First Home Owners

THE FIRST HOME OWNER GRANT​

The Australian Government offers the First Home Owners Grant (often referred to as FHOG), as a one-off financial grant, to eligible home buyers who are buying or building their first home.
The FHOG is aimed at helping eligible first time buyers by providing them a lump-sum payment to offset purchase costs including transfer duty (stamp duty) and legal fees.

If you’re a first home buyer and you’re buying or building a new home, you may qualify for a $10,000 grant under the First Home Owner Grant (New Homes) scheme.

You can make a claim for the First Home Owner Grant if your:

  • new home has a total value less than $600,000
  • land for building and any dwelling you intend to build has a combined value less than $750,000

Other eligibility requirements

  • you must be an individual, not a company or trust
  • you must be over 18
  • you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
  • Generally, you won’t be eligible for the First Home Owner Grant if you or your spouse:
  • have previously owned or co-owned a home in Australia or
  • have received an Australian first home owner grant.
  • You may still be eligible if you purchased a residential property after 1 July 2000 and didn’t live in it for more than six continuous months.

NSW Government First Home Buyers Incentives

The NSW Governments incentives currently available for first home buyers includes:

  • abolish stamp duty on all homes up to $650,000
  • stamp duty relief for homes up to $800,000
  • provide a $10,000 grant for builders of new homes up to $750,000 and purchasers of new homes up to $600,000
  • abolish insurance duty on lenders’ mortgage insurance

Ashmont Homes is working in conjunction with Federal & State Government initiatives by offering to first home buyers, a new home package that focusses on maximising value, without compromising on quality or inclusions.

More questions about being a First Home Owner?

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hello@ashmonthomes.com.au