If you haven’t heard of the Regional Home Building Boost and you’re in the process of buying or building your new home, it’s worth finding out more about it.
At Michael Hoare Builders, our goal is to make every aspect of your home build as straightforward as possible and this is why we’ve put together this simple guide to the ins and outs of the Regional Home Building Boost. We explain what the grant is, how to apply and how to make sure you maintain eligibility.
What is the Regional Home Building Boost?
This grant is an initiative developed by the Queensland government to help homeowners take up occupancy of their new homes more quickly. After you’ve bought or built your home, you could receive a grant of $5,000 on a property with a value of up to $750,000. It’s money that will come in handy for furnishings, legal costs, decoration or hiring a team of removalists. However you choose to spend the money, one thing’s for sure, it’s definitely worth having.
How do I know if I’m eligible for a Regional Home Building Boost?
To be eligible to receive the grant, you must meet the following criteria:
- You must have a contract to buy or build a new home dated between 4 June 2020 and 31 March 2021. This includes a substantially renovated home.
- If you are an owner builder and you are building a new home, your build must have started between 4 June 2020 and 31 March 2021.
- You must be at least 18 years of age.
- You must be an Australian citizen, a permanent resident or be applying alongside someone who is.
- This must be your, or your spouse’s first Regional Home Building Boost.
- You must be using the grant for buying or building a brand-new home.
- You must be buying or building a brand-new home with a value of less than $750,000, including land.
- You must take up primary residency within one year of completion.
- You must live in the home for a continuous period of six months after receiving the grant.
- You must be buying or building in the regional Queensland area.
How to make sure you don't lose your Regional Home Building Boost
It’s important to make sure you follow the residency criteria set out above. If you don’t move in within one year of completion, and if you don’t live in the property for a continuous six-month period after completion, you must let the local authority know within 14 days. You may have to return the grant if you do not meet the required residency criteria.
Get in touch
To find out more about how you could benefit from the Regional Home Building Boost, just get in touch with us here at Michael Hoare Builders. You can complete our contact form give us a call on 0409 563 123 or come to see us at 27 Swan Street, Gordonvale, QLD 4865. We’re open Monday to Friday from 8 am to 5 pm.
