1st Time Buyers Grant

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1st Time Buyers Grant
Topic Started: Apr 25 2007, 07:05 AM (332 Views)
cathnpaul	Apr 25 2007, 07:05 AM Post #1
Moderator - Croc. the yellow ribbon is for Maddy.x Posts: 464 Group: Members Member #21 Joined: October 29, 2006	I am aware that we are classed as first time buyers and that we are entitled to about $7k which has to be claimed within the first year. I am also told that the mortgage people automatically include it in the figures, but want to double check criteria etc. Does anyone have any further information surrounding it??
	LATE JUNE 2007, IS THE START OF <span style='font-family:Arial'>A NEW LIFE DOWN UNDER</span>


Paul	Apr 30 2007, 02:30 AM Post #2
Croc Posts: 270 Group: Members Member #110 Joined: March 27, 2007	Not too sure about the 1 year rule you've quoted. As far as I'm aware it lasts until you claim it. Things do change though. Best ask a mortgage broker on the other one. Paul. PS - I'm getting orders for this now - useful e-book if you want it. Go to http://www.koalakonnection.com.au and order your "20 things" copy. It's free.



Paul	Apr 30 2007, 06:09 AM Post #3
Croc Posts: 270 Group: Members Member #110 Joined: March 27, 2007	Found this - copied from a reliable source. This is a fantastic bonus for settlers from overseas when buying or building their first home in Australia. The First Homeowner Grant was introduced in Queensland in 2000 to assist first time buyers getting on the property ladder as house prices spiralled upward in the property boom. The value of the grant is $7000, which is a good contribution towards the costs involved in buying. As long as you have permanent Australian residence status, plan to use the property as a principal place of residence within 12 months of purchase (or completion if building), are over 18 and have never owned a property in Australia after 1st July 2000, you should be eligible (there are a few exceptions - aren’t there always, but these are mostly related to getting financial help from a relative towards the purchase/building costs). It is worth noting that if you buy land, the grant would not be payable until you start to build at the earliest, whilst it is payable at settlement stage if you buy an existing property. Paul.



cathnpaul	Apr 30 2007, 08:37 AM Post #4
Moderator - Croc. the yellow ribbon is for Maddy.x Posts: 464 Group: Members Member #21 Joined: October 29, 2006	Paul Apr 30 2007, 04:09 PM Found this - copied from a reliable source. This is a fantastic bonus for settlers from overseas when buying or building their first home in Australia. The First Homeowner Grant was introduced in Queensland in 2000 to assist first time buyers getting on the property ladder as house prices spiralled upward in the property boom. The value of the grant is $7000, which is a good contribution towards the costs involved in buying. As long as you have permanent Australian residence status, plan to use the property as a principal place of residence within 12 months of purchase (or completion if building), are over 18 and have never owned a property in Australia after 1st July 2000, you should be eligible (there are a few exceptions - aren’t there always, but these are mostly related to getting financial help from a relative towards the purchase/building costs). It is worth noting that if you buy land, the grant would not be payable until you start to build at the earliest, whilst it is payable at settlement stage if you buy an existing property. Paul. http://www.firsthome.gov.au/ Bit more detailed info. Additional First Home Owners Grant information On 9 March 2001, the Commonwealth Government announced an additional $7,000 grant where a first homeowner builds their first home or purchases a new, but previously unoccupied home. On 9 October 2001 the Prime Minister announced variations to the terms and conditions of this additional grant, which ceased on 31 December 2001. As from 1 January 2002 until 30 June 2002 inclusive, the additional grant will be reduced to $3,000. This is the queensland info: http://www.osr.qld.gov.au/fhog/index.shtml The 12 month expiry is here Paul, someone of another forum experienced it and brought it to the light of others about a year ago: you must lodge your application within one year after the transaction has been completed, or your application will be refused. (The Commissioner may extend this date in certain cirumstances)
	LATE JUNE 2007, IS THE START OF <span style='font-family:Arial'>A NEW LIFE DOWN UNDER</span>


