If you have been thinking about building your first home in the Salisbury community, now is an opportune time.
The Government's First Home Owners Grant of $15,000 is available for eligible buyers.
There are criteria surrounding the Grant, so to save you time, we have answered some frequently asked questions below. And as always, if you still have questions, please contact your Sales Agent or builder.
Here is what you need to know about the $15,000 First Home Owners Grant.
About the Grant
If you are a first home buyer you may be eligible for the first home owner grant of up to $15,000 on the purchase or construction of a new residential home in South Australia.
A new home includes a house, flat, unit, townhouse or apartment (and is a home that has not been previously occupied or sold as a place of residence, including a substantially renovated home).
How does it work?
You must sign a contract with an agent or builder and lodge an application with an approved agent such as a financial institution or with Revenue SA.
If you are buying a new house or buying off the plan, it will be paid within 5 days of making the application, but you must own the land and show proof for the grant to be paid.
If you are building a house, it will be paid within 5 days of making the application, but you must show proof that the foundations have been laid for the grant to be paid.
If you require the grant for settlement or want to receive the grant as soon as possible, you must lodge your application with an approved agent.
Your application needs to be made within 12 months of completing the transaction.
What’s the age restriction?
Yes, you must be 18 years or older. You also need to be an Australian citizen or permanent resident.
Can I use the Grant for my holiday home?
No, you must use the Grant for your principle place of residence. You must be an Owner Occupier and you will need to live in the home. No companies or Trusts are eligible for the Grant. The Grant can only be for your very first home that is new (a home that has not previously been occupied or sold as a place of residence).
How much can the house be worth?
The total value of the house and land must not exceed $575000.00
Is the Grant impacted by income?
How do I apply for the Grant?
Your Land Agent, builder, or approved agent can help you through this process. You will need to meet the eligibility criteria.
To find out more, please visit the RevenueSA website.