HOME BUILDER GRANT FACT SHEET - $25,000 and how to make it work for you! - Esq Penrith
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$25,000
HOME BUILDER GRANT
FACT SHEET
and how to make it work for you!
Artist Impression
Did you know...
the Homebuilder Grant
can be applied to
off-the-plan apartment
purchases?
The sales team at East Side Quarter are here
to help navigate you through the application
and claim your $25,000.
Here’s a summary of what you need to know.
Eligibility
The Grant is available to individuals or couples who will be
registered as the owner on the certificate of title.
Each person must be:
• a natural person (not a company or trust)
• over the age of 18
• an Australian citizen
Applicants annual income must be below one of the following
income caps:
• $125,000 for an individual, or
• $200,000 for a couple
Applicants must not have previously received the Grant for any
other property.
Applicants must live in the home as their principal place of
residence for a continuous period of at least 6 months upon
completion of construction.
The Grant is available for off-the-plan apartment sales where the
eligible contract price does not exceed $750,000.
An eligible contract is one which has been signed between
4 June 2020 and 31 December 2020
Applications
Applications must be received no later than 31 December 2020.
Your application can be lodged on-line after an eligible sales con-
tract has been entered into.
Construction must begin within three months of the date of signing
the sales contract.
Once construction begins, any supporting documentation can be
lodged via the on-line portal.
Payment of the Grant
The Grant will be paid directly to the applicant’s nominated bank
account after:
• all eligibility criteria have been met
• all supporting documentation provided, and
• evidence is submitted showing that the property has been
registered in your name on the certificate of title.
The Applicant’s name must be on the certificate of title by no later
than 31 October 2022.
More Ways to Save for First Home Buyers
The Homebuilder Grant complements other existing Revenue NSW
grants and schemes to assist eligible First Home Buyers.
The First Home Owner’s Grant (New Home) Scheme is a $10,000
grant payable on purchase of a first home under the $750,000 cap.
The First Home Buyer Assistance Scheme allows eligible First Home
Buyers to claim exemption from Transfer Duty (previously known as
Stamp Duty). This could amount to a maximum saving of $31,000
on a first home purchase under the $800,000 cap.
Eligible First Home Buyers can also take advantage of the New
Home Guarantee, by purchasing with only a 5% deposit. The
Government will guarantee a further 15% deposit to the Lender,
essentially saving the purchaser from paying Lender’s Mortgage
Insurance (LMI).
First Home Buyers:
Purchase a 1-bedroom
apartment at ESQ valued
at $460,000 and you
could save up to
$63,000 in grants
Save Up To
Homebuilder Grant $25,000
First Home Owners Grant $10,000
First Home Buyers Assistance Scheme $16,000
(Exemption from Transfer Duty)
New Home Guarantee $12,000
(Based on a 5% deposit)
TOTAL POSSIBLE SAVINGS: $63,000
SIMPLE STEPS TO $25,000
How to claim your Homebuilder Grant
NOV 2020 NOV 2020 DEC 2020
CHOOSE YOUR SIGN BEGIN HOMEBUILDER
APARTMENT CONTRACTS APPLICATION
Pay a refundable Exchange contracts Via on-line portal, provide
$2,500 deposit to secure and pay 10% deposit. Sign personal details, including
your apartment while between 4 June 2020 and bank account you would like
contracts are drawn up. 31 December 2020 to be eligible. your $25,000 cash paid into.
The contract price must Construction must commence
be less than $750,000. within 3 months of the contract
date.
1 2 3
OCT 2022 OCT 2022 MAR 2021
SETTLEMENT & CONSTRUCTION PAY TRANSFER
TRANSFER OF TITLE COMPLETE DUTY
Certificate of Title required as a Occupation Certificate Payable within 3 months
supporting document to claim granted. of the date on your sales
Homebuilder Grant. Name must contract.
be on title before 31 October
2022. Normally the Certificate
of Title is issued 7-10 days after
settlement.
6 5 4
OCT 2022 NOV 2022
COMPLETE HOMEBUILDER HOMEBUILDER GRANT DECIDE HOW TO USE
APPLICATION APPROVAL YOUR $25,000!
Upload supporting documents Revenue NSW will notifiy
to prove ownership of property. applicants in writing, usually
within 15 working days of
receiving a completed
application and supporting
documents, advising whether
the claim is approved or
disapproved.
7 8 9
Full terms and conditions of eligibility criteria and required supporting documents can be found at:
https://www.revenue.nsw.gov.au/grants-schemes/homebuilder“Now I know what I can save, how much will it
cost me as a First Home Buyer and what can I
expect my mortgage repayments to be?”
Based on Typical Based onTypical Based on Typical
1-Bedroom Apt 2-Bedroom Apt 3-Bedroom Apt
priced at $460,000 priced at $600,000 priced at $950,000
OUTGOINGS
Select an apartment and pay a $2,500 $2,500 $2,500
refundable holding deposit:
10% deposit (minus holding deposit) $43,500 $57,500 $92,500
payable 14 days after signing contract:
Transfer Duty $0 $0 $38,085
(formerly known as Stamp Duty):
Initial Outgoings: $46,000 $60,000 $133,085
Eligible First Home Buyers are exempt from Transfer Duty on purchases up to $800,000.
If you are eligible for the $25,000 Homebuilder Grant , this is payable upon settlement.
If you are eligible for the $10,000 First Home Owner Grant, this is also payable upon settlement.
Chat to our knowledgeable sales team on 1300 181818 to find out how you can take advantage of these amazing
financial opportunities.You can also read
