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!
Federal Builders Grant
The Federal HomeBuilder grant is worth $15,000 and can help you with either a new home build or renovation. To learn more about the HomeBuilder grant and to see if you’re eligible check out our blog here.
Please note: On January 1st 2021 the Federal grant was reduced from $25,000 to $15,000.
State Builders Grant
The State HomeBuilder grant is worth $20,000 and is for anyone wishing to build a home. You can find out all the terms and conditions in our blog here.*
*The State HomeBuilder grant has been extended to March 31st 2021.
50% Off Stamp Duty
If you are a first home buyer purchasing an existing home under $400,000 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 worth $20,000 and valid to those who are purchasing a new (or newly built) home. That means if you’re wishing to build or purchase a brand new home, the Government will help you out with an additional $20,000 on top of your savings. Recently the FHOG was extended to 2022.
If you or someone you know needs assistance with a loan or has any questions regarding any grants please contact us at email@example.com or 03 6334 0883 (Launceston) or 03 6224 4402 (Hobart).