Buying your first home

Is it time to stop renting?

Buying your first property is probably the most important decision in your life. It will impact on your finances, your lifestyle choices and done right, give you a concrete base to call home. You’ll never have to worry about another rent inspection again!

When considering buying your first home, we strongly recommend you start practicing good debt repayment and responsible spending. The better you are as a candidate and the more financially responsible you appear, the easier it will be to gain finance. When owning your own home, you will be responsible for the debt servicing as well as costs for repairs on the property so having a comfortable grip on your finances will make your life much easier in the long run.

Once you feel ready to undertake the home ownership process, it’s important you find a solution that matches your needs and suits your lifestyle. That’s where we come in. At Simpli Finance, our aim is to keep the process simple. We handle the research, document compilation, liaising with the lender from day 1, all the way through to settlement.

We also have access to a diverse pool of lenders, including major banks and non-bank lenders, allowing us to ensure we find finance that meets your needs.

First Home Owners Grant

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Do you know about the First Home Owner Grant (FHOG)?

The Australian government wants to see everyday Aussies in their very own homes. They pledge various grants state-by-state to help Australians gain the funds needed to build or buy their first home.

For more information about the First Home Owner Grant, from what it is, to the eligibility criteria, what the differences are in each state, how much you could receive, and when the grant gets paid, we have included helpful links below.

If you would like more information on how our team can help you, contact us today.

If you’re a first home buyer and you’re buying or building a new home, you may qualify for a grant under the First Home Owner Grant (New Homes) scheme if you purchase date was on or after 1 January 2016.

You can make a claim for the First Home Owner Grant if your:

newly constructed home or a substantially renovated home has a total value less than $600,000
land for building and any dwelling you intend to build has a combined value less than $750,000.

To receive the grant when you buy your home:

  • you must be an individual, not a company or trust
  • you must be over 18
  • you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
  • your purchase date must be on or after 1 January 2016.

Generally, you won’t be eligible for the First Home Owner Grant if you or your spouse:

  • have previously owned or co-owned a home in Australia or
  • have received an Australian first home owner grant.
  • You may still be eligible if you purchased a residential property after 1 July 2000 and didn’t live in it for more than six continuous months.

You or one of the other first home buyers who purchase with must move into the new home within 12 months after buying the property, and live there for at least six continuous months.

If you’re buying land and building a new home, you must move in within 12 months after construction is complete.

If you’re a member of the Australian Defence Force you may be exempt from the six-month residence requirement, provided all buyers are on the state electoral roll.

What’s considered a ‘new home’?
If you’re buying an existing home, you can apply for the grant if:

  • this is the first time the house has been sold and
  • the house has never been lived in before you move in, including by the builder or a tenant.

Recently renovated homes
Your home is also considered new if it has been substantially renovated before you buy it. You might be eligible for the grant if:

  • most or all of the house was removed or replaced
  • this is the first time the home has been sold after those renovations
  • it hasn’t been lived in since being renovated, including by the builder or a tenant.

Contact Us

Our team will help you search, choose and settle your loan. Chat to one of our loan specialists at a time that suits you.

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1300 322 866

Email
info@simplifinance.com.au

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