First Home Owner Grant Scheme
What is The First Home Owner Grant (New Homes)?
The Scheme has been established to assist first home owners to purchase or build a new home by offering a $15 000 grant. FHOG (New Homes) will apply to eligible transaction, where the transaction commencement date (contract date) is on or after 1 October 2012. The FHOG (New Homes) grant will reduce to $10,000 on 1 January 2014 for eligible transactions which have a commencement date (contract date) on or after 1 January 2014.
What is FHOGS?
Please note: The $7,000 First Home Owner Grant ceases to apply where the eligible transaction is dated on or after 1 October 2012. However the $15,000 First Home Owner Grant (New Homes) scheme applies from this date for new homes only.
The Scheme was established to assist first home buyers to purchase their first home by offering a $7000 grant.
Eligible first home owners can receive the grant regardless of their income or the area in which they are planning to buy or build. However, there is a cap placed on the value of the home.