First home buyers receive at least $14,000
Nov 18, 2008 Homeowners Specials, Trends
The Australian Government’s announcement of a First Home Owner Boost is a welcome news.
According to the announcement from the Commonwealth, first home buyers now receive an automatic doubling of the First Home Owners Grant to $14,000. First home buyers building their first home receive an additional $7,000 raising their grant to $21,000.
As with other grants, there are of course certain requirements to meet. Eligible buyers will need to enter into a contract before June 30, 2009 to receive the increased payments. In the case of new property, as long as there is a valid contract to purchase, the home will not have to be completed by that date.
There are no income or assets tests to qualify for the benefits.
Some quarters say this move will drive up prices, but others disagree because of current uncertain economic conditions.
With interest rates and prices falling, now is the time to look into those first home buyers grants.
Our readers may wish to check the First Home website of the government to see if you are eligible.
Tags: grant, homeowners, interest rate
August 24th, 2009 at 9:12 pm
First Home Owners Grant extended to 30 September 2009. See latest entry.