First Home Buyers Grant
The First Home Owner Grant (New Homes) scheme (the Scheme) was established to assist eligible first home owners to purchase a new home or build their home by offering a $15,000 grant.
The Scheme applies to new homes only and will reduce to $10,000 on 1 January 2016.
What is a new home?
A new home is:
- a home that has not been previously occupied, including occupation by the builder, a tenant or other occupant.
- a home that has not been previously sold as a residence. Where the home is being purchased, it must be the first sale of that home
- a home that has been substantially renovated and a home built to replace demolished premises.
Am I eligible?
To be eligible for the $15,000 grant:
- the contract date must be on or after 1 October 2012
- the home is a brand new home
- you are over 18
- you or your spouse (including de facto spouse) have never held a relevant interest in any residential property in Australia prior to 1 July 2000.However, you may be eligible if you or your spouse, including de facto spouse, have only had a relevant interest in any residential property in Australia on or after 1 July 2000 and you have not resided in that property for a continuous period of at least 6 months.
- the value of the property must not exceed the First Home Owner Grant Cap of $650,000 for contracts dated between 1 October 2012 to 30 June 2014
- the value of the property must not exceed the First Home Owner Grant Cap of $750,000 for contracts dated on or after 1 July 2014
- you have not received a first home owners grant in any State or Territory, unless subsequenly repaid
- you need to live in the home for a continuous period of at least 6 months
- at least one applicant is a permanent resident or Australian citizen
- each applicant must be a natural person and not a company or trust.
If you cannot meet all of the eligibility requirements, you are not eligible to receive the grant. If you receive the grant and fail to meet the eligibility requirements (for example,not living in the home for a continuous period of at least 6 months), you need to payback the grant. Failure to do so can result in prosecution and penalties up to $11,000.
If you are part of the Australian Defence Force and all applicants are on the New South Wales electoral roll, you may be eligible for an exemption from the 6 month residence requirement.
Our team at First Choice Mortgage brokers will assist you with the application. Usually the first home owners grant application is submitted whilst the loan is proceeding so that the funds are available for settlement of your home loan.
In some cases the grant can be submitted post settlement and the funds deposited into your bank account. We will assist you with the application and submit the forms on your behalf; this is part of our ongoing commitment to you.
For more information on the First Home Buyers Grant Contact First Choice Mortgage Brokers on 1800 111 455 and speak with one of our mortgage specialists
"I would like to Thankyou and your staff very much over the last few months. The ladies have been pretty good dealing with the Commonwealth Bank and getting back to me, as it has been very frustrating at times and they have calmed me down. I have sent an email ..."− From: Stella Miliatis
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"Dear Tony Forgot to say thank you for the gift that you sent us. the timing was spot on as we had just moved in physically on the day We seemed to have fit the essentials into to our finances so thankfully we won't need to think about a further loan. Thank you ..."− From: Simon Airey
"Thanks for all you help with this, Anna – we're really pleased! Warm regards, Elisabeth "− From: Elisabeth Crawford
"Hi Barbara, Tony, Taryn and Kylie We had a lovely hamper arrive on our doorstep today! What a nice surprise – and a lovely gesture. Love it – can't wait to test out the champagne and choccies. Thank you for the gift – pleasure doing business with you guys – will ..."− From: Sharon and Darren Quandt
"I spoke to Tony Bice ( mortgage consultant) about getting a mortgage for my new home as I was having trouble securing a loan due to my break up of my marriage. I was referred to CLS Investment Services by a friend. It was the best phone call I have ..."− From: Suzanne Allen
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"G'day Tony, Good to talk to you yesterday and thanks for your help with the new House. Tarryn, Lyndal and yourself have been a pleasure to deal with. Can you please fire through the breakdown of weekly cost for each of the four areas you outline below and which institution they would be with. ..."− From: Neil Masters
"Dear Tony Thank you for your time today on the phone and the detailed discussion of our home loan status. Further to our conversation, Tim & I would like to pass on our congratulations to Barbara Mourga, on her extremely timely and professional help with our particular 'scenario'. We have bought (& ..."− From: Melissa & Tim
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"Hi Tony After much thought we've decided that we're better off selling the flat as we wouldnt be able to keep it and buy another place so rather than keep putting money into something we're going to sell in 12 months, best to do it now and add to the equity ..."− From: Bridie Read
"Hi Tony and team, Although belated, (I have been absent for the past 3 weeks) I would like to pass on our gratitude for the assistance you have provided with the purchace of our home. The gift basket was a lovely touch, and indicative of the personal customer service we have ..."− From: Brad Pearson
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"Hi Tony, My apologies for not getting back to you earlier this week as promissed. Danijela and I went through the life insurance documents and we realised that we need to have a proper chat with either yourself or Lyndal again regarding this matter. We made a list of questions that we need some ..."− From: Serg and Daniella
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"Hi Stress Attack... How is your heart beat now? So happy to hear some good news for you... I was quietly confident.... but we dont cheer until it is in writing. Still have to wait for a good val in SA – great news they aren't doing a val on NSW – shows ..."− From: Barb firstname.lastname@example.org
"Hi Tony and Taryn I received today a lovely congratulatory gift from both of you, which I thank you both for very much. Your excellence in professionalism, communication and assistance all the way through, with Taryn continually keeping me posted, alleviating my anxiety, and assisting to ensure that all was done in possibly one ..."− From: Cheryl Bigini
"Thanks Tony, I appreciate all your help. J You have been fantastic, not sure what we would do without your help & advice. Kara Spokes | Sales Manager Retail | Home Magazine "− From: Kara
"Hi Tony I really sorry I haven't written sooner but Ive been flat out working and renovating I haven't had time to scratch myself.I just wanted to say I really appreciate everything lyndal, anna and yourself did in regards to my loan and my finance protection. i was extremely happy with the service you provided "− From: Michael Richards