Even during the time of Covid-19, the young and new buyers are quite optimistic about their first house purchase. The recent cut in the rates has started to encourage them to buy their dream homes and make moves in the market. The First Home Owner Grant ( FHOG ) and the First Home Loan Deposit Scheme ( FHLDS ) are the two major initiatives taken by the Australian government to provide ease to the first home buyers. These are the national schemes administered under their legislation. The schemes are funded by the states and territories.
The new home buyer has to move into the property in six to twelve months and should be the first Home Buyer in Australia
The buyer also has to stay in the property for six consecutive months.The first home buyers are also exempted to pay any stamp duty on homes up to the evaluation of $650,000.
So, what are you waiting for? Take the first step towards your dream home today.