The First Home Owner Grant is a scheme created and funded by the Government. However, it is implemented and administered by each state. Basically, this scheme grants $7000 to first time home buyers who are eligible for the grant.
You are eligible if you are an Australian citizen or permanent resident of Australia. The grant does not provide income restrictions as long as you meet the requirements and you intend to use the house as your primary residence. In most cases, you can apply for the grant through your lender. Lenders act as agents for the government. If your application is granted, the funds will be available to you at settlement or at first payment.
Over the years, the number of first time homebuyers is in its all-time high. With the interest falling over the last year, the government has noticed a noticeable increase in FHOG applications. With the RBA dropping the interest rate to 2.75%, it is likely that the number of applications will increase further. Recently, state governments have announced an increased in the amount of First Home Owner Grant. The Victorian government, for instance, has increased the grant from $7000 to $10000 for newly constructed homes. All great news! But what if you have missed out on the new increased? What if your contract was finalized before the government announced the boost? Can you change the date of your contract just so you can avail of the grant increase?
It sure is annoying to miss out on a great opportunity like this. A couple of thousand dollars can really help with your mortgage payments. It can be tempting to change the date of your contract just so you can avail of the increase - but make no mistake. It is illegal to do this. You cannot change the date because you will be violating ฝากขายบ้าน a law against this. You will be "availing of a property through deception". If the idea is suggested by your real estate agent or conveyancer, they, too, can be charged with a criminal offence. Your contract may be declared invalid and your mortgage approval will be withdrawn. If this happens, you wouldn't be able to proceed with the purchase. So, if you are thinking of changing the date of the sales contract in order to qualify for the boost, don't do it.
Just make sure that you are investing in a good home for you and your family, so every penny will be worth it. And remember, you can ensure your peace of mind if you get a property inspection before settlement. Get the home inspected even if it's a new house or even if you had it built. Make sure that you would be getting your money's worth.
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