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BUYING MY FIRST HOME

Am I Eligible For The Government First Home Buyers Grant?

First Home Buyers Grant
The First Home Owner Grant (FHOG) scheme was established to encourage and assist home ownership and to offset the effect of the GST on home ownership by providing a grant to first homeowners.

The FHOG is not means-tested nor is it restricted by the purchase price of the property.

How much is the First Home Owners Grant?

A payment of up to $7000 will be payable to eligible first home owners to assist with their purchase or construction.

First Home Bonus

In some states such as Victoria, if you are eligible to receive the FHOG of $7000, you may also be entitled to receive an additional payment of $3,000 or $5,000 (subject to meeting certain requirements),

The basic criteria for eligibility for the FHOG are:

• Eligible applicants must be Australian citizens or permanent residents, who are buying or building their first home in Australia. Requirements vary between States to determine eligibility so for full information, check the Government website www.firsthome.gov.au for details.
• Neither the applicant nor their spouse (or de facto) may have owned a home before -  either jointly, separately or with some other person.
• An eligible home must be located in Australia and will be a new or established house, home unit, flat or other type of self contained fixed dwelling that lawfully can be used as a residence.
• An eligible home must be occupied by the applicant(s) as their principal place of residence within 12 months of settlement or completion of construction of the home. There are minimum periods of occupancy required by each State & Territory.
• Application for the grant must be made within 12 months of completion of construction or settlement of the home.
• Assistance will not be means tested.
• The grant is Tax free.
• Joint applicants will be restricted to a single application for a single property and only one payment of $7,000 will be made.