And this time it’s nothing to do with the bank of mum and dad; it’s the government’s First Home Owner Grant. All designed to help young renters like you get into a home of your own. Now that’s something that gets our vote.
This is usually the bit that comes with a catch, right? You’ve got to earn more than, or less than, or be able to do a handstand bend back double flip (we never mastered that one either). Not this time. This time, the criteria’s pretty cruisey. It’s like they actually want to give you the money.
Pretty simple, no? We told you it was catch-free.
There are a couple of eligibility variations, depending on the state you’re making your FHOG application in. Don’t worry, it’s not red tape; it’s actually a good thing – in South Australia, they’re splashing even more cash to help you build your dream home. How much is FHOG there, you ask? A cool $15,000. Looks like a good time to build in Adelaide.
In ACT, the First Home Owner Grant has been replaced by the home buyer concession, which comes with its own rules and regs. Don’t worry there’s still a pot of potential gold at the end of your building rainbow.
In Queensland or Tasmania, the grant amount has increased to $30,000. It’s like a license to print money. Or create a remarkable home for yourself.
NSW and Victoria play by the same rules as WA, with $10,000 up for grabs as a helping hand towards your dream home.
All it takes is a few simple clicks. And the best bit is – you can even ask somebody else, that somebody being the financial institution or bank that’s lending you the cash, to move the mouse for you.
To access the First Home Owner Grant in Western Australia, you can fill out the form online through the FHOG portal, or your lender can do it on your behalf. The state government’s website is a good place to find the information on applying for the grant in WA.
In SA, it’s pretty standard for your bank or credit union to lodge the FHOG application for you, but if your lender isn’t an approved agent, you can go direct, through RevenueSA.
Show me the money (or the First Home Buyers Grant. Same same). How much the FHOG is depends on where you live. Currently, happy homebuilders in Adelaide are looking at a $30k leg up the property ladder, while their counterparts out west are being given a $10k helping hand. But did we mention that, as long as you stick to the rules, and meet the criteria (humans only, remember?) you never have to pay it back. So everyone’s a winner.
As with most things official, you’ll need proof of citizenship and identity (you’ve got to be human, remember) but the other docs that you need depend on what stage you’re at with your build. You’ll definitely need the schedule of particulars from your contract to build and a Certificate of Title if settlement has already occurred. You’re also going to need evidence that the build has begun, but what you need and when you need it is spelled out on the application form. Any questions, we’ve got you covered.
When we said no strings, we meant it. This windfall is one hundred percent tax free. And one hundred percent yours. How good is that?
Our brilliant Vida is ready to help. Ask anything. Really… go on 👇
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