How do I know if I am eligible for the first home buyers grant?

Conveyancing is the process of transferring property from one individual or legal person to another. Obviously, this often involved with first home buyers. In every Australian state there is a program of first home buyers purchasing grants. For a short time, there was a commonwealth boost to the first home buyers grant as well, however, this grant was phased out on 1 January 2010. Now there are only the state based first home buyer grant systems in place. New South Wales has the largest program of first home buyer grants in operation. The rules of eligibility are quite simple. You need to be be a house in New South Wales for the first time and you need to be an Australian Citizen or permanent resident. There are special rules involved if you are a member of the Australian Defence Forces. If you are a member of the ADF, you do not need to be resident in the house for 6 months of the first 12 months of ownership if you are serving in the military. However, this is the only exemption from the rule that you need to live in the house for which you claim the grant for 6 of the first 12 months of ownership of the property. This will entitle you to a grant of $7,000.00 as long as you abide by these rules. You also need to obtaining a beneficial ownership share in in the property.

How do I apply for the first home buyer’s grant?

Because there is quite a complicated administrative process involved in the claiming of the grant, many people prefer to delegate the application for the grant to someone who is experienced and professional in the process. This may be the solicitor that is assisting with the conveyancing of the property or in many cases, the bank which is arranging the mortgage for the property is also an approved agent for the application of the first home buyers grant. The bank can often streamline this process for you when you are applying for the loan. In the conveyancing work which we do, we also offer to apply for the first home buyers grant on your behalf for a small additional fee. If you would like extra information about this please do not hesitate to contact us using the contact form to the right.