Below is a collection of questions related to the First Home Buyers Grant. If an answer to your question does not exist below, please call now on 1300 METRICON or complete our online enquiry form!
This information is provided in good faith but Metricon is not responsible for any changes or errors. Customers are advised that they must satisfy themselves as to the availalbe grants before entering into any contract with Metricon.
-
1. What is the current First Home Buyers Grant? (as of 1 October 2009)
-
For First Home Buyer’s that purchase an existing home, you are entitled to a Government Grant of $12,500. This is made up by $10,500 from the Federal Government and $2,000 from Victorian Government.
For those FHB who decide to build a new home you will be entitled to receive a grant of $25,000. This is made up of $14,000 from the Federal Government and $11,000 from Victorian Government.
-
2. Is it different in regional areas?
-
Yes. The Victorian State Government Grant for new home construction is increased to $15,500, so the total amount available is $29,000.
-
3. Are these grants forever?
-
4. Am I eligible?
-
To be eligible you must:
- be at least 18 years of age
- be an Australian citizen or permanent resident
- previously not have received this grant or have a spouse (or de facto) who has received this grant
- not have previously owned a home, or have a spouse (or de facto) who has previously owned a home, in Australia
- you must enter into a contract to purchase or construct a home between 1 October 2009 and 31 December 2009
- live in the home for a continuous period of at least 6 months, commencing within 12 months after completion or settlement
For more information visit www.australia.gov.au/boost
-
5. How do I apply for these grants?
-
They are administered by state and territory governments.
Application forms for the Boost are available on state and territory revenue office websites and must be lodged within 12 months of completion or settlement. If you need help, our highly experienced Metricon Finance Consultants will offer you free advice if you call 1300 METRICON
-
6. How will I be paid?
-
For a new home, the grants will be paid upon completion. In most cases, this is when a certificate of occupancy is provided. If you decide to utilise Metricon’s Finance Consultants to secure you an appropriate loan they will happily fill out all this paper work for you!
For an existing home, the grants will be paid on settlement.
If you provide express consent, the Boost could also be used to offset against statutory levies and charges, for example stamp duty.
-
7. Does the price of the home need to be under a limit for the first home buyers to receive the First Home Owner’s Grant?
