Buying your first property is perhaps one of the most important decisions that you’ll make in your life which is why it’s so important to be well informed and well equipped. At Mates Rates Money we’ll help you make all the right decisions for your current situation!
Borrowing Potential
Before you even start looking at properties it’s vitally important to know how much you can afford and therefore how much you are able to borrow. We will meet with you at your home, office, work or at whatever best suits to discuss your situation. We’ll also take you through all of the costs associated with buying your first home and the application process.
How do I get the First Home Owner Grant?
The First Home Owner Grant (FHOG) is a tax-free Federal Government scheme designed to encourage first home buyers. Anyone buying their first home in Australia is entitled to benefit from the FHOG which means you will recive a significant monetary bonus...
These are the eligibility criteria for FHOG applicants (from the SRO Victoria website);
- You and your spouse/partner must not have received a grant [FHOG] in any State or Territory of Australia.
- You and your spouse/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.
- You and your spouse/partner must not have occupied for a continuous period of at least 6 months, a residential property in which either of you acquired a relevant interest on or after 1 July 2000 in any State or Territory of Australia.
- You must be a natural person (not a company) and at least 18 years of age at the time of settlement or completion of construction
- You (or at least one applicant) must be a permanent resident or Australian citizen at the time of settlement or completion of construction of the home
- You (or at least one applicant) must occupy the home as your/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.
How to get the First Home Owner Grant...
Grants are give
n by state and territory governments.
You may also be eligible for additional/further bonuses such as stamp duty concessions or extra money depending on your circumstances. Ask Evan at Mates Rates Money to find out what your individual entitlements are…
< Click here For more information on the FHOG.
Let us help you with the paperwork!
As always, we’re happy to do the hard work for you. We’ll arrange the paperwork for you and make sure you’re getting all of the additional FHOG benefits!
