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Building your first home is a truly exciting milestone that should be celebrated. While the journey can sometimes seem a little daunting, our home builders will work with you through each stage of your building process from finding the perfect design that suits your budget, to handing over the keys to your very first new home. Take a look at our handy tips, tricks and information to help you along the path to building a first home that’s better than you ever imagined.
FHOG applies to the purchase or construction of a new residential property, including a house, flat, unit, townhouse or apartment that meets local planning standards anywhere in South Australia. FHOG ceased for established homes from 1 July 2014. The table below outlines the current grants and concessions available:
New Homes* | Up to |
---|---|
First Home Owner Grant (from 15 October 2012#) | $15,000 |
First Home Owner Grant (1 July 2002 to 14 October 2012#) Please see the First Home Buyers Grants Table for previous amounts |
$7000 |
Housing Construction Grant (15 October 2012 to 31 December 2013#) | $8500 |
If you are purchasing an off-the-plan apartment that meets the required criteria, you may also be eligible for a off-the-plan Concession (stamp duty) | $21,330 |
Established Homes | Up to |
---|---|
First Home Owner Grant (from 1 July 2014) | NIL |
First Home Owner Grant (22 November 2012 to 30 June 2014#) | $5000 |
First Home Owner Grant (1 July 2000 to 21 November 2012#) | $7000 |
# For eligible transactions entered into
It should be noted that if the consideration for the purchase of the property is less than the FHOG and/or additional schemes (e.g. where a property is inherited), the amount of FHOG will not exceed the consideration. The First Home Buyers Grants Table outlines the maximum payment available, incorporating the First Home Bonus Grant (FHBG), First Home Owners Boost (FHOB) and the stamp duty First Home Concession (FHC) schemes. *NEW HOME means a home that has not been previously occupied or sold as a place of residence and includes a substantially renovated home (see definition of terms page).
Where the eligible transaction relates to the constructions of a new home, the eligible transaction must be completed (i.e. the home must be built) within 24 months of entry into the eligible transaction (e.g. within 24 months of entering into the contract or, in the case of an owner builder, within 24 months of commencing the laying of foundations for the home).
Eligible Australians can now receive grants of $25,000 to build their new home, or substantially renovate their existing property under the Federal Government’s new HomeBuilder scheme.
The stimulus was created to help first home buyers enter the property market, assist those who have been looking to enter the property market, and help the residential construction industry bounce back following the Covid-19 pandemic.
HomeBuilder can be used in conjunction with existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes.
To be eligible for the HomeBuilder grant you must:Our extensive suite of calculators is the perfect tool to help you gain a better understanding about your financial position and is a great starting point when considering your various finance options.
What is your current borrowing power?
Your regular repayments based on your loan amount.
Compare two different loans to determine which is best for you.
Determine the estimated stamp duty required for your new home.
How long will it take you to reach your savings goal?
How might you benefit from an offset account?
Estimate all your potential costs to buy a new home.
Compare how beneficial it is to buy or rent over an extended period.
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