The recent doubling of the First Home Owner Grant (FHOG) in regional Victoria is welcome news, so talk to our Geelong home loans specialists to see whether you will qualify for the $20,000.
With competition for houses and land high and prices still rising, the July 1 grant increase is a helpful boost for people wanting to make the move from renting to ownership in regional Victoria. The FHOG, however, remains at $10,000 for first-home owners wanting to build or buy in Melbourne.
At Konnect Financial Services, we know it is a battle for many to buy their own home. We’ve helped people on the coast and across the region source and secure excellent Geelong home loans to turn their home-ownership dream into a reality. Matching each client to the right loan for their circumstances is our passion and we are here to help.
The FHOG increase for new homes built in Victoria’s regional areas will make the task of achieving home ownership that little bit easier for many people.
The grant, which has increased from $10,000 to $20,000, applies to new homes valued up to $750,000 that have contracts signed between the start of this month to June 30, 2020.
The property can’t be for investment purposes or for use by you and your family as a holiday house. Successful applicants must meet a range of other important FHOG eligibility criteria as well.
With all the costs that come with buying or building a house, the grant boost will make the path smoother for people to achieve their first home. Under the grant, the term ‘new home’ includes:
- Houses that have just been built;
- House and land packages;
- An empty block that you will build a new home on;
- A property that’s being sold for the first time as a new residence;
So do you qualify for this regional Victoria grant boost? How do you apply for the grant? Are there any exemptions if you fall just outside some of the criteria? And what sort of home loan is best to help you to morph from a keen house hunter into an official first-home owner?
Konnect Financial Services has the expertise and experience to make navigating the home loans industry and the FHOG scheme an easier process. We can sit down with you to discuss your potential eligibility for the grant, and tailor a home loan that fits comfortably with your goals, lifestyle and financial situation.
We are industry leaders in finding Geelong home loans for our clients from hundreds of great options by premier Australian lenders. So use our knowledge to make the exciting step of owning your first home easier.
Please contact us for assistance with information and eligibility on the FHOG scheme and home loans in general.