THE GUIDE TO BUYING A HOME
Step 1 - Getting Started
Buying a home is not an activity you do everyday, so we want to make it easy for you to understand the process of how it works and to give you some tips to make your journey easier. Click here to see a flowchart that provides you with an overview of the buying process.
First home buyer's grant
This section is only relevant for first home buyers. If you are not a first home buyer you may wish to skip this step and go straight to step 2 - What Can I Afford to Buy.
If you are a first home buyer, we need to work out whether you are eligible for the First Home Owners Grant (FHOG). This is a tax free grant from the Federal and State Governments of up to $7,000 to give first home buyers a helping hand in buying a home.
To check your eligibility for the grant, you will need to answer the 7 questions below:
| The seven questions to determine your eligibility for the grant
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| 1 |
Will this be the first time each applicant or their spouse/de facto will receive a grant under the First Home Owner Grant Act 2000 in any State or Territory of Australia? |
| 2 |
Does each applicant and their spouse/de facto declare that they have never owned a relevant interest in residential property, either jointly, separately or with some other person before 1 July 2000, in any State or Territory of Australia? |
| 3 |
Does each applicant and/or their spouse/de facto declare that they have never occupied a residential property for a continuous period of at least 6 months in which they held a relevant interest either jointly, separately or with some other person on or after 1 July 2000, in any State or Territory in Australia? |
| 4 |
Is each applicant a natural person (for example, not a company or trust) and at least 18 years of age at the time of settlement or completion of construction? |
| 5 |
Is at least one applicant a permanent resident or Australian citizen? |
| 6 |
Will at least one applicant be occupying the established home as their principal place of residence for a continuous period of at least 6 months, commencing within 12 months of either settlement or completion of construction? |
| 7 |
Has each applicant on or after 1 July 2000, either; A) Entered into a Contract of Sale or Agreement for the purchase of a home? OR Entered into a contract to have a home built? OR In the case of an owner-builder (ie. laying of foundations), commenced construction of a home? |
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If you answered Yes to all the questions, you may be entitled to receive the FHOG, subject to the decision being made by the Commissioner of State Taxation. However, if question 3 was your only No answer, you may still be eligible to receive the grant and you should still apply.
If you answered No to any of the questions (except for question 3), you are not eligible for the FHOG. Sorry!
If you are eligible for the FHOG you will need to fill out an application form. Select the state in which you will be buying your home below to find the application from and lots more info!
For a step by step guide for this process, click here for further help.
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