Frequently asked questions about FHOG NT
How much is the First Home Owners Grant in the NT?
Prior to 7 May 2019, the FHOG NT was worth $26,000 for new homes. However, if you buy or build a new home after 7 May 2019, the First Home Owner Grant NT reduces to $10,000. Your income and the price of your home don’t affect the FHOG NT, and the grant is available if you buy or build a new house, apartment, duplex or townhouse.
What is a BuildBonus grant?
April 2021 Update: Applications for BuildBonus grant are now closed.
Along with the FHOG NT you may also be eligible for the BuildBonus grant.
The BuildBonus grant was launched in February 2019, and it is available if you are buying or building a new home in the Northern Territory – you will need to have signed a contract to build or buy a home, or have started construction as an owner builder on or after 8 February 2019 to be eligible.
The grant is worth $20,000 for all contracts signed before the 31st of December 2020 and $12,000 for contracts signed between 1 January and 31 March 2021.
What is the household Goods Grant scheme?
First home buyers in the Northern Territory who buy or build a new home can also take advantage of the Household Goods Grant scheme. When you buy a new property as your first home, the grant can be worth up to $2,000 to help you buy household goods such as a fridge, kitchen appliances, furniture or general items such as towels, sheets and kitchenware.
What is the Home Renovation grant?
April 2021 Update: Applications for Home Renovation grant are now closed.
Although the FHOG NT is only available for new homes, if you choose to buy an established home you may be able to claim a $10,000 Home Renovation grant.
This grant is only available if you purchased your first home after 1 September 2016, and the funds can be used to renovate or improve your home. Applications for the Home Renovation grant close on 30 November 2020.
Am I eligible for a First Home Owners Grant in NT?
There are a few rules to be eligible for the First Home Owner Grant in NT, these conditions are:
- You must be applying for the FHOG (anywhere in Australia) for the first time.
- You need to be aged 18 or over and be a natural person (not a company or trust)
- You’ll need to live in your first home for at least six months within 12 months of purchase.
- You must not have owned residential property in Australia before 1 July 2000.
- You must not have owned residential property on or after 1 July 2000, which you have lived in.
How to apply for First Home Owner Grant NT
Applying for the First Home Owner Grant in the Northern Territory is easy, and your Mortgage Choice broker can guide you through the paperwork. Here’s a form you can fill out to start the application process. Simply fill out the form below and a local expert will be in contact with you shortly
Are first home buyers in the NT exempt from stamp duty?
Although the FHOG NT is only available for new homes, as a first home buyer in the Northern Territory, you could pocket savings on stamp duty even if you buy an established home.
The Territory’s First Home Owner Discount has been in place since 8 February 2019. It lets you save up to a maximum of $18,601 on the cost of stamp duty. The savings is available whether you buy a new or established home as long as the home is valued under $650,000.
What is HomeBuild Access?
The NT Government also funds a home loan package called HomeBuild Access. This scheme helps low to middle income earners achieve the security of home ownership, and offers two loan products targeted at the construction of new dwellings. The following purchase price limits apply to both Homebuild Access loan products:
3 or more bedrooms
Purchase price limit
How do you Buy Your First Home?
There are many different ways you can go about buying your first home. The best way is to get in touch with a Mortgage Broker, who can show you the State Grants that you're eligible for and can help with your home loan application. Check out our Steps to Buying your First Home for more information on how to buy your first home.