First Home Owner Grant - everything you need to know
Who is eligible?
A $10,000 First Home Owner Grant is available when buying or building your first new home.
What is a first new home?
It is a new home if no-one has lived in it before.
It can be a house, townhouse, apartment, unit that is newly built, purchased off the plan or substantially renovated.
What else should you know?
There are a few intricacies in the requirements. However, here are the key take aways for you:
The maximum property price for a newly built property is $600,000.
You must live in the property as your principal place of resident for at least 12 continuous months.
You have never owned a residential property, either jointly, separately or with some other person before 1 July 2000 in any state or territory of Australia.
You and your spouse/partner have never occupied a residential property for a continuous period of at least six months in which they acquired a relevant interest on or after 1 July 2000 anywhere in Australia
Contact us if you would like to know more.
