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21 February 2009

First Home Owner's Grant beyond 30th June 2009

When you're buying your first home, you may be eligible for the First Home Owner's Grant of $7,000. On 14th October 2008, the grant was supplemented by a component called a 'boost' payment. This effectively increased the grant to $14,000 for established homes and $21,000 for new homes.

Unlike the First Home Owner's Grant, the boost component has an expiry of 30th June 2009. There has been much speculation about what the government might do on 1 July 2009.

Today on 4BC, Michael Matusik discussed the impact of the First Home Owner's Grant on the property market. He also shared his prediction of what is likely to happen to the 'boost' component beyond 30 June.

Michael believes we're likely to see the boost continuing beyond 30th June, however, the government may only make it available for people buying new homes.

For those wanting to buy an established home using the First Home Owner's Grant, Morpheus Property urges buyers to beat the 30th June deadline. To check your eligibility, go to the Office of State Revenue website or give your Morpheus Property agent a call on 1300 727 586 to discuss your circumstances.

Yours in property.

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