First Home Buyers Grant

By FutureNestEgg | September 3, 2008







What Is First Home Owners Grant / First Home Buyers Grant?



Back in 2000, the Federal Government introduced the First Home Owner Grant. This grant is administered under the legislation of each individual State or Territory. The grant was introduced to compensate first home buyers for the effect of GST on home buying costs and to encourage Australians to buy their first home. Th grant is an one off payment of $7000.



Criteria and Key Points About First Home Owners Grant



1. You obviously have to be Australian Citizens or permanent residents to get this grant.

2. The grant is only for your first residential property – If your first property is a commercial property then you are not eligible for this grant.

first home buyers grant

3. You have to live in this property for at least 6 months and this has to begin within the first 12 months of settlement or completion of the property.


4. When you buy a property, you will get the grant at settlement. For an owner-builder property, you will get the payment on certificate of occupancy/completion.

5. If you or your partner had owned property before or received a grant before then you are not eligible. Check with your state or revenue office for further details.

6. This grant is not means tested.



The Best Use Of The ‘First Home Buyers Grant’



The best use is to put it back into your mortgage. I purchased my property before the grant was introduced. So I am not sure about the exact details – but I am quite sure that you can organise it such way that you receive the funds in time for your settlement. Check with your lender – they will assist you in applying for this grant. Click this First Home for more details.

If you are a recipient of the first home buyers grant then share with us any tips or details you might want to…







Topics: Property | 1 Comment »

One Response to “First Home Buyers Grant”


  1. First Home Buyers Benefits - Home Owners Grant Scheme | FutureNestEgg Says:
    January 19th, 2009 at 12:04 am

    [...] in 2000, the Federal Government announced a $7000 first home owner grant to all first home buyers. To be eligible for the grant, the property has to be your first home and [...]

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