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April 7, 2021 | IN Media Release and News | BY AVID | 5 min read

Soon to be homeowners can take advantage of some fantastic government grants, helping to boost their spending power as they step onto the property ladder. Here’s all the info you need on home buyer grants for Eastern Seaboard states.

Contents:

• I’m looking for a home in NSW
• I’m looking for a home in VIC
• I’m looking for a home in QLD
• I want to learn about the FHOG
• I want to learn about other grants
• I want to apply for a grant

What is the First Home Owners Grant in Australia 2020?

For first home buyers in every state and territory of Australia, there are cash grants available to help you into your dream home. If you’re never purchased a home before, these government-issued grants can save you a lot of money. If you are a first home buyer and don’t qualify for the below grants, you may still qualify for a stamp duty discount or exemption.

First Home Owners Grant NSW 2020 (FHOG NSW)

NSW residents who are looking to buy their first home may be eligible for government assistance depending on whether you are purchasing an established property or a new home:

Grant	What You Get	You Are Eligible If…
First Home Owner Grant	$10,000 towards the property’s price, in addition to the First Home Buyer Assistance Scheme.	You are buying or building a brand-new home that no one has lived in before. It’s worth $750,000 or less.
First Home Buyer Assistance Scheme	Partial or full exemption on transfer duty.	The property is valued under $1,000,000. It’s your first home in Australia.

Where Can You Use the FHOG in NSW?

New buyers looking for a custom-designed apartment in the heart of Sydney’s buzzing Surry Hills should explore The Rathbone, while those interested in a more laid-back lifestyle in the Hunter Region can find the house of their dreams at the new master-planned community, Waterford.

Check out our full list of residential neighbourhoods in New South Wales.

First Home Buyers Grant VIC 2020 (FHOG VIC)

Care of Victoria’s State Revenue Office, homebuyers can explore the First Home Owner Grant (FHOG).

Eligible buyers seeking homes up to $750,000 in value may receive $20,000 towards the purchase price for properties in regional Victoria, and up to $10,000 in non-regional areas.

There are additional exemptions and concessions, such as an off-the-plan concession for land and building packages, as well as refurbished lots, so make sure you read up on your eligibility prior to making an offer.

Where Can You Use the FHOG in VIC?

Savana is a niche community with land for sale in the fast-growing Wyndham Vale region – meaning you’ll be close to public transport and amenities while still enjoying plenty of green space. Or, head northwest from Melbourne’s CBD and you’ll find fantastic house and land packages at Bloomdale, a new community in Diggers Rest that’s surrounded by heritage and beauty.

Check out our full list of residential neighbourhoods in Victoria.

First Home Buyers Grant in QLD 2020 (FHOG QLD)

Grant	What You Get	You Are Eligible If…
Queensland First Home Owners’ Grant	$15,000 and $20,000 towards buying or building a new home (depending on the date of the contract).	The property is valued at less than $750,000.
Regional Home Building Boost Grant	$5,000 towards the purchase or construction of a brand-new house in regional Queensland.	The property is valued at less than $750,000. Your contract must be entered into between 4 June and 31 December 2020.

To make things easier for homebuyers, the state government has an easy-to-use eligibility tester where you can enter your details online and find out if you are able to receive the grant.

Where Can You Use the FHOG in QLD?

Situated between stunning coastal beaches and lush green hinterland in the heart of the Sunshine Coast, Harmony is a tranquil village community offering both land and house and land packages for sale. If you’d prefer to live west of the state capital, Brentwood Forest near Brisbane will let you build your dream home in a perfectly positioned neighbourhood.

Other Home Buyer Grants to Take Advantage Of

Australians searching for their first property to purchase can also utilise a few other Federal government offerings to become a homeowner:

• First Home Super Saver (FHSS) Scheme: For those looking to save as much as possible before buying, you can apply to have a maximum of $15,000 of your voluntary contributions into super (every year) released under the FHSS scheme, up to a total of $30,000. If you’re a couple, you can both take advantage of the scheme for up to $60,000 to put towards your first home.
• First Home Loan Deposit Scheme: Kicking off on 1 January 2020, this scheme was a Coalition election promise that will help Australians get their first home faster. It will offer amounts dependent on your eligibility and the property itself (find out your property price threshold here) and will be available through specific lenders in its early stages.

How to Apply for the First Home Owners Grant

Applying for a First Home Owner Grant is easy; there are two ways to apply. You can apply through your lender at the same time as your home loan application, or you can apply directly to the relevant state government body (usually the Revenue Office) that handles the First Home Owner Grant in your state or territory. To apply and find out more information, visit:

• Federal Government Grants
• NSW Government Grants
• Victorian Government Grants
• Queensland Government Grants

At AVID Property Group, we bring people together. To find out more about our communities around the country and how you can invest in the home of your dreams, contact us today.