First Home Owners Grant SA
The South Australia First Home Owner Grant (SA FHOG) is a South Australian state government initiative to help first home owners to get a newly constructed first home sooner. It is an amount of money paid by the South Australian government to eligible first home owners.
Learn more about the SA FHOG as well as other South Australian government financial assistance measures for first home buyers.
What is the current First Home Owners Grant?
The South Australian FHOG is currently $15,000 for eligible first home buyers. It applies to the construction or purchase of a new residential property, including a house, unit, flat, apartment or townhouse that meets local planning standards anywhere in South Australia.
It’s important to note that Grants and Stamp Duty concessions can change often with minimal notice, so before committing to any purchase of your first home ensure you confirm the exact entitlements available.
Who is eligible for the First Home Owners Grant?
- First home buyers are generally eligible for the South Australian FHOG if:
- At least one of the applicants must be an Australian citizen or have permanent residency in Australia. Some New Zealand Visa holders may also be eligible.
- All applicants must not have previously owned a residential property anywhere in Australia prior to 1 July 2000.
- All applicants must not have owned a residential property anywhere in Australia on or after 1 July 2000 and occupied that property continuously for six months or more.
- All applicants must occupy the home purchased or built as their principal place of residence for a continuous period of at least six months commencing within 12 months after completion of the eligible transaction.
- Each applicant must be a natural persons (i.e. not a company or trustee).
- Each applicant must be at least 18 years of age at the time of making application for the First Home Owners Grant.
- The property must meet the definition of being a ‘new’ home.
- The market value of the home is $575,000 or less
- If you’re building your first home, the sum of the building contract and the land value is taken into account.
What is considered a new home for the First Home Owners Grant in SA?
Any new fixed dwelling that is suitable as a residence, for example, a single dwelling (house), duplex, flat or townhouse. FHOG is not available in relation to renovations to an existing property or the purchase of vacant land.
Owner builders can apply for FHOG after the foundations have been laid and must apply within 12 months of the property being ready for occupation. There is no specific time frame to complete construction of the home.
How do I apply for the First Home Owners Grant?
Applying for the FHOG and any potential stamp duty concessions can be difficult if you haven’t received assistance. You can either apply for the First Home Owners Grant in SA by yourself or through an approved agent. Adelaide Broker’s mortgage brokers are approved agents who can help assist with the entire application process at no cost.
Our brokers have completed hundreds of FHOG applications and can complete and have your FHOG generally applied for and approved faster. In our office we have copies of the latest FHOG application documentation on file.
Our service is free of charge and included when we help first home buyers apply for their home loan. This means not only can we make it easier when applying for the FHOG, we will also be able to help you save money on your first home loan. Through our service you will be able to be assured that nothing is being missed and that your FHOG and home loan is setup correctly.
What if I want to buy an established home instead of building?
If you are thinking of purchasing an existing home which has been lived in by other occupants previously then unfortunately you will not be eligible for the SA FHOG or transfer duty concessions. If the property however is established but otherwise never occupied previously, you would potentially be eligible to receive the grant – this is seen commonly by property developers and home builders who build homes for sale at completion. Stamp duty is calculated at a different rate than if you were to build a house and land package so there are pros and cons of this method – so speak to our brokers who can calculate the exact differences for you before you make a decision.
If you would like to purchase an established home and need assistance in understanding how much deposit is required, home loan repayments and what the best home loan deals are, contact Adelaide Broker today for a no-cost discussion with Adelaide’s most experienced mortgage brokers.