Government grant for First Home Buyers
Jul 10th 2008, 4:09 pm
#1
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Government grant for First Home Buyers
I was just perusing a home builder's web-site and came across this:
"Eligible First Home Buyers receive a government grant of up to $12,000 deposit for homes under the value of $500,000."
Can anyone explain this? What's the criteria for eligibility?
- CDM
"Eligible First Home Buyers receive a government grant of up to $12,000 deposit for homes under the value of $500,000."
Can anyone explain this? What's the criteria for eligibility?
- CDM
Jul 10th 2008, 4:19 pm
#2
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Re: Government grant for First Home Buyers
Actually, I just found the information I was looking for:
http://www.sro.vic.gov.au/sro/SROWeb...bates_fhog.htm
http://www.sro.vic.gov.au/sro/SROWeb...bates_fhog.htm
Jul 10th 2008, 8:10 pm
#3
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Re: Government grant for First Home Buyers
Interesting, I thought you could only get $7 - 10K or perhaps that was for under $400k? Any comments?
Jul 10th 2008, 8:55 pm
#4
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Re: Government grant for First Home Buyers
The $7K comes from Federal, the $3K from state. Hence the difference state to state.
It has now been raised a further $2K but I think it relates to new builds only?
The attached application may still be valid
Jul 11th 2008, 12:54 pm
#5
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Re: Government grant for First Home Buyers
This sounds almost too good to be true so I'm starting to doubt it.
Do I understand it correctly that I, as a PR (eventually), will be eligible for this money just because I'll be buying a new house for the first time in Australia?
- CDM
Do I understand it correctly that I, as a PR (eventually), will be eligible for this money just because I'll be buying a new house for the first time in Australia?
- CDM
Jul 11th 2008, 1:42 pm
#6
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Re: Government grant for First Home Buyers
Yes, that's what it means. It's a way to help first time homeowners buy instead of having to rent. It's not just for new houses, but any property so long as you and your partner/spouse have never owned property in Australia
Jul 11th 2008, 5:20 pm
#7
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Re: Government grant for First Home Buyers
Jul 11th 2008, 11:36 pm
#8
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Re: Government grant for First Home Buyers
Exactly! It's a win, win, situation for the government.
They give you the grant but then take it all back plus a little bit more
in bloody stamp duty.
Having said that, I know first time buyers are exempt up to a certain value
but stamp duty is still a bloody rip off...!!
They give you the grant but then take it all back plus a little bit more
in bloody stamp duty.
Having said that, I know first time buyers are exempt up to a certain value
but stamp duty is still a bloody rip off...!!
Jul 15th 2008, 8:59 pm
#9
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Re: Government grant for First Home Buyers
anyone know how much you can borrow before being exempt? ie a new build of a value of 400k but with only a $200k morgage.
Jul 15th 2008, 9:18 pm
#10
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Re: Government grant for First Home Buyers
have you factored int all the extra costs with building, like the price rises of raw materials
or the add ons if your going spec home, basically the base price of many wont even include the foundations, let alone any changes/additions from the 'base' (cough cough ) price.
