Do I qualify for the First Home Owners Grant?
To qualify for the grant you’ll need to meet the eligibility requirements below;
You must be 18 years or older
You must be an Australian citizen or permanent resident
You and your spouse cannot have owned a residential property in Australia prior to 1 July 2000
You must occupy the property as your principal residence for continuous periods of 6 months, within 12 months of settlement or within 12 months of the completion of your home
What are the grant limits?
Some limits do apply to the value of the property you can purchase when you receive the First Home Owners Grant, but don’t worry, we’ve got plenty of house and land package options available that are eligible for the grant.
The caps on the total value of the home and land depends on where you plan to build your home. For homes built within the Perth metropolitan area (which falls South of the 26th parallel), the value of your property cannot exceed $750,000. Homes built north of the 26th parallel must not exceed $1,000,000.
Stamp duty concessions
If you’re eligible for the First Home Owners Grant then you might also qualify for stamp duty concessions. First home buyers are exempt from paying stamp duty for homes under $430,000. To find out more, get in touch with us today!