SOUTH AUSTRALIA: GUIDE TO FIRST HOME OWNER ASSISTANCE

LEARN ABOUT THE ASSISTANCE

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

Learn more about the SA FHOG as well as other South Australian Government assistance for first home buyers below.

The SA FHOG is $15,000. It applies to the purchase or construction of a new residential property, including a house, flat, unit, townhouse or apartment that meets local planning standards anywhere in South Australia.

In Treasurer Tom Koutsantonis’ budget speech on 22 June 2017, he confirmed that a number of property developments had not sold enough apartments off the plan to start construction. But now any buyer of an off-the-plan apartment contract who signs before September 30 will be eligible for a $10,000 pre-construction grant.

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 if:

  • At least one of the applicants must be an Australian citizen or have permanent residency in Australia. Some NZ Visa holders may also be eligible.
  • All applicants must not have previously owned a residential property anywhere in Australia prior to 1 July 2000.
  • All applicants must not have owned a residential property anywhere in Australia on or after 1 July 2000 and occupied that property continuously for six months or more.
  • All applicants must occupy the home purchased or built as their principal place of residence for a continuous period of at least six months commencing within 12 months after completion of the eligible transaction.
  • Each applicant must be a natural persons (i.e. not a trustee or company).
  • Each applicant must be at least 18 years of age at the time of making application for the FHOG.
  • The market value of the home must be $575,000 or less
  • If you’re building your first home, the sum of the building contract and the land value is taken into account.
  • The property must meet the definition of being a ‘new’ home.

Any new fixed dwelling that is suitable as a residence, for example, a single dwelling, duplex, flat or townhouse. FHOG is not available in relation to renovations to an existing building or the purchase of vacant land.
Owner builders can apply for FHOG after the foundations have been laid and must apply within 12 months of the property being ready for occupation. There is no specific timeframe to complete construction of the home.

If you purchase an off-the-plan apartment between 20 June 2016 and 30 June 2017, you may be eligible for a partial stamp duty concession (called the ‘Off-the-Plan Concession’). There are two parts to the calculation of this concession:

  • First Part: Where the value is less then $500,000 the size of the concession is greater then where the value of the home is greater then $500,000.
  • Second Part: The stage of completion of the residential development. There are 6 different stages.

In Treasurer Tom Koutsantonis’ budget speech on 22 June 2017, he confirmed any buyer of an off-the-plan apartment contract who signs before September 30 will be eligible for a $10,000 pre-construction grant.

A partial stamp duty concession may also be available for off-the-plan apartments with contract dates that are prior 20 June 2016. For more details on the Off-the-Plan Concession please visit Revenue SA.

Applying for the FHOG and / or various duty concessions can be a little tricky. While you can check eligibility and apply online by yourself, we recommend you apply through the assistance of one of our FHBA Mortgage Brokers.

Our FHBA Mortgage Brokers are not only experts at finance matters such as home loans and the FHOG, but they are also experts in helping first home buyers everyday. Our service is free of charge (should you proceed with a home loan option through us). We can check your eligibility, apply on your behalf and be with you every step, providing you with peace of mind that you haven’t missed anything.

  • To learn more about our FHBA Mortgage Broking service and have one of our experts assist you with your application, please visit our FHBA Mortgages home page.
  • To apply online by yourself visit the SA Government website and follow their instructions carefully.

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 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.

If you are thinking of purchasing an existing home then:

  • Unfortunately you will not be eligible for the SA FHOG or transfer duty concessions

If you would like assistance with purchasing an established home we recommend you book in a free consultation with an FHBA Service CommunityBuyers 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 Revenue SA 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.