First Home Owners Boost South Australia
Buying your first home can be expensive. If you are looking to buy your first home then you will usually realise that the loan repayments will take up a lot of your income, however many people will not realise that there are other costs that come with buying a home and many of these costs will have to be paid in full with your own money. If you are buying your first home then you should be sure to use any of the concessions that may be available to you as this will reduce the amount of your own money you will have to spend on the purchase. The first home owners boost is a concession that was available to people in South Australia.
First Home Owners Boost
The first home owners boost is a grant that was available to people who were buying a home in South Australia. The first home owners boost is:
- What is the first home owners boost. The first home owners boost is a grant that you were be able to receive on top of the first home owners grant. The first home owners boost is still available to people who purchased a home before the start of 2010.
- What is the eligibility criteria. To be eligible for the first home owners boost you will have to be over 18 years old and buying a home in South Australia. Furthermore, if you are buying a home the home will not be able to exceed $575,000 and you must be a resident or citizen of Australia.
How much is the first home owners boost.
The amount of money that you would have been able to receive with the boost would have varied depending on what type of home you were buying. The different ways to buy a home are:
- For people buying a home. If you are buying an existing home then you would have been able to receive a $7000 boost if you bought your home between From 14 October 2008 to 30 September 2009. You would have also been able to receive a $3500 boost if you bought your home between From 1 October 2009 to 31 December 2009.
- For people buying a new home. If you are buying a new home then you would have been able to receive a $14,000 boost if you bought your home between From 14 October 2008 to 30 September 2009. You would have also been able to receive a $7000 boost if you bought your home between From 1 October 2009 to 31 December 2009.
- For people building a home. If you are building a new home then you would have been able to receive a $14,000 boost if you built your home between From 14 October 2008 to 30 September 2009. You would have also been able to receive a $7000 boost if you built your home between From 1 October 2009 to 31 December 2009. You will have to commence building within 26 weeks and finished building 18 months of signing the contract.
- For new homes built by owners builders. If you are building a new home as an owner builder then you would have been able to receive a $14,000 boost if you built your home between From 14 October 2008 to 30 September 2009. You would have also been able to receive a $7000 boost if you built your home between From 1 October 2009 to 31 December 2009. You will have to finish building within 18 months of the commencement of building.
- For homes purchased off the plan. If you are buying a new home off the plan then you would have been able to receive a $14,000 boost if you bought your home between From 14 October 2008 to 30 September 2009. You will have to have completed building by the 31st of March to apply for the boost. You would have also been able to receive a $7000 boost if you bought your home between From 1 October 2009 to 31 December 2009. You will have to of completed building by the 30 June to be eligible to apply.
If you bought a house in South Australia last year then you may still be able to get the first home owners boost. The first home owners boost is a grant that you will be able to receive that will help you pay for some of the costs that will arise when you buy a house. The amount of money you will receive will vary depending on what type of home you buy.
Related posts:
- Fact Sheet Changes to FHOB in 2009-10 budget (TAS)
- First Home Owners Boost (WA)
- First Home Owner Boost Information Sheet (NSW)
- First Home Owner Boost Information (ACT)
- Federal Government First Home Owners Grant
- First Home Owner Boost Overview (VIC)
- How to Apply for the First Home Owners Grant in South Australia (SA)
- First Home Owners Bonus FAQ (VIC)
- When Will I Get the First Home Owners Grant?
- Can I Apply for the First Home Owners Grant if I Have Previously Owned a Property Which Was Then Sold?
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