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A Great Start To Get Into Your First Home

The First Home Owner is a Government initiative to help first home owners to get their new first home sooner. Youíll get $10,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000). You can even buy off the plan or choose to build yourself. Itís a great opportunity to buy or build a new home in our great state.

 

How A $10,000 First Home Owner Can Help You

 

If you're thinking of buying or building a new home, this could be what gets you started

It could get you something more than you were expecting

It can get you into your first home sooner


Note: The First Home Owner is administered under the First Home Owner Grant Act 2000.

 

Application Requirements
Anyone who will own any part of your new home must be included on the application. Only one grant is payable per new home and you only need one application for your new home, regardless of the number of applicants.

Your application must be:

 

signed by all applicants

witnessed

completed in full

accompanied by supporting documentation



Additional Information
In order to determine whether or not you are eligible for the grant, we may ask you for additional information. There are penalties for giving false or misleading information.


Application Process
Once your application is submitted, we will process most applications within 10 working days of receiving all the required information. If you apply through an approved bank or lending institution, you may get the grant sooner. See the Office of State Revenue website for a list of approved banks and lending institutions.


Conditions And Penalties
In some cases, we may pay the grant before you move into your new first home. However, as a condition of the grant, you must tell us and repay the grant if you do not:

 

complete the transaction of buying or building your new home

move into the new home within 1 year of becoming the registered owner

live in the new home for a continuous period of 6 months.


There are penalties if you donít tell the Office of State Revenue within 14 days of finding out that you are unable to meet these conditions.

 

Resources: http://www.osr.nsw.gov.au/grants/fhog

 

 

 

 

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