First Home Owner Grant (Fhog) Increased For Newly Constructed Victorian Homes
It’s good news for first home buyers in the market for a newly constructed home with the Victorian Government announcing plans to increase the First Home Owner Grant (FHOG) from $7,000 to $10,000.
Taking effect from July 1, 2013 the increase to the FHOG will see eligible first home buyers purchasing a newly constructed home receive $10,000, along with a 40 per cent stamp duty cut. The combination of the $10,000 First Home Owner Grant and stamp-duty cut means up to $16,500 worth of savings on a new property valued at $400,000.
The FHOG however, will be abolished for those looking to purchase an established home from July 1. Victorian Treasurer Michael O'Brien said ending the FHOG for established houses brought Victoria into line with the other states.
Henley has many ways of helping you get into your first home including affordable house and land packages in some of Melbourne’s most popular estates!
Our team of experts from our Waterstone Finance division are also there to guide you through the first home buying process. We can assist you with determining how much you can borrow and complete home loan pre-approval for you. We can compare the products and interest rates of all the major banks and lenders and explain in detail the costs you need to account for when buying your first home.
And as an added bonus when you build with Henley and finance with Waterstone, we will take $1,000 off your home building contract price, giving you even more of a helping hand towards achieving the dream of owning your own home!
Speak to one of our friendly Henley Sales Consultants today.