What is the First home buyers grant?
There was already a first home owners grant (FHOG) in place which is a $7,000.00 grant for eligable first home buyers.
What is the First home owners boost?
- an extra $7 000 to first home buyers who purchase an established home; and
- an extra $14 000 to first home buyers who build a new home or purchase a newly constructed home.
First home buyers will be eligible for the Boost on contracts entered into between 14 October 2008 to 30 June 2009 (inclusive).
This means the FHOG is now $14,000.00 and but if you purchase a newly constructed home you will get $21,000.00.
Should first home buyers buy a house now or wait for the budget?
I was watching Sunrise with Mel & Koshie this morning and they were interviewing Kevin Rudd’s federal leader of government business Anthony Albanese. The government will not confirm if the first home buyers grant is going to be continuing or not. At the moment the first home owners grant is available Until June 30. This raises the question: Should first home buyers rush out and buy a house now or wait for the budget and risk missing out altogether?
Buying your first home is no doubt a hard decision to make, with new uncertainties arising every day. Considering that it has been confirmed by a number of souces that Australia is facing a recession, how could they put this kind of pressure on the first home buyers. Its like saying “buy now or miss out!”.
Watch the full interview http://cosmos.bcst.yahoo.com/up/player/popup/?rn=1341467&cl=13132107&src=y7lifestyle&ch=