To access the scholarship, applicants must pay a licensed builder the first installment to start work. They can then apply for the HomeBuilder stimulus through their state or territory's revenue office. HomeBuilder owners and those looking to build a new home that will be used as an investment property, or renovate an existing home that is an investment property, will not be eligible for HomeBuilder. HomeBuilder awarded individuals and couples a grant to build or purchase a new home or substantially renovate an existing home that they will own and occupy.
HomeBuilder supplements the First Home Owner (New Home) Grant Plan and the Revenue NSW First Home Buyer Assistance Plan.