First Home Owner Grant changes for regional Victoria

There has never been a better time for first home buyers to sign up with Geelong Homes. From 1 July 2017 to 30 June 2020 the FHOG is increasing from $10,000 to $20,000 for new homes built in regional Victoria (see below) and valued up to $750,000 PLUS stamp duty exemption for land values under $600,000.

See below for all the info you need on the FHOG. With a catalog of home designs to suit the first home buyer and affordable price tags to match, now is the time to make the move and invest for the future.

2017 FHOG for regional Victoria FAQs

Here are the answers to some frequently asked questions about the First Home Owner Grant (FHOG)  and Stamp Duty Exemptions/concessions for regional Victoria.

  1. What is the new $20,000 FHOG?
  2. What is a new home?
  3. What is regional Victoria?
  4. What are the key dates you need to know?
  5. What types of home/construction qualify?
  6. Who will qualify?

1. What is the new $20,000 FHOG?

The current First Home Owner Grant (FHOG) is a payment of $10,000 available to eligible first-home buyers who buy or build their new home valued up to $750,000.

The new, increased FHOG payment of $20,000 is for first-home buyers who buy or build their new home valued up to $750,000 in regional Victoria.

2. What is a new home?

A new home includes:

  1. A newly built home,
  2. An existing property which is being sold for the first time as a new residential premises,
  3. A land and building package, or
  4. Vacant land on which you will build a new home

Eligible first-home buyers in metropolitan Melbourne will continue to receive the $10,000 FHOG and other applicable assistance.

All first-home buyers in metropolitan Melbourne and regional Victoria must still meet the other FHOG eligibility criteria.

3. What is regional Victoria?

This change affects first-home buyers who buy or build a new home on land in the following municipal councils:

Municipal councils A-GMunicipal councils G-MMunicipal councils M-Y
Alpine Shire CouncilGreater Geelong City CouncilMurrindindi Shire Council
Ararat Rural City CouncilGreater Shepparton City CouncilNorthern Grampians Shire Council
Ballarat City CouncilHepburn Shire CouncilPyrenees Shire Council
Bass Coast Shire CouncilHindmarsh Shire CouncilBorough of Queenscliffe
Baw Baw Shire CouncilHorsham Rural City CouncilSouth Gippsland Shire Council
Benalla Rural City CouncilIndigo Shire CouncilSouthern Grampians Shire Council
Buloke Shire CouncilLatrobe City CouncilStrathbogie Shire Council
Campaspe Shire CouncilLoddon Shire CouncilSurf Coast Shire Council
Central Goldfields Shire CouncilMacedon Ranges Shire CouncilSwan Hill Rural City Council
Colac Otway Shire CouncilMansfield Shire CouncilTowong Shire Council
Corangamite Shire CouncilMildura Rural City CouncilWangaratta Rural City Council
East Gippsland Shire CouncilMitchell Shire CouncilWarrnambool City Council
Gannawarra Shire CouncilMoira Shire CouncilWellington Shire Council
Glenelg Shire CouncilMoorabool Shire CouncilWest Wimmera Shire Council
Golden Plains Shire CouncilMount Alexander Shire CouncilWodonga City Council
Greater Bendigo City CouncilMoyne Shire CouncilYarriambiack Shire Council

4. What are the key dates you need to know?

The date you sign your contract to buy or build your new home is the key date. Settlement date is irrelevant.

The $20,000 FHOG will be applicable to:

  1. Contracts entered into from 1 July 2017 to 30 June 2020 for the purchase of a new home in a regional area,
  2. Comprehensive home building contracts entered into from 1 July 2017 to 30 June 2020 by the owner of land wholly in regional Victoria, or a person who on completion of the contract will be the owner of land wholly in regional Victoria, to have a home built on the land, and
  3. The building of a home wholly in regional Victoria if the building work commences between 1 July 2017 and 30 June 2020 inclusive

If you are entitled to the FHOG but sign a contract for a first home in regional Victoria before 1 July 2017, you will not be eligible for the $20,000 payment. This is even if you settle on or after 1 July 2017. However, you will still be eligible for the $10,000 FHOG.

5. What types of home/construction qualify?

The eligible transaction can be a contract for:

  • The purchase of a new residential premises (which can be a newly built home or premises that are being sold as a new residential premises for the first time),
  • A comprehensive home building contract, or
  • The construction of a home by an owner builder

6. Who will qualify?

You will qualify if:

  • You purchase or build a new home wholly in regional Victoria,
  • Your contract is signed on or after 1 July 2017 and no later than 30 June 2020, and
  • You meet all the other FHOG eligibility criteria

Owner builders who begin building their home wholly in regional Victoria within this 1 July 2017 to 30 June 2020 period and meet all the other FHOG eligibility criteria also qualify.

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