top of page
5.jpeg

Facts You Need to Know of the First Home Owner Grant

 

If at all you are looking forward to the building or buying a residential property in the near future, then you need to be informed of the availability of the First Home Owners Grant. But before you thrill on all the good news about this, indeed it is a good scheme and needs to be celebrated by all standards, know of the facts about the scheme. This guide will get you some of the basic facts that are worth knowing on the scheme that will be of much help to you as an ordinary citizen so as to be able to make the most of the plan. Read on and learn more on the scheme.

 

First of all, it is supposed to know of the very fundamentals of the plan, First Hunter Galloway Grant. Essentially, this is a one-off payment that is designed to encourage and help first home buyers to buy or build residential property that will be used by them as their principal place of residence. If you are a first home buyer, you need to know that you can qualify for the grant and or together with the first home owner rate of duty if at all you are going for the purchase of an already built home or if you are building one on your own from scratch. Know of the eligibility criteria for the first home owners grant here. There are as well geographical caps on the total value of the home and as well you need to know of the fact that there are residence requirements attached to the grant qualifications.

 

How much is the grant? For those who have signed a contract to buy a brand new home or build a new one in the past year, 2018, they may be eligible for Hunter Galloway grant values going as much as $20000 in the First Home Owners Grant.

 

Looking at the above facts, it is as such apparent that the values that one would qualify for in the grants actually is greatly influenced by the time and dates when they happened to have signed contracts for the building or purchase of brand new properties. In the same breath, it is as well worth noting the fact that there are some changes to the old systems for the qualification for the grant. This is looking at the fact that it doesn't anyway apply in the event that you happen to be looking at the purchase of an established home anymore. You may visit https://dictionary.cambridge.org/us/dictionary/english/grant for helpful facts.

bottom of page