Use Your Home Buyers Grant to Buy A House and Land Package in Canberra
First home buyers getting into the Canberra home market have some great options when it comes to home buyers grant to put towards buying a new home or a house and land package.
But what grants are available, and how can they be used towards a new home build? In this article, we share the grants available for individuals in the ACT and Canberra, and how first home buyers can save thousands towards their first home.
What grants are available for first home buyers in Canberra
There is a range of grants and initiatives from the government for new home buyers entering the market, in particular, grants for first home buyers which are available in a range of forms for every state and territory across Australia.
Canberra home buyers looking to create the perfect property can, in some cases, take advantage of concessions and grants from the government to help towards the cost of the home.
There are two main grants to help new home buyers purchase a home for the first time, including home buyers concessions (which have replaced the First Home Buyers Grant) and also the new Home Builder scheme.
Home buyers concessions – Every case is unique, however, if you are a first home buyer, you can be eligible for Home buyer concession scheme in the ACT and Canberra. From 1st July 2019, the concession means that first home buyers in the ACT will pay no duty. Eligible properties in the ACT include vacant land and established homes across the ACT at any price. A full list of who is eligible and the finer details for the concessions is outlined on the Revenue ACT website.
Home Builder Grant – this grant is a response to the COVID-19 pandemic and works to provide eligible home owners occupying a property including first home buyers with a grant of $25,000 to help towards building a new home or renovating an existing home. Applicants can find out all the detailed information on the Treasury website.
First home buyers interested in taking advantage of Canberra’s home buyers concessions or other eligible grants should have a chat with their preferred mortgage broker or bank to get a clear idea of what options are available to you.
At Achieve Homes, our custom builders based in Canberra provide a complete building solution for first home buyers and new home buyers. With a wide range of display homes, house and land packages and custom house designs, Achieve Homes works closely with all our clients to ensure the perfect home to match your vision.
If you would like to find out more about how you can use a home buyers grant towards your house and land package or custom build, get in touch today to find out how we can design and build the perfect home in Canberra.