First Home Owners Grant Scheme (FHOG)
On October 14th 2008, the Federal Government tripled the First Home Owners Grant to $21,000 for newly constructed properties and doubled the grant to $14,000 for extablished properties. These increases are for a limited time only and will apply to contracts entered into between 14 October 2008 and 30 June 2009.
The time-specific nature of the grant is another reason why now is a great time to buy your first home, talk to your local mortgage broker and ensure that you take advantage of the first home owners grant boost.
Applying for First Home Owners Grant and Additional State Benefits
In addition to the First Home Owners Grant, there are a number of state based concessions that you may be entitled to. Your local mortgage broker can help you determine your eligibility, explore your home loan options and even help complete paperwork. Simply call 13 LOAN ( +61 2 9249 3739 direct) at any time or email us the form below and we will return your call within 2 business hours.
First Home Owners Grant Eligibility Criteria (Federal Government)
To qualify for the First Home Owners Grant, you need to satisfy the following criteria:
- The application must be made within 12 months of completion of construction or settlement of the home.
- You or a joint applicant must be an Australian Citizen or permanent resident. Requirements vary among states and territories regarding the number of applicants who must be an Australian citizen or permanent resident and age of the applicant.
- You must be buying or building your first your first property as a person, not as a company or trust .
- You or your spouse must not have previously owned an interest in land in Australia that had a residence on it prior to July 1, 2000 .
- You or your spouse must not have owned and occupied a home after July 1, 2000 .
- If you have purchased investment property(ies) after 1 July 2000 as long as you have never owned property before 1 July 2000 and have never lived in the investment property(ies), you should eligible .
- Neither you or your spouse must have claimed this grant previously .
- Entering into a building, in the case of owner-builders, must have occurred on or after July 1, 2000 .
- An eligible home must be located in Australia and be a new or established house, home unit, flat or other type of self-contained fixed dwelling that lawfully can be used as a place of residence.
- An eligible home must be occupied by you as your principal place of residence within 12 months of construction of the home. There are minimum periods of occupancy required by each state or territory.
- Joint applicants are restricted to a single application for a single property and only one payment of $7000 is made.
Additional State Government Benefits and the First Home Owners Grant
Each state in Australia offers additional grants or duty relief to first home buyers. To get more state-specific information about the First Home Owner Grant or to obtain application forms, please select the state or territory, in which you intend to purchase your home:
More information or help
For confidential assistance with your home loan or to talk to your local mortgage broker, call us at any time on 13 LOAN or call our direct line on +61 2 9249 3739.
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