First Home Buyers

Victorian First Home Owners Grant

If you are buying or building a new home, you may be eligible for the FHOG ($10,000) if you signed your contract on or after 1 July 2013.

Your new home can be a house, townhouse, apartment, unit or similar, but it must be valued at $750,000 or less and be the first sale of the property as a residential premises.

First home buyers building new homes in regional Victoria may be entitled to $20,000 as of July 1 this year, up from $10,000 for new homes valued up to $750,000. The state government will double the first home owners grant for regional Victoria in a bid to draw more young buyers into the regions and counter the capital’s housing affordability crisis.

You’re not eligible for the FHOG if you or your spouse/partner have already:

  • received the FHOG in Australia,
  • owned a home in Australia, either jointly or separately, prior to 1 July 2000,
  • lived in a home in Australia in which either of you owned or part-owned on or after 1 July 2000, for a continuous period of at least six months

These criteria apply even if your spouse/partner is not an applicant with you for the FHOG.

Additionally:

  • All FHOG applicants must be at least 18 years of age at settlement or completion of construction (although there is discretion with this age requirement).
  • You (or at least one applicant) must be an Australian citizen or permanent resident at the time of settlement or completion of the home’s construction.
  • You (or at least one applicant) must intend to live in the home as your PPR for at least 12 months, commencing within 12 months of settlement or completion of construction.

More information: http://www.sro.vic.gov.au/first-home-owner

There was a time not so long ago when first home buyers were forced to sacrifice luxury and style for the sake of economy.

Not anymore.

Thanks to the Retreat Range from Hotondo Homes, first home buyers now have access to quality homes previously thought out of reach.

Latest News