The First Home Owner Grant (the Grant) scheme was established to encourage and assist home ownership and to offset the effect of the GST on home ownership.
The Grant is not means-tested nor is it restricted by the price of the property for contracts entered into prior to 1 January 2010.
For contracts entered into on or after 1 January 2010, the Grant will only be payable where the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.
For contracts entered into on or after 1 July 2013, eligibility for the Grant will be limited to buyers of new homes.
First homebuyer guidelines
Do I qualify for the First Home Owners Grant?
Are you an Australian citizen or permanent resident?
Are you buying or building your first home in Australia?
Do you intend to occupy the home as your principal place of residence within 12 months of the settlement?
Is this the first time you have applied for the FHOG?
If you answered YES to all of these questions, then you may be eligible to claim the first home owners grant.
-The First Home Buyers Grant is not payable for existing homes, though you may be eligible for a reduction on stamp duty.
-The First Home Owners Grant is subject to change, so please ask your experienced Homefree Mortgages broker for the latest updates when you are in for your free, no obligation consultation.