First Home Owners Grant in Australia 2022 Guide

Are you looking for first home owners grant Melbourne? If yes, then you can get detailed information from here. Buying a first home is a quite challenging and stressful task if you lack funds in your hands, right? While purchasing a new home, you may have to look after deposit, insurance, land transfer duty, and other fees. However, do you know that a first home owner grant is a financial helping hand for first home owners? In today’s blog, we’ll discuss the first home owner grant along with its eligibility criteria. Let’s get started:

What is First Home Owner Grant in Melbourne?

The first home buyer grant Melbourne is supported separately by every state and territory. Thus, how much you can get and the conditions for eligibility for FHOG will vary across the country. FHOG is a one-off payment that helps in encouraging first home buyers Melbourne to purchase or construct a new home to use as their principal place of residence. The grant amount may vary across states and territories. Take a look at the following section to know the eligibility for the first home owner grant Melbourne in different states and territories:

• First Home Owner Grant VIC

First home buyers who buy a newly established home or they want to construct a home, and then they are eligible. If you buy or build a home, then FHOG is worth $10,000. Your first home value must be $750,000 or less.

• First Home Owners Grant Eligibility:
1. You or your partner must not have received an FHOG previously in Australia.
2. Before 1 July 2000, you must not have purchased a home or other residential property in Australia. However, if you or your spouse owned property on or after 1 July 2000, then you are eligible for this grant, but on one condition and that is, you didn’t live there.
3. You must be a permanent resident or an Australian citizen.
4. Your age must be 18 years.

• First Home Owner Grant NSW

  The FHOG is worth $10,000 for first home owners living in New South Wales, however, conditions apply. To qualify for this grant, your first home must have a value below $600,000, and it should be either newly built or renovated.

• Eligibility for First Home Owner Grant Scheme
1. You must not be a company or trust and must be an individual.
2. Your age must be 18 years.
3. You or with whom you are buying a home must be a permanent resident or an Australian citizen.
4. You and your partner must not have owned a home previously in Australia or got an Australian first home owner grant.

• First Home Owner Grant WA

The first home owner grant for WA is $10,000 when you establish or buy a new home. If your new home value is up to $750,000, then you can get this grant.

• Eligibility for First Home Owner Grant Scheme
1. You need to be independent and must be 18 years or over.
2. You or your partner must be applying for this scheme for the first time.
3. You need to live in the apartment or home for at least 6 months within 12 months of settlement of purchasing a home or within 12 months of completion if you are constructing a home.

• First Home Owner Grant ACT

  The FHOG is worth $7,000 designed to help first-home buyers in the ACT. On 1 July 2019, the FHOG was replaced by the Home Buyer Concession Scheme which could add more than the current $7,000 FHOG.

• Who is eligible for First home buyers grant Act?

• You or your partner shouldn’t have received the FHOG in Australia.
• You need to live in the apartment or home for at least 6 months within 12 months of settlement of purchasing a home or within 12 months of completion if you are constructing a home.

• First Home Owner Grant NT
If you purchase or construct a new home after May 7, 2019, then you can get $10,000 FHOG. Take a look at the following section to know the eligibility criteria:
1. You must be the first time applying for the FHOG scheme.
2. You need to be 18 years old or above and shouldn’t be a trust or company.
3. You need to live in your first home for 6 months within 12 months of purchase.
4. You must not have owned the property prior to 1 July 2000 in Australia.

• First Home Owner Grant SA
The FHOG is worth $15,000, and it is available for those first home buyers who buy a new home. However, your house purchase value must be below $575,000. Eligibility criteria for FHOG in SA:
1. The candidate must be a permanent resident or an Australian citizen.
2. Must be a natural person.
3. You shouldn’t have owned a home in Australia prior to 1 July 2000.
4. You need to live in the home you purchase for at least six months within 12 months of completion of building a house or taking ownership.

• First Home Owner Grant QLD
If you buy or construct a new home worth below $750,000, then you can get $15,000 FHOG. Eligibility criteria for FHOG QLD:
1. You need to be an independent entity.
2. You must be a permanent resident or an Australian citizen.
3. You or your partner must not have received an FHOG in Australia.

Conclusion

You can have complete information regarding the first home buyer home loan scheme Melbourne, first home owner grant for QLD, SA, NT, ACT, WA, NSW, and VIC along with eligibility criteria.

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