First Home Buyers
As a First Home Buyer you need to be aware of the risks and benefits of buying and owning property. One of the first things to understand is the ability to apply for a First Home Owners Grant.
First Home Owner Grant (FHOG)
The First Home Owner Grant was introduced by the federal government to assist people in buying their first property. The amount of the grant differs for each state and territory and can depend on the loan amount and value of the property. The First Home Owners Grant Boost and other additional supplements may also be available depending on your state and situation.
Am I eligible for a first home owner’s grant?
Generally speaking, you will be eligible for the first home owner’s grant if neither you or your spouse (or any other person who is buying the house with you) have owned a home nor claimed the grant previously; are buying a house that you intend to make your principal residence. You can easily find out whether or not you are eligible for a first home owner grant by going to www.firsthome.gov.au where you will also be able to download an application form.
Additionally, each state has further concessions and grants to make it easier for first time buyers. You will find details on each state government’s website.
VIC NSW WA QLD SA NT ACT TAS
There is also a link from www.firsthome.gov.au to these sites. We’ll be happy to help you claim your full entitlements when you apply for your home loan.
Applying for the First Home Owners Grant
At this stage you have two options:
- Apply yourself - The grant will go direct into your own account at settlement.
- Apply via a lender - Your lender will handle the application from start to finish, and the funds will be available at settlement.
To make sure things run smoothly remember to have all the following paperwork to supply:
- FHOG application form – this must be the original, not a copy or fax.
- Certified contract of sale.
- 100 Points of certified I.D. Specific ID documents may be required depending on your state.