airconkid	Apr 30 2007, 09:10 PM Post #5
MODERATOR- Great White Posts: 639 Group: Members Member #25 Joined: November 14, 2006	cathnpaul Apr 30 2007, 09:37 AM Paul Apr 30 2007, 04:09 PM Found this - copied from a reliable source. This is a fantastic bonus for settlers from overseas when buying or building their first home in Australia. The First Homeowner Grant was introduced in Queensland in 2000 to assist first time buyers getting on the property ladder as house prices spiralled upward in the property boom. The value of the grant is $7000, which is a good contribution towards the costs involved in buying. As long as you have permanent Australian residence status, plan to use the property as a principal place of residence within 12 months of purchase (or completion if building), are over 18 and have never owned a property in Australia after 1st July 2000, you should be eligible (there are a few exceptions - aren’t there always, but these are mostly related to getting financial help from a relative towards the purchase/building costs). It is worth noting that if you buy land, the grant would not be payable until you start to build at the earliest, whilst it is payable at settlement stage if you buy an existing property. Paul. http://www.firsthome.gov.au/ Bit more detailed info. Additional First Home Owners Grant information On 9 March 2001, the Commonwealth Government announced an additional $7,000 grant where a first homeowner builds their first home or purchases a new, but previously unoccupied home. On 9 October 2001 the Prime Minister announced variations to the terms and conditions of this additional grant, which ceased on 31 December 2001. As from 1 January 2002 until 30 June 2002 inclusive, the additional grant will be reduced to $3,000. This is the queensland info: http://www.osr.qld.gov.au/fhog/index.shtml Me on a Blonde moment I think. So now you only get $3k instead of $7k???? Hmmmmmmmmmmmm.....must do more calculations, me thinks.. Aircon
	Grab the cane toad by the legs and go for it, life is too short to wander "What if...." or "If only...." Now LOVING *"A New Life Down Under"*


Paul	May 2 2007, 12:36 AM Post #6
Croc Posts: 270 Group: Members Member #110 Joined: March 27, 2007	Well, we got the $7k grant and we completed in March 2006. I think it's fine not to worry. Paul.



airconkid	May 2 2007, 06:51 PM Post #7
MODERATOR- Great White Posts: 639 Group: Members Member #25 Joined: November 14, 2006	Paul May 2 2007, 01:36 AM Well, we got the $7k grant and we completed in March 2006. I think it's fine not to worry. Paul. No worries!!! Thats my attitude from now on Paul Aircon
	Grab the cane toad by the legs and go for it, life is too short to wander "What if...." or "If only...." Now LOVING *"A New Life Down Under"*


Paul	May 2 2007, 11:41 PM Post #8
Croc Posts: 270 Group: Members Member #110 Joined: March 27, 2007	Sorry mate, but you'll be doing a lot of that when you're over here, no matter what you may believe now! The Aussies invented it because nothing ever seems to get done on time and the way that you like it. It must be a European thing. Lose the Euro attitude and then you'll truly have no worries. And then you'll have no phone, no power... just for a few days longer than you thought comfortable. Another of their favourites is "she'll be right". Don't get me started... P.



airconkid	May 3 2007, 07:01 PM Post #9
MODERATOR- Great White Posts: 639 Group: Members Member #25 Joined: November 14, 2006	Paul May 3 2007, 12:41 AM Sorry mate, but you'll be doing a lot of that when you're over here, no matter what you may believe now! The Aussies invented it because nothing ever seems to get done on time and the way that you like it. It must be a European thing. Lose the Euro attitude and then you'll truly have no worries. And then you'll have no phone, no power... just for a few days longer than you thought comfortable. Another of their favourites is "she'll be right". Don't get me started... P. You HAVE to go with the flow, mate!!!!!!!!!!!!!!!y If it don't get done, it don't get done, right?? I'm STILL waiting for a telephone interview, from a Manager of a Brissie branch of an Oz. wide fridge/aircon company............... Think I'll be meeting him in person before he gets round to phoning me...LOL Aircon
	Grab the cane toad by the legs and go for it, life is too short to wander "What if...." or "If only...." Now LOVING *"A New Life Down Under"*


