How To Buy Your First Home Victoria

Buying your first home is an exciting time but it can also be challenging if you don t know where to start.

How to buy your first home victoria. 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. Buying your first home in a strong growth market like melbourne is hard but not impossible. A payment of 10 000 is available to eligible first home buyers who buy or build their new home valued up to 750 000. In victoria first time home buyers purchasing properties valued up to 750 000 are eligible for a 10 000 grant. First home owner grant fhog for new builds.

If the home is being sold by private sale you need to make an offer in writing. If you are buying your first home in victoria here are some essential facts you need to know as the victorian government has made some changes recently. First home owner grant doubled in regional victoria. First home buyer s guide for victoria. Arrange for a registered building practitioner to inspect a potential home and provide a report.

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. Victoria has two options for their first home owner grant fhog. The state revenue office has a complete list of all concessions and discounts for first home buyers in victoria including. 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. Your first home can be a house townhouse apartment unit or similar.

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. Why first home buyers don t need to compromise. Add up your extra costs such as stamp duty conveyancing fees inspection fees and rates. Find out in this comprehensive guide. Have a conveyancer solicitor inspect the contract of sale which includes a section 32 statement.

This increased first home owner grant will be available for regional first home buyers of new homes valued up to 750 000.