Been told that you need to save up thousands of dollars which could take you forever to save up?
Paying rent, struggling to save a deposit and costs to buy a home of your own while watching house prices increase?
Feel like you will have to buy a property that really doesn't suit you, or buy in a suburb that you really don't want to live in?
Lucky you came to Lifesaver!
There is an option available to get you into a home now.
Take advantage of a supportive family member willing to help you get started. Everyone's situation is unique. This could see qualifying to buy your own home immediately.
Call Lifesaver now and we can tailor a solution for you.
WHAT IS THE FIRST HOME OWNER GRANT?
The First Home Owner Grant (FHOG) was a Federal Government scheme established to offset the effect of the GST on home ownership by providing a grant to first homeowners.
The FHOG scheme came into effect on 1 July 2000 and is an on-going scheme with no end date yet specified.
The FHOG is not means-tested nor is it restricted by the purchase price of the property. A contract to purchase an existing home or to build a new home must be signed on or after 1 July 2000.
Many FHOG applicants may also qualify for various State Government grants and subsidies. The terms and conditions of such grants will vary dependent upon current State legislation and applicants should contact Lifesaver Home Loans for a current update.
ARE YOU ELIGIBLE?
To be eligible to receive the FHOG, the following eligibility criteria must be satisfied:
Each applicant and their partner must not have received a grant under a First Home Owner Grant Act 2000, in any State or Territory of Australia;
Each applicant and their partner must not have owned residential property, either jointly, separately or with some other person prior to 1 July 2000, in any State or Territory of Australia; Each applicant and their partner must not have owned and occupied a residential property, either jointly, separately or with some other person on or after 1 July 2000, in any State or Territory of Australia; Each applicant must be a natural person (not a company);
From 1 January 2004, each applicant must be at least 18 years of age at the time of settlement or completion of construction of the home
Note: The Commissioner may exempt an applicant from this requirement if satisfied that the home will be occupied, as the applicant's principal place of residence and the application does not form part of a scheme to circumvent eligibility or entitlement requirements.
At least one applicant for the grant must be a permanent resident or Australian citizen at the time of settlement or completion of construction of the home.
Note: A permanent resident includes the holder of a permanent visa under section 30(1) of the Migration Act 1958. New Zealand citizens holding a special category visa under section 32 of the Migration Act 1958 also satisfy this requirement.
From 1 January 2004, at least one applicant must occupy the home as his or her principal place of residence for a continuous period of at least 6 months commencing within 12 months of either settlement or completion of construction.
Note: The Commissioner may approve a lesser period if satisfied that there are good reasons why the applicant cannot comply with the 6-month requirement. The Commissioner also has discretion to extend the 12-month period if satisfied that the applicant cannot occupy the home within 12 months of settlement or completion of construction due to circumstances that were unforeseen and beyond the control of the applicant.