HomeBuilder scheme: Are you eligible for the Government’s $25,000 cash grant?

By Niko Iliakis ·

Eligible Australians will receive $25,000 cash grants to cover home building or renovation, in an effort to turbocharge the construction industry and build 30,000 homes by end of year.

The $688 million HomeBuilder program is expected to support 140,000 direct construction jobs - along with a further 1 million workers in the residential building sector - which risk disappearing once projects already in the pipeline wrap up.

The one-off payments will be available to individuals making less than $125,000 a year and couples making less than $200,000, and are to be used for new builds valued up to $750,000 or renovations worth between $150,000 and $750,000.

“If you’ve been putting off that renovation or new build, the extra $25,000 we're putting on the table, along with record-low interest rates, means now's the time to get started,” said Prime Minister Scott Morrison.

"This is about targeted taxpayer support for a limited time using existing  systems to ensure the money gets used how it should by families looking for that bit of extra help to make significant investments themselves.”

The announcement comes after weeks of lobbying by industry bodies for the Government to throw its support behind Australia's home builders and tradies. 

CEO of Master Builders Australia Denita Wawn came out in support of the program today, saying it’s a necessary step towards revitalising a struggling construction industry and kickstarting the economy.

“HomeBuilder will be a lifeline for an industry facing a valley of death in the coming months. It will mean more new homes, more small businesses and jobs are protected and provide a stronger bridge to economic recovery for our country,” she said.

“Residential building activity gives back more than double to the communities that sustain it with every $1 invested in home building activity providing $3 to the wider economy.

“This means that HomeBuilder will provide a boost for thousands of tradies; the cafes, pubs, and ute dealerships that they frequent; as well as the thousands of building supply businesses that depend on the industry.”

What exactly is on offer?

The HomeBuilder package is restricted to owner occupiers who are planning new builds or substantial renovations. 

The grants can be used on new homes valued at under $750,000 (including land), or on renovations worth between $150,000 and $750,000, so long as the pre-renovation value of the property is below $1.5 million.

According to the Morrison government, construction must commence within three months of the contract date.

Investment properties are not eligible for the subsidy, and neither are outdoor fixtures like swimming pools, tennis courts, spas, sheds or garages.

Another requirement is the involvement of builders. Owners won’t be able to receive the payment if they intend on building or renovating on their own.  

Finally, as mentioned above, the grants will be limited to individuals earning less than $125,000 per year and couples earning less than $200,000 per year. 

For options on how to fund your renovation or build head over to Mozo's refinance section to compare deals.

Home loan comparisons on Mozo - page last updated October 24, 2020

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure.

I want to borrow


  • mozo-experts-choice-2020

    2.48% p.a. variable

    2.50% p.a.

  • mozo-experts-choice-2020

    2.09% p.a.
    fixed 2 years

    2.98% p.a.

  • mozo-experts-choice-2020

    2.34% p.a. variable

    2.34% p.a.

  • 2.54% p.a. variable

    2.81% p.a.

  • mozo-experts-choice-2020

    2.49% p.a. variable

    2.49% p.a.

Picture of Steve Jovcevski

Talk to a Mozo home loans expert

Buying your first home, refinancing your existing home or thinking of investing? Speak to Steve, our home loans expert today!

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

**Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loans Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.