Will I qualify for a First Home Owners Grant (FHOG)?

First home buyers may be entitled to a range of government grants and concessions that vary according to which state or territory you are buying your home in.

The First Home Owner Grant (FHOG) is the main source of financial support for first home buyers. It’s a one-off, tax-free payment to people buying their first home in Australia however state and territory governments hand out the FHOG on behalf of the Federal Government so it’s worth checking how it works in your area.

Broadly speaking, the main conditions that determine eligibility for the FHOG in most – though not all – areas in Australia are set out below:

You must be an Australian citizen or permanent resident buying or building your first home in Australia
The property you buy must be a recognised house, unit or flat specifically designed for people to live in
You or your partner must not have purchased in Australia before
You must occupy the home for a period of at least 6 months within 12 months of settlement or within 12 months of building completion if it’s a newly built home
You must apply for the grant within 12 months of settlement or building completion. The grant will be paid at the time of settlement or building completion or where you apply after this time subsequent to your application
Contracts must be exchanged between the buyer and seller before any cut-off dates.

Posted in First Home Buyers, Uncategorized.