subject: First Home Buyers In Australia: The Perfect Home Consultant [print this page] First Home Owner Grant cannot only benefit for first home buyers in Australia as they can also take advantage of low interest home loan and reduced stamp duty.But there are some terms and conditions that the buyers need to fulfill these to be eligible for grant and other benefits.
The Grant is available to Australian permanent residentsonly and the grant is strictly provided to those who are buying their first property. You also need to live in the property for at least six months. You have to prove that you are investing in your first house. If you are married then you and your partner shouldnt own any property. If your partner happens to be a homeowner then you would become ineligible for the grant.
The Grant is available for low and medium range properties but these rules vary from state to state. If you are investing in a high-end property then you may not be entitled to the first home owners grant due to the purchase price.
The Grant is not available for real estate investmentandit is not for owning commercial property either. Companies investing in offices and factories are kept out of the grant. Homeowners also need to use the dwellings they have bought for a specific period to get the grant. You simply cant invest in a house and use it for earning money.
First home buyers in Australiashould take advantage of the grant, if they are eligible to receive it. Only permanent residents can apply for the free money but new arrivals married to permanent citizens are also eligible for the grant. There are many considerations that you need to keep in mind when applying for free money.
Like FHOG, first home buyers in Australia can also take advantage of reduced stamp duty. Different states have different rulesfor stamp duties but you would may be entitledto a reducedstamp dutypremium if it is your first property. Again you have to fulfill certain terms and conditions in order to get the rebate.
First home buyers in Australia should try to take advantage of low interest home loan. The Mortgage market in Australia is quite large as there are many banks and financial institutions that offer quick home loan to property buyers. You can explore the market to find the right options. An experienced mortgage broker can help you in getting grant and finding a friendly lender.
