Dreaming of owning your first home in Victoria? You're not alone. But guess what? There's good news on the horizon—a First Home Buyers Grant can make that dream a reality. Here's the lowdown on how to snag that grant and step into your new home.
Eligibility: Are You In?
First things first, you need to check if you’re eligible. To qualify, you must:
- Be at least 18 years old.
- Be an Australian citizen or permanent resident.
- Have never owned property in Australia before.
- Plan to live in the home for at least 12 months within a year of purchase.
The Grant: What's in It for You?
In Victoria, first home buyers can get up to $10,000. If you’re buying in regional Victoria, you might be eligible for an extra boost. That’s a decent chunk of change to help with your deposit or those pesky moving costs.
Steps to Apply: Getting the Ball Rolling
- Find Your Home: Whether it’s a new home, a house and land package, or an off-the-plan property, make sure it fits the grant criteria.
- Gather Your Documents: You’ll need proof of ID, your contract of sale, and proof of residency.
- Lodge Your Application: Apply through your lender or directly with the State Revenue Office (SRO). Your lender can often help streamline this process.
- Wait for Approval: The SRO will assess your application. If approved, the grant will usually be paid at settlement.
Handy Tips
- Do Your Research: Different states have different rules. Make sure you're up to speed with Victoria’s specific requirements.
- Ask for Help: If you’re stuck, reach out to experts. FHBA can offer guidance to ensure you’re on the right track.
For more details, visit FHBA or give them a ring at 1800 342 287. Happy house hunting!
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