NORTHERN TERRITORY: GUIDE TO FIRST HOME OWNER ASSISTANCE

LEARN ABOUT THE ASSISTANCE

The Northern Territory First Home Owner Grant (NT FHOG) is a NT State Government initiative to help first home owners to get their ‘new’ first home sooner. It is an amount of money paid by the NT Government to eligible first home owners.

Learn more about the NT FHOG as well as other Northern Territory Government assistance for first home buyers below.

Currently, the NT FHOG Scheme provides a Grant of $26,000 to eligible first home buyers. This grant is only available to first home buyers who enter into a contract to construct or purchase a new home.

Important Tip: Grants and Concessions tend to change at short notice, therefore please double check with your State government what is available in your area before buying your first home!

First home buyers are generally eligible for the NT FHOG if they meet the following eligibility criteria:

  • All applicants must be natural persons (that is, not a company or a person acting as a trustee)
  • The transaction must be the purchase or construction of a new home
  • At least one applicant needs to be at least 18 years of age
  • At least one applicant must be an Australian citizen or permanent resident of Australia
  • All applicants have never held a relevant interest in a residential property, either jointly, separately or with some other person, before 1 July 2000 in any State or Territory of Australia
  • All applicants have not occupied a residential property in Australia that was owned by one of the applicants on or after 1 July 2010
  • All applicants must not have previously received the First Home Owner Grant in any state or territory of Australia
  • At least one applicant has to occupy the home as their principal place of residence for a continuous period of at least six months within 12 months of the completion date of the eligible transaction
  • At least one applicant will move into the home within one year of purchase or, if constructing a new home, within one year of completing construction
  • The consideration for or the value of the home must be under the transaction eligibility threshold (no threshold currently exists for FHOG eligibility in NT)

Some limited exemptions to this criteria exist. See the NT Department of Treasury & Finance website for details or ask your Mortgage Broker.

According the to NT FHOG application form, the home must never have been previously lived in or sold as a place of residence to satisfy being ‘new’.

If you are claiming the NT FHOG on the purchase of a ‘new’ home, your application must be accompanied by a completed Vendor declaration.

A substantially renovated home may be considered a ‘new’ home. For more on the substantially renovated definition visit the NT Department of Treasury & Finance website.

Generally when you buy a property you are required to pay a State tax called stamp duty. However, for eligible first home buyers, there are circumstances where they may receive a discounted (concessional) stamp duty tax (instead of paying the full rate):

  • First Home Owner Discount (FHOD): This discount was introduced on 24 May 2016 to assist first home buyers in the purchase of an ‘established’ home in the NT. The FHOD provides eligible first home buyers who purchase an ‘established’ home between 24 May 2016 and 30 June 2017 with a reduction of 50% of the stamp duty otherwise payable, up to a maximum discount of $10,000. For the full FHOD eligibility criteria please click here.
  • Principal Place of Residence Rebate (PPRR): A stamp duty discount by the NT Government to persons purchasing a ‘new’ home or land on which to build a home (as well as those considered substantially renovated). The PPRR is an amount up to $7,000 off the total stamp duty payable. To confirm your eligibility for the PRRR, please click here

To calculate your potential stamp duty concessions try our calculator by clicking here.

You can find a FHOG eligible home at FHBA New Homes. Did you know that FHBA New Homes gives you access to the most FHOG eligible homes under one roof?

FHBA New Homes works a bit like a Mortgage Broker (but rather then help you find a home loan, our New Home Experts help you find a ‘new’ home). Your New Homes Expert can explore different homes from different developers to help you find a suitable home for your Great Australian Dream.

Like our Mortgage Broking service, FHBA New Homes is a free of charge service, as we are paid a referral fee from the property developer you choose to proceed with (if you do decide to proceed). This means we won’t be paid until you have decided on a home you like.

If you haven’t been introduced to FHBA New Homes Expert yet send us an email (enquiries@fhba.com.au) or complete the enquiry form and we will be sure to have your local New Homes Expert call you ASAP.

You can find a FHOG eligible home at FHBA New Homes. Did you know that FHBA New Homes gives you access to the most FHOG eligible properties under one roof?

