Essential Facts about the First Homeowner Grant (FHOG) in VictoriaJuly 29th, 2020 Uncategorized
To be eligible for the FHOG you need to meet the following Criterion:
- Buy a property or build a new home, where the contract is signed on or after the 1st July 2013.
- Home being build/ purchased needs to be less than 5 years old.
- Any residential property type accepted ie House, Townhouse, Apartments, Units.
- Property needs to be valued $750,000 or less AND this needs to be the first sale of the property as a residence! (The grant is available to those purchasing off the plan properties which meet the above conditions).
If you meet the above criteria; you may be eligible for a grant of $10,000 to assist with the purchase of a property in metro Victoria or a $20,000 grant if the property is located in regional Victoria.
NOTE: First home buyers who purchase land to build their first home will also receive an additional $25,000 under the Homebuilder Program introduced to counter the economic impact of the Coronavirus.