WHAT IS REQUIRED TO QUALIFY?

To qualify for the grant, you and your spouse (or whoever you are buying the home with) must both be first home buyers. For example, if you are a first home buyer, but your spouse previously owned a home with his or her ex-spouse, then you would not qualify for the grant. Additionally, this is a one-time grant. Once you claim it, you can never qualify for it again.

You must also be a citizen of Australia who is purchasing a home in Australia. If you are buying a property with a spouse or group of people who are not citizens, but you are, you may still qualify for the grant depending on the rules in your state. You may qualify even if only one or two people purchasing the home are current citizens. This may be something that those thinking about joint tenancy need to consider. Joint tenancy can be a way for those who may not be able to afford a home on their own to pool their resources with others in the same situation.

The minimum age requirement for this grant will vary depending on your state. If you are a young home buyer, you can contact your state department to determine if you qualify for this grant.

It is important to note that the residence you are purchasing must be used as your primary residence. You will not qualify for this grant if the home you are buying is a home you plan to re-sell quickly, rent out to tenants, or use as a seasonal vacation home. You must also be able to move into the residence no later than 12 months after settlement and there will be minimum occupancy requirements defined by your state.