First Home Buyer Grant in South Australia – 2024 Detailed Guide

Are you considering buying your first home in South Australia? We have excellent news for you!  Buying a new residential property no longer puts a financial burden on first-time homebuyers. Numerous programs and benefits make property acquisition more effortless for first-time buyers. And there’s one program you must explore: the South Australian first home buyer grant!  Do you want to learn more about the benefits and incentives? If so, stay tuned to this blog: 

What is the First Home Buyer Grant? 

South Australia’s first home buyer grant is an initiative to make your first home acquisition accessible. This program, funded by the SA State Government, offers financial aid of up to $15,000.  The first homeowners grant in SA is available for people buying new or building residential properties in South Australia. The amount can be used to cover costs (for either purchasing or building) that arise during property purchase, or it can even be used as part of your deposit. It is important to note that eligibility for this program is independent of income.  The financial relief can be used to buy the following: 

• New homes
• Off-the-plan apartments
• House and land packages
• Vacant land to build a dwelling of your choice

The Eligibility Criteria for the SA FHOG

In this section, let us learn about the eligibility criteria for the first home owners grant in SA.

• You are eligible for this financial aid if you buy a newly constructed property. The homes or residential units should not have been sold previously, and nobody should have lived in them. 

[Substantially Renovated buildings are also eligible if they fall under the same criteria.] Note: Previously occupied, minorly renovated, or investment properties are not eligible for this program. 

• Companies and trusts are not eligible for the first home buyers grant in South Australia.
• At least one family member must be an Australian citizen or permanent resident. 

If you are a New Zealand citizen residing in SA, you can apply for the first homeowner’s grant in Adelaide, SA, with Special Category Visas.

• No restrictions on the property value
• Individuals aged 18 or above can only apply for the first home buyers grant in SA. 
• You (and your spouse) must not have owned a home before 1 July 2000. In addition, you (and your spouse) must not have lived in a residential building you own on or after 1 July 2000 for six months or longer. 
• The first homeowner’s grant in Adelaide, SA, is a one-time financial aid. You are not eligible if you or your spouse have already received the benefits in an Australian state or territory. 

Note: You can benefit if you received a grant previously but it was paid back. 

• The applicants must reside in the purchased property for at least six months within the first year or after the construction is completed. 

Check eligibility for the first home buyers grant in SA with the experts from FHBA today!

When To Apply

For property purchases, you must apply for the first home buyers grant in SA within 12 months of buying your first home. For builder projects, you must apply for the program within one year of the home’s completion. You must provide proof of identity to apply for this government initiative. Additional documents may be required under certain circumstances.  Before you apply for the first home buyers grant in South Australia, read the detailed lodgement guide! Click here.

How To Apply

There are two ways to apply for : 

1. You can directly apply for the first homeowner’s grant in SA through the RevenueSA website portal. 
Follow the link below to do so.  https://www.firsthome.gov.au/apply/sa/
2. The application process is slower if you do it independently. You can do it through the lender you get your first home loan with. At FHBA, our mortgage experts will do this for you (at no cost to you)

Contact our advisors for a smooth application process to attain the benefits of the first home buyers grant in South Australia! 

When Is The Grant Paid? 

Usually, it takes 5 days to receive the financial aid after approval of your application. 

• You will receive your funds for purchasing a new home on the settlement date. The relevant documents needed are: 
• Proof of lodgement of registration with the Lands Titles Office
• Confirmation of Settlement and Lodgement for Registration form 

Download the form here!

• For builder contracts, the first home buyers grant in SA will be paid by the approved agent on the date of the first progress payment. The document needed is: 
• A copy of the first progress payment invoice
• Owner-builders receive the funds once the application is approved. The mandatory documentation for such projects includes:
• Statutory Declaration
• The necessary supporting evidence

Take a Step Toward Owning Your Dream Home in SA

South Australia’s first home buyer grant provides invaluable support to those purchasing their first home in Adelaide and regional areas. This grant makes homeownership more attainable by offering financial assistance of up to $15,000 for new residential properties.  Remember, there are numerous ways to make property buying more accessible. For instance, first-home buyer loans can provide financial help! For more guidance in finance management for property purchases, read the latest updates from FHBA’s website!