Buying your first home is an exciting milestone and the Victorian First Home Owner Grant (FHOG) is designed to help ease the process.
What is the First Home Owner Grant?
The FHOG is a government initiative designed to support first-time buyers entering the property market. It provides a financial boost to help with the upfront costs of purchasing land with the intent to build, buying off the plan, or purchasing a newly built home. In Victoria the grant amount is $10,000 and is a valuable tool for first-home buyers looking to get started sooner.
Who is Eligible?
To qualify for the FHOG, applicants generally need to:
- Be a first-time home buyer
- Be an Australian citizen or permanent resident
- Move into the home within 12 months of purchasing, and be your place of residence for 12 months
- Value of the property purchase must be $750,000 or less
- Purchase a newly built home, a home off the plan, or vacant land intended for building a new home
It’s always best to check the specific rules in your state to ensure you meet all eligibility criteria, however using the grant wisely can reduce upfront costs and make building your dream home more achievable.
Why Watsons Reach is Perfect for First-Time Buyers
Watsons Reach offers first-home buyers the chance to secure land in a welcoming, growing community with a fantastic range of lot sizes available. With nearby schools, parks, shopping and convenient access to Sunbury and Melbourne, it’s an ideal place to start your homeownership journey. By combining the FHOG with an early land purchase, first-time buyers can maximize both financial benefits and lifestyle advantages.
Talk to the team today to see which lots and house and land packages could assist you in qualifying for the first home owner grant.
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