Are you a First Home Buyer and looking to buy your first home with friends or family?
Well, we have some good news.The Australian Government has announced a First Home Owner Boost.
According to the announcement from the Australian Government:
- First home buyers who purchase established homes will receive a boost of $7000 that will double the grant to $14,000 (but note this grant is shared between eligible co-owners).
- First home buyers who build a new home or purchase a newly constructed home will receive an extra $14,000 to take their grant to $21,000 (but note this grant is shared between eligible co-owners)..
Eligibility
In general terms, to be eligible,
At least one of the applicants must be an Australian citizen or a permanent resident
None of the applicants may have previously owned or built a home
You must live in the property for a minimum of six months
You must be over the age of 18
For a closer look at government grants and the exemptions regime check out PodProperty’s First Home Buyer’s Guide.
Important Note: you can only receive one grant per property. If you want to buy with someone who already owns a property, PodProperty can arrange loans agreements as well.
For more information about Co-Ownership Agreements, Financing or First Home Owners Grants and how PodProperty can help download one of our Guides today!
Useful Links:
More on the First Home Owner's Grant
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