Paul	May 4 2007, 01:11 AM Post #10
Croc Posts: 270 Group: Members Member #110 Joined: March 27, 2007	If I was you I'd phone... He's obviously 'forgotten'.... But then again air-con is such a big thing over here I doubt much you'll be having a problem finding work. Since you plan taking on Cath as your apprentice I guess you've already got life pretty much mapped out. :lol: Paul. PS Does she have a say in this? PPS Best not use "Cath & Dave" as part of the business name i.e. "Cath & Dave - Fastest Frosty Freezers on the Coast". Too close to "Chas & Dave" if you ask me and you don't want to be mistaken for performing live every Friday night behind a piano. Or growing a beard and wearing a flat cap. PPPS Can we please get this thread back on its rightful and proper course!



cathnpaul	May 4 2007, 05:47 AM Post #11
Moderator - Croc. the yellow ribbon is for Maddy.x Posts: 464 Group: Members Member #21 Joined: October 29, 2006	Paul May 4 2007, 01:11 AM If I was you I'd phone... He's obviously 'forgotten'.... But then again air-con is such a big thing over here I doubt much you'll be having a problem finding work. Since you plan taking on Cath as your apprentice I guess you've already got life pretty much mapped out. :lol: Paul. PS Does she have a say in this? PPS Best not use "Cath & Dave" as part of the business name i.e. "Cath & Dave - Fastest Frosty Freezers on the Coast". Too close to "Chas & Dave" if you ask me and you don't want to be mistaken for performing live every Friday night behind a piano. Or growing a beard and wearing a flat cap. PPPS Can we please get this thread back on its rightful and proper course! Hmm it has gone off topic a little - just to let you know Paul, that Daves mrs is also called Kath. haha. It is the $7k you get dave.
	LATE JUNE 2007, IS THE START OF <span style='font-family:Arial'>A NEW LIFE DOWN UNDER</span>


Paul	May 4 2007, 08:43 AM Post #12
Croc Posts: 270 Group: Members Member #110 Joined: March 27, 2007	Cath So to wrap things up, within the scope of being a migrant you'll get the $7000 grant if: You're an Australian resident; The grant applied for is for a house purchase or build, not for land purchase; It is your intended residential address i.e. not an investment property; It is your first ever house purchase or build in Australia; You apply within a 12 month period AFTER the completion of the contract - purchase or build. I don't see it as a problem for anyone. Why wouldn't you want to get your hands on the money at the earliest opportunity? It's good to raise points like this. But I would say that if you didn't already know you soon would when you spoke to your builder or mortgage advisor; they would fill you in on all the details immediately to help soften the financial aspect. We didn't know until we spoke to our prefered builder. But, and this is important, everyone should be aware that legal costs can be quite a lot and they do vary considerably from city to city and state to state. A lot of this extra cost is due to the searches that have to be undertaken. City searches are considerably more expensive as a rule of thumb over country searches and city lawyers follow suit. I remember a competition that was held to win one of two show homes. One was in the heart of Sydney and the other in the heart of the Sunny Coast. It quite clearly stated that the legal cost of purchase of both properties would be included in the prize. It also highlighted the cost of legals - the Sydney property, despite being half the size attracted legal bills four to five times that of the other property, amounting to something like $20,000. Paul.



airconkid	May 12 2007, 10:21 AM Post #13
MODERATOR- Great White Posts: 639 Group: Members Member #25 Joined: November 14, 2006	Dont you also need to be a PR visa holder for the grant?
	Grab the cane toad by the legs and go for it, life is too short to wander "What if...." or "If only...." Now LOVING *"A New Life Down Under"*


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