So you’re thinking of buying your first home? An exciting move, and we’re here for you every step of the way with the latest info and tips. Yes, there’s some lingo to wrap your head around, but before long, you’ll be on top of everything from variable interest rates to offset accounts.
If you’re buying or building a home for the first time in South Australia, you could be eligible for financial help from the state government, bringing your dream of getting into the property market that much closer.
If you’re buying or building a new home in SA, you could receive a $15,000 grant.
First home buyers of a new home with a price of $575,000 or less.
To qualify for this grant, you must be buying or building your first new home. This includes:
If you’re applying for the FHOG through an approved agent (your lender, which can be a bank or other financial institution), they’ll lodge the application form on your behalf – you just need to have signed it and had it witnessed.
If you’re applying for the FHOG directly to RevenueSA, go to revenuesa.sa.gov.au for the application form and the details. You’ll need to lodge your application within 12 months of settlement or completion of construction.
If you’re building a new home, substantially renovating an existing one or buying a new (or off-the-plan) home, you could be eligible for the government’s $15,000 HomeBuilder grant.
This grant applies to first home buyers and existing homeowners who earn no more than $125,000 (individuals) or $200,000 (couples).
Eligibility and application process for the HomeBuilder Grant is governed by each State or Territory Government. Please speak with a lender to discuss how the grant could assist with your loan application.
Details of how to lodge your application online are available at revenuesa.sa.gov.au. You’ll lodge your application in a multi-step process, with the initial lodgement made after an eligible HomeBuilder contract has been entered into. Applications must be received no later than 14 April 2021.
A home loan expert will call you once you have submitted your application to talk through next steps.
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