About 25,000 new home builds and renovations are expected from $688 million HomeBuilder program, and the prospect of getting your dream bathroom renovation is also an option, even if it needs to be a large Asian wash-house to meet the budget of the project.

Treasurer Josh Frydenberg says the government is expecting between 25,000 and 30,000 new home builds or significant renovations as a result of the $688 million HomeBuilder program, and we’ll be happy to work with you to conceive a magnificent renovation which might include both bathroom and kitchen for instance.

Under the plan, Australians will be offered $25,000 to build or substantially renovate a home in a bid to boost the Covid-19-affected construction industry, which has reputedly “hit the wall” following a coronavirus-induced government-engineered economic downturn.

The scheme will only run until the end of 2020 and is means-tested for singles who earned up to $125,000 in the previous financial year, and couples who earned up to $200,000 between them. In other words, it’s typically not much use to people who are in poverty or close to poverty because they’re stuck renting and cannot afford to get off the rental treadmill and buy their own home. Sad, but this is the LNP making this initiative, so of course they’re focussed on supporting their main base, the middle and upper classes of Australian society.

Participants must enter into a building contract between July and December 2020 to either build a new home as a principal place of residence valued up to $750,000 including land, or those planning to substantially renovate their existing home as a principal place of residence, can access the grants for renovations valued at between $150,000 and $750,000 with the home not valued at more than $1.5 million before the renovation.

Mr Frydenberg told ABC News Breakfast that it would be “important to fill that void we see in the economy as a result of the pandemic”.

Anthony Albanese’s response: the $688 million HomeBuilder program a ‘very narrow’ package.

Opposition Leader Anthony Albanese fears the federal government’s $688 million HomeBuilder program will not cover enough homes or create enough apprenticeships.

The federal government last night announced Australians will be offered $25,000 to build or substantially renovate a home in a bid to boost the flagging construction industry.

“It’s something, that’s good,” Mr Albanese said. “But it’s restrictive.”

Prime Minister Scott Morrison has defended the caps on the size of HomeBuilder renovations.

#Scomo has defended caps on the size of renovations under the government’s new HomeBuilder package as necessary to avoid a repeat of the Rudd government’s much maligned home insulation program.

The $688 million package aims to spark a “tradie-led recovery” and to boost a building sector impacted by the coronavirus.

Mr Morrison told Brisbane radio station 4BC it was necessary to cap the renovations between $150,000 and $750,000 to avoid a situation where the grants could be taken advantage of and to ensure they were spent on major projects.

Hence we hope a bathroom renovation might just be your thing, and we’re confident we can give you the project you need.

Source: https://www.smh.com.au/politics/federal/new-homebuilder-package-aims-to-safeguard-jobs-of-a-million-tradies-20200603-p54z7w.html