First Home Buyer Grants South Australia
In a welcomed move the South Australian Government has increased the First Home Owner Grant (FHOG) for new homes from $7000 to $15 000 (ongoing) for contracts entered into on or after 15 October 2012.
In the same move they also reduced the First Home Owners Grant for established homes from $7000 to $5000 for eligible contracts entered into between the date the necessary amending legislation comes into force and 30 June 2014.
Find Out If You Are Eligible Today.
The Government also announced that as of 01 July 2014 they will abolish the First Home Owners Grant for existing properties.
Replacing the $8000 First Home Bonus Grant with a Housing Construction Grant (HCG) of $8500 for all new home construction where contracts are entered into between 15 October 2012 and 30 June 2013 inclusive. The Housing Construction Grant will be available for properties valued up to $400 000, phasing out for properties valued up to $450 000.