First Home Owners Grant (FHOG):
Frequently asked questions regarding the FHOG are whether the person is eligible and at what point the grant is paid out.
To be eligible for the first home owners grant you must be an Australian citizen or a permanent resident, you or your spouse must not have previously owned property in Australia, you must be at least 18 years of age and you must be buying or building a new home.
With the FHOG your will receive $20,000 grant for a purchase under $750,000 until 30 June 2017.
The most common question about the FHOG is, At What Stage Do I Receive the Payment?
- For a house being purchased that is already built and yet to have been lived in, the grant is paid out at settlement.
- For an off the plan purchase or a house being built the grant is paid at the slab down stage of the build, this means you will be required to pay any deposit due to the builder prior to this point.
For further details follow the link to Queensland Government FHOG page - https://firsthomeowners.initiatives.qld.gov.au/
Or for any further questions about the First Home Owners Grant or if you wish for some advice on planning your deposit call John from Mortgage Choice Geebung today on 07 3833 9666 or email firstname.lastname@example.org
If you have found this information helpful or think it can help friends or family, please feel free to pass on John's contact details.