New year; new homebuyers rejoice! First home buyers grants will increase to $15000 moving into 2017. The Liberal Government has announced that the First Home Owners Grant will be increased from $10,000 to $15,000 in 2017 with the grant being eligible from 1st January to 31st December.
The grant is a one-off payment from the government provided to eligible first home buyers in order to assist with purchasing a home and can also include a concession on council rates and taxes for the new property.
With increasing property prices throughout Australia, the shift in the grant seems logical in order to allow new property buyers the chance to break into the market. The boost would stimulate 2000 new construction jobs in Western Australia alone with 650 new home buyers now having the opportunity to purchase a property.
The eligibility of the grant based on purchasing value is:
Has the idea of purchasing your first property been at the back of your mind for a while? Or perhaps now could be the best time to purchase a property and take advantage of this grant. Getting the right loan could save you thousands each year. At Pioneer Credit, customer service is at the forefront of our minds and with this commitment; we will find you the best home loan for your situation and guide you through your first home buying experience.Enquire for your first home loan here