The Federal Government has announced a three months extension to its HomeBuilder program, which was due to expire on December 31, 2020..
Initiated by the Government on June 4, 2020 as an incentive for home owners to invest money on their properties and at the same time assist the struggling building industry at the height of COVID-19 in Australia, this initial HomeBuilder program has allowed grants of up to $25,000 for couples or individuals looking to renovate their homes.
To be eligible for the HomeBuilder grant, your property must be valued at $1,500,000 or less and you must spend $150,000 or more on your renovations.
All couples with a combined income of $200,000 or less (or singles earning $125,000 or less) are eligible for the grant.
The extension of the HomeBuilder program for three months from January 1, 2021, will drive further demand in the building and construction industry, protecting jobs by supporting the construction of new homes and also home renovations.
The only downside is that the maximum grant amount has been reduced from $25,000 to $15,000 after December 31, 2020.
Prime Minister Scott Morrison says that the extension is expected to lead to another 15,000 construction projects, bringing the total anticipated renovations or builds under the program to 42,000.
"It's critical we keep the momentum up for Australia's economic recovery," Mr Morrison said.
The Master Builders Association, of which Yes I Can Project Group is a proud member, lobbied the Government hard for the extension of the HomeBuilders Grant and we congratulate the Master Builders on their efforts.
“A strong building industry means a strong economy and the Government’s extension of HomeBuilder shows its ironclad guarantee to achieve economic recovery,” Master Builders Australia CEO Denita Wawn said.
Yes I Can Project Group is New South Wales’ fastest-growing and most innovative building company with almost 150 reviews at 4.8 stars or higher from happy customers.
Commenting on the extension of the HomeBuilder Grant, Yes I Can Project Group director Richard Dargham said: "I applaud the Government for agreeing to the extension as this is really good news for the building industry as the year end and the holiday period approach.
“$15,000 is still a massive help for home owners looking to undertake renovations and we will certainly be doing our bit in 2021 as well, as we will be offering our customers additional discounts and cashbacks to further stimulate the community.”