So, what is the FHOG and how do you receive it? The grant is a a one-off payment designed to help eligible first home buyers with the cost of purchasing or building a new home. But with specific criteria to meet, how do you know if you're eligible?
The best place to start is with the official government sources. The South Australian government's Revenue SA website provides a comprehensive guide to all the eligibility criteria. The grant is not means-tested, but key requirements include:
- Property type:
You must be buying or building a new home, which can include a house, apartment, or a house and land package. The grant is not available for established homes.
- Applicant status:
You or your spouse or domestic partner must be an Australian citizen or permanent resident, at least 18 years old – and a natural person (not a company or trust).
- Property ownership:
You and your spouse or domestic partner must not have previously owned residential property in Australia where you have resided for six months or more.
- Residency:
You must live in the home as your principal place of residence for a continuous period of at least six months, commencing within 12 months of the purchase or completion of construction.
To simplify the process, many first home buyers work with their mortgage broker or bank, who are considered an ‘Approved Agent’ for the grant. They can assess your eligibility, handle the paperwork and ensure the grant is factored into your financial plan at settlement.
For detailed information and to check your specific circumstances, the Revenue SA website.is your go-to resource.
Renewal SA recommends that you seek professional advice from a conveyancer or financial planner to navigate the process, so you can make your purchase at Noarlunga with confidence.
Of course, our highly experienced sales team are always on hand to help – just phone 1800 965 250 – or email us at info@livenoarlunga.com.au