FHBA New Homes works a bit like a Mortgage Broker (but rather then help you find a home loan, our New Home experts help you find a ‘new’ home). Your New Homes Expert can explore different homes from different developers to help you find a suitable property for your Great Australian Dream.

Like our Mortgage Broking service, FHBA New Homes is a free of charge service, as we are paid a referral fee from the property developer you choose to proceed with (if you do decide to proceed). This means we won’t be paid until you have decided on a home you like.

If you haven’t been introduced to FHBA New Homes Expert yet send us an email (enquiries@fhba.com.au) or complete the enquiry form and we will be sure to have your local New Homes Expert call you ASAP.

If you are thinking of purchasing an established (existing) home then:

  • Unfortunately you will not be eligible for the NT FHOG, as one of the requirements is that it must be a ‘new‘ home
  • However, you may still be eligible for a stamp duty concession. See ‘are there any other entitlements I might be eligible for’ above.

If you would like assistance with purchasing an established home we recommend you book in a free consultation with an FHBA Service Community Buyers Agent.

CHECK ELIGIBILITY FOR GOVERNMENT INCENTIVES

FHBA’s new & innovative Eligibly Estimator allows you to self-estimate how your savings are tracking and whether you have enough saved to qualify for a home loan. Upon completion, we will instantly send you a complimentary Australian Property Monitors Postcode Report (Valued at $39.95)

Check how your tracking in 60 seconds!

Disclaimer: The FHBA Eligibility Estimator is intended as an approximate guide only. It uses a mixture of the data you input, median property prices from APM PriceFinder and estimated purchasing costs. You should not rely on the results of the Eligibility Estimator. Please contact an FHBA Coach who can arrange a more comprehensive estimate and advice based on your personal circumstances from a licensed professional.

We Need A Few Of Your Details

To see if your current savings are enough to buy in your selected suburb and to send you a complimentary FHBA Australian Property Monitors (APM) comprehensive postcode report for your selected suburb

Deposit Guide

  • 5%

    Deposit Amount:

    Lenders Mortgage Insurance:
    (Indicative Only)

    Stamp Duty:
    (Indicative Only)

    Mortgage Reg. Fee:

    Transfer Fee:

    Other Costs: $ 3,000

    Total Deposit + Costs Required:

    Surplus / (Deficit):

    Your Current Savings:

    First Home Owner Grant:

  • 10%

    Deposit Amount:

    Lenders Mortgage Insurance:
    (Indicative Only)

    Stamp Duty:
    (Indicative Only)

    Mortgage Reg. Fee:

    Transfer Fee:

    Other Costs: $ 3,000

    Total Deposit + Costs Required:

    Surplus / (Deficit):

    Your Current Savings:

    First Home Owner Grant:

  • 20%

    Deposit Amount:

    Lenders Mortgage Insurance:
    (Indicative Only)
    Nil

    Stamp Duty:
    (Indicative Only)

    Mortgage Reg. Fee:

    Transfer Fee:

    Other Costs: $ 3,000

    Total Deposit + Costs Required:

    Surplus / (Deficit):

    Your Current Savings:

    First Home Owner Grant:

5%

10%

20%

Deposit Amount

Lenders Mortgage Insurance
(Indicative Only)

NIL

Stamp Duty
(Indicative Only)

Mortgage Reg. Fee

Transfer Fee

Other Costs

$ 3,000

$ 3,000

$ 3,000

Total Deposit + Costs Required

Surplus / (Deficit)

Your Current Savings

First Home Owner Grant

Fill in the form below to get your complimentary personalised deposit guide & your Suburb's Data report emailed to you within 48 hours!

TALK TO AN EXPERT

At FHBA we are passionate about helping aspiring first home buyers purchasing their first home.

Complete the form below for an obligation free call back from one of our experts.

We can help you with your first home search, home loan needs, Grant applications and/or any questions you may have.

Disclaimer: The information above is general in nature and should not be solely relied on. The source of this information was the NT TRO website. This factual information was true at the time of writing (18 July 2016). FHBA recommends you speak with a licensed professional about your circumstances so you can find out if you are eligible for any Government assistance. FHBA does not recommend that you buy a new property simply so you can receive Government assistance. For more information on using our website please read our full Terms & Conditions policy.