on the purchase price or value of the property?

There is no cap on the purchase price or value of the residential unit or apartment.

Off-the-Plan First Home Owners Grant

This long-standing grant now comprises of a one-off payment of $10,000 and is available for first homebuyers buying off-the-plan. See full terms and conditions.

Why is now a good time to build?

Due to the events of the last year, and the ongoing economic ramifications of the global pandemic, interest rates are at an all-time historic low – making it the perfect time to apply for a loan or to refinance.

The WA Building Bonus and HomeBuilder grants are only available for a limited time, so explore your options now, before the grants are withdrawn.

Why use C&R Settlements?

Whether you’re a first-time home buyer, or an owner-occupier looking to take advantage of the fantastic building stimulus grants, it’s imperative all procedures are correctly carried out before you get to hold the keys in your hand and take ownership.

Contact us today for more information.