The First Home Owners Grant – What is it?
Looking to buy your first home but struggling to scrape together the deposit? You might be eligible for the $15,000 First Home Owners Grant to get you into your new home quicker than what you thought possible.
Whether it’s buying a small unit or townhouse so you can move out of home and gain some independence, buying with a partner and moving in together or wanting to buy your first home to accommodate a growing young family, the thought of owning your own home is an exciting idea that many Millennials are now considering.
However, discovering how much money you actually need to purchase your first home, along with all the other lending requirements, like income level, credit status, debt level and employment status, the idea of being able to own your own home can quickly turn into a far-off dream.
That’s where the First Home Owners Grant (FHOG) comes into play. For those eligible (be an Australian citizen or permanent resident of Australia, have not previously owned a property, be purchasing a property that is less than $575,000 or have ever received the FHOG before – among other criteria), the South Australian Government offers those who meet the set criteria $15,000 towards their deposit on a new-build home.
And that’s one of the main criteria that many potential first home buyers don’t realise; the FHOG of $15,000 only applies to new-build homes. It is not available to anyone purchasing an established home.
The First Home Owners Grant is a one-off payment made per property purchase. Which means whether you purchase on your own or with another person, only one payment of $15,000 is available on any new-build property purchase.
Applying for the FHOG is simple with the help of SA Home Buyer, South Australia’s most experienced new-build house and land seller. Specialising in helping first home buyers through the process of FHOG application, mortgage approval and finding the ideal house and land package to suit budget and lifestyle, SA Home Buyer offers first home buyers all the experience and knowledge to make the process as smooth and stress-free as possible.
SA Home Buyer will help you to identify if you meet the criteria for eligibility for the $15,000 FHOG, they will help with your application, point you in the right direction for a mortgage application and approval as well as help you find the perfect piece of land and the ideal house builder to build your new home.
Low deposits, fixed price house and land packages and quality builders that offer you the best value for money is what the team at SA Home Buyer aim to provide to every one of their valued clients, whether you are a first home buyer, second home buyer or established property investor.
For more information on how you might benefit from the $15,000 First Home Owners Grant that is currently on offer by the South Australian Government, then contact SA Home Buyer today on 08-7200-1117 or visit sahomebuyer.com.au today to find out how you can get out of renting and get into your first home.