Government Grants

Is now the right time to buy, build or renovate a home?

We think so! There are many Government incentives for first home buyers, first home builders or even those experienced at building or renovating. We decided to put them all in one place so it’s clear for you. Read on to get all the facts so you can start (or build) your property portfolio!

50% Off Stamp Duty

If you are a first home buyer purchasing an existing home under $500,000 you are eligible for 50% off your stamp duty.

First Home Loan Deposit Scheme (FHLDS)

The FHLDS was announced in January 2020 and allows first home buyers to buy into the property market with a deposit as little as 5%. This grant is able to be used in conjunction with other government schemes, making the process of obtaining your first home even easier.

First Home Owners Grant (FHOG)

The First Home Owners Grant is currently worth $30,000* and valid to those who are purchasing a new (or newly built) home for the first time. That means if you’re wishing to build or purchase a brand new home, the Government will help you out with an additional $30,000 on top of your savings. In April 2021 the FHOG was extended to 2022.

*$30 000 grant: for transactions that commence between 1 April 2021 and 30 June 2022.
*$20 000 grant: for transactions that commence between 1 July 2016 and 31 March 2021.

 

If you or someone you know needs assistance with a loan or has any questions regarding any grants please contact us at info@fbt.com.au or 03 6334 0883 (Launceston) or 03 6224 4402 (Hobart).

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