Lenders Home Loans-South Morang
FIRST HOME OWNERS GRANT (FHOG)
(1) $10,000-$20,000 This is for you….. Call 03 9404 2737
A $10,000 First Home Owner Grant (FHOG) is available when you buy or build your first new home.
The FHOG is $20,000 for new homes built in regional Victoria, for contracts signed from 1 July 2017 to 30 June 2021.
(2) $25,000 This is for you …… Call 03 9404 2737
It has been revealed the $25,000 HomeBuilder grant for new home builds and renovations will commence from midnight tonight 04.06.2020
To be eligible for the HomeBuilder scheme, you must:
Be an Australian citizen aged 18 years or older and be an individual, not a company or trust.
Be on an income of less than $200,000 for couples, and $125,000 for singles.
Be spending between $150,000 and $750,000 on a renovation for a home that has been previously valued at less than $1.5 million.
Be building a new home worth less than $750,000 (this includes land value).
Crucially, the tax-free grant will apply to all owner-occupiers – not just first home buyers.
All dwelling types (house, apartment, house and land package, off the plan, etc) will be eligible under the HomeBuilder scheme.
The scheme will not apply to owner-builders or those who are planning to build a new home or renovate an existing home as an investment property.
The grant also cannot be used for additions to the property that are not connected to the home, such as swimming pools, tennis courts, outdoor spas and saunas, sheds or garages.
The grant will be offered for contracts entered into between 4 June 2020 and 31 December 2020. Construction must be contracted to begin within three months of the contract date to be eligible.
The program will be uncapped but the government expects it will cost $680 million, which roughly equates to around 27,000 grants.
HomeBuilder complements existing state and territory First Home Owner Grant programs, stamp duty concessions and other grant schemes, as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme.
Need Mortgage Broker -Call Jeffry on 03 9404 2737