Take Advantage Of The First Home Buyers Grant

Buying a property for the first time is an exhilarating experience and it can be made easier with the help of the first-home buyers grant.

As a first-time buyer there are a few incentives available to help make the transition to owning a property and it is worth doing a bit of research into which ones you may be eligible for.

The first home buyer grant aims to help more Australians own homes sooner and is part of the Federal government initiative to assist residents in buying or building their first home.

One of the specifications for the grant states that to be eligible you need to occupy the home - whether you are building or buying it - within 12 months of the settlement date.

Providing that you are eligible, you may receive $7000 tax free and you may be able to use some or all of the money towards your house deposit - although this may be reliant on individual lending criteria.

It is also a good idea for you to find out if there are any other concessions available to you as a first-home buyer as these may vary across the different states in Australia.

To get more detailed information about your situation, talk to a Loan Market mortgage broker today.