Exciting Updates to the First Home Owner Grant: Unlock Your Path to Homeownership

The Australian government’s recent announcement about changes to the First Home Owner Grant presents a fantastic opportunity for aspiring homeowners. These changes, effective for eligible transactions between 20th November 2023 and 30th June 2025, aim to make homeownership more accessible than ever.

Who Can Apply?

To qualify for the grant, applicants must meet the following criteria:

• Be at least 18 years old.

• Be an Australian citizen or permanent resident, or apply with a partner who meets these qualifications.

• Neither the applicant nor their spouse can have previously owned property in Australia that was used as their primary residence.

What Does the Grant Cover?

This grant is available exclusively for the purchase or construction of a brand-new home, supporting the government’s focus on stimulating the housing market and boosting new home construction.

To ensure accessibility, the total value of the property (including land) must not exceed $750,000.

Residency Requirements

Once your new home is ready, you’ll need to:

• Move in within 12 months of the transaction being finalized.

• Live in the property as your principal place of residence for at least six continuous months.

Why This Matters

These updates represent a golden opportunity for individuals and families to step into the property market. By providing financial support and encouraging the construction of new homes, the government is empowering more Australians to achieve the dream of homeownership.

At Living Homes, we’re here to help you take full advantage of this grant. Whether you're looking to build your first home or explore affordable options, our team is ready to guide you through the process.

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