IN A STATEMENT from the State Treasurer, Tim Pallas, in April, the Victorian Government announced the $20,000 regional First Home Owner Grant (FHOG) would be extended for a further 12 months to June 30, 2021.
The regional grant, which had been due to end in June this year, was extended to assist Victorians through the Coronavirus pandemic.
“We know the Coronavirus pandemic is making it even tougher for young people to achieve their dreams of homeownership. That’s why we’re extending the grant, which has helped so many regional Victorians,” Mr Pallas said.
“Owning your own home shouldn’t be a pipe dream. We’re helping out with the financial kick-start they need to make it a reality.”
The extension gives more Victorians the opportunity to continue to live locally and enter the property market for the first time, while channeling work to the regional building and construction industries as we continue to deal with the economic impacts of the Coronavirus pandemic.
To be eligible for the FHOG, the purchaser (or purchasers) must be first home buyers buying or building a property valued at under $750,000, which must also be their principal place of residence for a minimum of 12 continuous months following settlement.
The grant is available for first home purchases across 48 regional councils, including Shepparton, Benalla, Campaspe, Moira, and Strathbogie shires.
The First Home Owner Grants are only available for a limited time, and with demand on the rise, the potential for land availability to move into short supply is likely to happen quickly.
To take full advantage of the current government grants available, applicants must be:
- Over 18 years of age
- An Australian Citizen or Permanent Resident
- Be planning to live in your home for the next twelve months
- Have never owned a residential property in Victoria or anywhere else in Australia
- Have never received the grant anywhere in Australia before
To check your eligibility or apply for the First Home Owners Grant, visit: https://www.sro.vic.gov.au/fhogapply
