The First Home Owner Grant (scheme) was established to assist eligible first home owners to purchase a new home or build their home by offering a grant. The grant amount is determined by the date of the eligible transaction and each state has different rules and regulations.
What is stamp duty?
Stamp duty is a charge which is applied by state governments in Australia and is in relation to the transfer of land or property. The State Government charges may vary depending on the purpose of the property purchased.
What should I look for in a neighbourhood?
To determine the right neighbourhood for you, consider your pace of life - are you young and is the proximity to friends and entertainment important or are you looking for a quieter suburb. If you have family plans consider schools, transport and amenitites and safety of suburb. Consider where you work and the daily commute.
Who is eligible to receive the first home owner grant?
To qualify for the first home owner grant you must meet the following criteria: each applicant is a person and not a company or trust, the applicant is a permanent resident or Australian citizen. Each applicant must be 18 years of age or above. All applicants and / or their spouse / de facto, have not owned a residential property, jointly or separately in any state or territory of Australia before July 2000. Each applicant must have entered into a contract for the purchase of a home and the total value of the home does not exceed the cap amount for eligible transactions (different in each state). Must also be the first time an applicant/spouse or defacto will receive the grant and that at least one applicant will occupy the home as their principal place of residence for a continuous period of 6 months commencing within 12 months of purchase.
How can I work out the budget I can afford to buy a home?
Talk to us, we can help assess your current earning and assets and develop a plan with you.