Those looking at building a home or undergoing substantial renovations can now apply for $25,000 grants from the federal government.
Prime Minister Scott Morrison has unveiled the new Homebuilder program, which will make grants available to those who were looking to build or significantly renovate over the coming months.
It’s understood the project needs to be worth at least $150,000, and it can’t be used on a new pool or separate garage.
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The grants will be made available until the end of the year, costing a total of $668 million, which the Treasurer predicts will help fund between 25,000-30,000 projects around Australia, boosting jobs in the construction industry in the short and long term.
Scott Morrison says these grants will go a long way in helping the economy recover from coronavirus.
“$25,000 to support those families and those Australians whose dream it was to build their home, or to do that big renovation, a dream that they thought might have been crushed by the coronavirus.
“Well, we’re here to tell them that we’re going to keep that dream alive for them. And the dream alive of the jobs for the builders, the apprentices and the tradies who depend on this critical industry right across the country.
“In our regional cities and our towns, in suburbs like where we are today, this is good news.
“It is good news because it shows the Government understands the challenges that we face in rebuilding our economy, both the short-term challenges of keeping industries like this going, but also the longer-term challenges,” Morrison said.
It’s understood the grants will be made available through the state governments.