First Home Owners Grant
If you’re fed up of searching high and low for information about the first home owner’s grant – then look no further. Rather than directing you to different places, we thought that it might be easier to neatly list the main factors right here on this very page!
So, without further ado, let’s dive in and learn about what the grant is, how you could stand to benefit and what you may be eligible to receive.
All about the first home owner’s grant (FHOG)
What is the FHOG?
In a nutshell, it’s a grant available to residents of Australia that meet certain levels of criteria. With it, you could enjoy a comfortable sum to go toward the cost of your first home; whether you’re buying a re-sale, or considering having a new property built.
How much can I receive?
If you are having a new home built or buying a property with a value up to $750,000, then you could be eligible for the grant!
And if you are, the amount could be up to a whopping $20,000 in and around Victoria. If you’re outside of the region, then you might still be eligible to receive $10,000 instead.
What are the criteria?
These factors are wide and varied, but generally speaking you will need to be a resident of Australia, own no other homes and have an income of less than a pre-defined sum.
There are concessions in place to provide financial support for a wide variety of applicants and so finding out which one you are eligible for can be a good place to start.
How can I find out?
There are 6 concession options available including those that are ideal for first time home buyers.
A mortgage broker can offer more advice and guidance on this matter, but if you fall into the aforementioned criteria then you should be eligible to at least apply.
And if you are successful, you could receive up to $20,000 toward your first home – so what’s the harm in getting in touch with an expert to know for sure?