Your next home renovation can be closer than you think. If you have some money saved, the federal government of Australia can help you with the costs. The HomeBuilder grant is a $25,000 grant to help home builders and renovators.
With the construction industry in Australia suffering a hit after the pandemic, the $668 million plan from the Property Council of Australia is meant to help startup construction again and revitalize the economy.
You can renovate your home or build a new principal home with this amount. While you have to pay for the rest out of your pocket, $25,000 is no small feat.
How To Qualify
This new grant is more limited than many of the first home buyer grants offered by state governments. It’s meant for larger expenses and not minor builds or renovations such as patios, bathrooms, pools, or kitchens.
The renovation contract would have to be at least $150,000 but it may be a combination of works as long as it is supervised by a licensed or registered builder.
With the balance the grantee will be left to pay, this grant is most likely accessible to those with substantial savings or willingness to borrow.
This grant can only be given to those with building contracts between June 4, 2020, and December 31, 2020; and construction must start within three months of the contract date.
The federal government expects to fund about 25,720 prospects so if your major renovation is long overdue, it’s best to take your chance now.
Here are the other qualifications for the HomeBuilder grant:
- You must be a natural person (not a company or trust)
- At least 18 years of age
- An Australian citizen
- Meets one of two income caps:
- $125,000 per annum for an individual applicant based on your 2018-2019 tax return or later; or
- $200,000 per annum for a couple based on both your 2018-2019 tax returns or later
For the building contract, you can enter the contract any time this year until the 31st of December and it must be to either:
- Build a new principal place of residence where the value of the property (house and land combined) does not exceed $750,000; or
- Substantially renovate your principal place of residence, where the renovation contract is worth $150,000 to $750,000; and the value of the property (house and land combined) does not exceed $1.5 million.
Preparing For Your Renovation
Whenever there’s a renovation, there’s always waste to be discarded. Renovations, constructions, and related demolition jobs also add to the tons of waste for disposal.
Getting rid of your renovation debris and waste can be quite a headache without expert help. Develop a good waste management plan and you will have much less to worry about during the actual renovation process.
The best way to manage your renovation wastes is to make a list of the waste that will eventually go into it. Think of the types of materials that will go into it such as bricks, tiles, concrete, old furniture, and other items you think you will be throwing away.
Waste that is hazardous to your health and the environment may generally not be thrown into skip bins but you can contact manufacturers who have their own waste management plants.
Reference your renovation plan and you can easily forecast the size and number of skip bins you need to hire for the job.
If you would need to dispose of asbestos, consider a skip bin hire in Perth that is knowledgeable and licensed in managing asbestos waste.
Size of Your Skip Bin
The size of your renovation will reflect the size of skip bins you would need to hire for the job.
Skip bins generally come in small, medium, and large sizes. Here’s how to choose the right skip bin for your renovation project:
- 2m³ to 3m³ skip bins would work when you are just renovating one room. Small skip bins can provide ample disposal storage for small projects.
- 4m³ to 6m³ skip bins are ideal when renovating multiple rooms of a house. Based on the HomeBuilder grant, you will most likely need a skip bin around this size.
- 10m³ to 30m³ skip bins would work for bigger projects and sizable demolitions or when you’re building from the ground up. They’re best suited for heavy industrial work.
When choosing a skip bin hire in Perth, it’s best to work with one who will discuss your needs with you and can help you decide on the right skip bin.
Skip bin hires in Perth have varying availability and expertise in waste disposal. Choose the one that can be your best partner for your renovation job.
