The First Home Owner Grant is available to eligible first home owners. It is a great opportunity for those just getting started in the housing market. The First Home Owner Grant 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. If you are eligible, the First Home Owner Grant is worth $15,000.

Some the of criteria for the First Home Owner Grant is:

The residential property must be occupied as each applicants’ principal place of residence for a continuous period of at least six months commencing within 12 months of date of settlement for contracts to purchase, or the date construction is completed for owner builders or contracts to build.

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).

The property purchased has a market value of $575 000 or less. The market value of the property on which the home is situated at the time the home is completed and ready for occupation as a place of residence.

It is the responsibility of the applicant(s) to satisfy the Commissioner that they have meet the residency requirements. Applicants may be required to verify this later by providing documentation supporting their period of occupancy (e.g. electricity and gas accounts, bank statements, landline and/or mobile phone accounts and household contents insurance policies).

The First Home Owner Grant is potentially available, provided that all other eligibility criteria are satisfied. For full criteria and details on the First Home Owner Grant go the Revenuesa website Click here

Annette can advise and assist your First Home Owner Grant. Give Annette a call.

Here is a great video that explains about the First Home Owner Grant.

Need some Advice about loans?

A mortgage broker can help you find the right loan and secure the finance that’s most suitable for you. It will also ensure you avoid making mistakes.

Any questions you may have regarding loans, contact Annette Tothill on 0420 973 551.