First Home Buyers Grant
You may be eligible for the First Home Owners Grant (FHOG) and in some states, Stamp Duty exemption, which could potentially save you up to $25,000.
There are a number of eligibility requirements for the FHOG - and we recommend you speak with a member of MORE Legal in order to determine if you are eligible.
However as a general summary, in order to be eligible for the First Home Owners Grant you must:
- Be 18 years of Age and an Australian (or NZ) Citizen or Permanent Resident
- You (and your spouse or partner) must not have previously owned a home in Australia (limited exceptions for Investment Properties)
- You must meet the Occupancy Requirement - you must move into the property within 1 year of owning the property and occupy the property as your Principal Place of Residence for a minimum continuous period of 6 months
If you are eligible for the First Home Owners Grant we will be able to assist you in applying for the grant as part of our Home Loan service.
Stamp Duty Exemption (First Home Plus Scheme)
As a First Home Buyer, you may also qualify for a full or partial stamp duty exemption on the purchase of your first home.
Every State in Australia has different rules in relation to the concessions or exemptions that apply and so we recommend you contact a member of the MORE Legal team in order to determine the rues for each State.