How To Buy Your First Home Victoria

Your first home can be a house townhouse apartment unit or similar.

How to buy your first home victoria. First home buyer duty exemption or concession contracts dated on or after 1 july 2017 if you enter into a contract to buy your first home on or after 1 july 2017 you may be eligible for a one off duty exemption for a ppr valued up to 600 000 or a concession for a ppr with a dutiable value from 600 001 to 750 000. First home owner grant doubled in regional victoria. Buying your first home in a strong growth market like melbourne is hard but not impossible. If the home is being sold by private sale you need to make an offer in writing. First home owner grant fhog for new builds.

If you are buying a home in regional victoria and you are eligible for a first home owner grant you may qualify for a first home owner grant of 20 000. This increased first home owner grant will be available for regional first home buyers of new homes valued up to 750 000. Arrange for a registered building practitioner to inspect a potential home and provide a report. Here are some examples of best prospects. Add up your extra costs such as stamp duty conveyancing fees inspection fees and rates.

The fhog is 20 000 for new homes built in regional victoria for contracts signed from 1 july 2017 to 30 june 2021 read information about fhog amounts available before 1 july 2013. Know what concessions or grants you qualify for. Victoria has two options for their first home owner grant fhog. Find out in this comprehensive guide. Buying your first home is an exciting time but it can also be challenging if you don t know where to start.

Have a conveyancer solicitor inspect the contract of sale which includes a section 32 statement. A payment of 10 000 is available to eligible first home buyers who buy or build their new home valued up to 750 000. A 10 000 first home owner grant fhog is available when you buy or build your first new home. An additional 10 000 equalling a grand total of 20 000 is available to people looking to buy homes up to 750 000 in regional victoria for leases signed between 1 july 2017 and 30 june 2020. In victoria first time home buyers purchasing properties valued up to 750 000 are eligible for a 10 000 grant.

The state revenue office has a complete list of all concessions and discounts for first home buyers in victoria including.