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Licensed Valuation for the HomeBuilder Government Grant

Posted on

July 27, 2020

Matt Garmony

HomeBuilder Grant Valuations – How the Licensed Valuers at Garmony Property Consultants can help

The Australian Government HomeBuilder provides eligible owner-occupiers with a $25,000 federal government grant to build a new home or substantially renovated an existing home. One of the requirements of HomeBuilder is to obtain a written valuation by a licensed valuer of the existing value of your home. This is know as the Market Value “As is”. The licensed valuers at Garmony Property Consultants can provide you with a Licensed Valuation for the HomeBuilder Government Grant application of the existing value of your home or vacant lot.

To access the $25,000 grant you need to meet the following eligibility criteria;

  • you meet one of the following two income caps:$125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or $200,000 per annum for a couple based on both 2018-19 tax returns or later;
  • you enter into a building contract between 4 June 2020 and 31 December 2020 to either:
  • build a new home as a principal place of residence, where the property value does not exceed $750,000; or
  • substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property does not exceed $1.5 million;
  • construction must commence within three months of the contract date.

HomeBuilder will be implemented via a National Partnership Agreement, signed by the Commonwealth and State and Territory governments. See the Fact_sheet_HomeBuilder

Part B of the Western Australian Government Application Form requires the homeowner to provide a Licensed Valuation for the HomeBuilder Government Grant of the existing value of the property and attached a copy of a valuation prepared by a independent licensed valuer.

The licensed valuers at Garmony Property Consultants have been providing valuations of residential properties in the greater Perth metropolitan area for over 36 years. Please contact us for a quote by clicking here or by calling 9474 2220 to speak to one of our helpful staff.

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