As of July 2000, the Australian Government introduced the First Home Owners Grant (FHOG) to offset the GST on housing purchases. The FHOG sees eligible Australians receive a one-off payment of $7,000 towards the purchase of their first home, ultimately making the process of financing and affording your first home more affordable and viable.
Funded by the Federal and State/Territory governments and administered under their individual legislation, the FHOG has seen a massive spike in first home purchase affordability. There are restrictions on the FHOG Australia wide whereby once construction or settlement is finalised, receivers for the First Home Owners Grant must be permanent residents of that home for a minimum of 6 months. Once that 6 month period is up, the property is free to be leased, sold or continued to be lived in at the owner's discretion.
While each state and territory has their own government administrative legislations on the FHOG, Money Choice can help you organise your application and finances so that the purchase of your home is viable and within you financial limits.
The professional financiers at Money Choice can assess your real estate choices and place you in the most advantageous place in the market at the time. By developing your investment, Money Choice can help you see a much more prosperous growth of your home revenue, ultimately making you money on your purchase. Through the First Home Owners Grant home buyers have a much more accessible avenue to purchasing their first home.
Money Choice is the best avenue to organising your investment and lodging your FHOG application. For more information or to speak to one of our expert First Home Owners Grant specialists, contact Money Choice on 1300 625 626.
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