It’s tricky when you’re first in the market to purchase a home to understand when is the best time to buy a house. If you’re buying for the first time, throwing in the First Home Buyers Grant, the property search, legals and all the info that goes with it can leave you with a head full of information and no idea of where to start.
If you’re interested in finding out more about how you can use the first home buyers grant to your advantage as you step into your first home, or you are at a cross road as to when is the best time to buy a house, we’ve put together the basic info to help give you some clear information to get you on your way towards your new home.
How does the homebuyers grant work?
The First Home Buyers Grant or First Home Owners Grant (FHOG) was introduced over 20 years ago in 2000 to help first home buyers get into the housing market. The grant is a one-off payment for first home buyers that are eligible to build or buy a home to live in.
The FHOG is a national scheme, and each state and territory has their own eligibility requirements and grant amounts, so to find out more regarding the grant amount and finer details it is a great idea to get in touch with your state scheme to get the full rundown.
As well as the home buyers grants, the new Home Builders grant announced by the Federal Government recently offers additional benefits for those looking to build their own home. The Home Builder scheme offers an additional $25,000 grant for new home builds and renovations from June 2020. To view all the information and eligibility click here.
Why is now a good time to buy a house with the new homebuyers grant?
If you are in two minds about whether or not now is a good time to buy a house with the new homebuyers grant, consider the benefits of being able to use the First Home Owners Grant and the Home Builders grant of $25,000 to create your dream new home.
With the first home owners grant varying based on the state or territory from $7,000 to $20,000 based on the state, the combination of buying a house and also adding in the Home Builders grant if you meet eligibility and are building a new property or renovating is a huge windfall for individuals entering the property market for the first time. View the state-by-state guide for the First Home Owners Grant here.
Combining your state’s First Home Owner Grant, stamp duty concessions, and the Home Builders grant for those looking to build is a unique opportunity to get ahead in the property market.
If you’re in the market to get the most bang for your buck for your first home purchase, now it a great time to buy your new home or build a new home with the First Home Owners Grant.
If you would like to find out more about the best time to buy a house or how to use the first home owners grant to get into your new home, get in touch with Achieve Homes to explore house and land packages and arrange your pre-qualification for the grant. To find out more, explore our house and land packages, display homes and new houses in suburbs across Melbourne and Canberra or check out testimonials from some of our happy customers.