First Home Owners Grant and Assistance in Tasmania

In Tasmania, eligible first home owners can get $10,000 or $20,000 when buying or building a new home. It is not available for established homes.

The base amount for the First Home Owners Grant is $10,000 but until 30 June 2018, first home owners may be eligible for the First Home Builder Boost which is another $10,000.

For a property or transaction be eligible for the FHOG and FHBB, it must be one of the following:
– a comprehensive home building contract for a new home
– the building of a new home by an owner builder (this includes the relocation of a new movable building) or
– a contract for the purchase of a new home, for example, a spec. home or an off-the-plan purchase of a new home.

Other eligibility and criteria apply including the fact the transaction must be completed within 24 months of the contract commencing or if being done by an owner builder, within 24 months of the foundations being laid.

To find out more, click here for the First Home Owners Grant and here for the First Home Builder Boost.

If you’d like to discuss your home loan options and get assistance with the process of applying for your first home plus the FHOG and FHBB, click here to make an enquiry and be connected with a MoneyQuest broker in your area.

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