Please note that the HomeBuilder scheme ended on 31 March 2021. Further information can be found on the Australian Government website.
Building your first home is one of life’s most exciting experiences.
To make it quicker and easier to save for your first home, the Australian Government provides a range of support for first home builders and buyers.
In this handy guide, we’ve outlined the various Government schemes and initiatives available, and shown you how you could be on your way to achieving the great ‘Aussie Dream’ with as little as $2K deposit!
The Federal Government’s First Home Loan Deposit Scheme
The First Home Loan Deposit Scheme has been designed to make it quicker, and easier, for first home buyers to enter the property market.
With this scheme, first time buyers can pay a deposit as little as five per cent and avoid paying lenders mortgage insurance – potentially saving you thousands!
Take a look at this tool to find out whether you meet the Scheme’s eligibility criteria.
The Government’s HomeBuilder program provides a one-off grant of $25,000, meaning you can take $25,000 off the price of your new home!
You’ll need to be quick though – HomeBuilder is running for a limited time only, until 31 March 2021. To find out more, including eligibility, read our handy guide.
The First Home Owner Grant
Another fantastic incentive available to first home buyers is the South Australian Government’s First Home Owner Grant.
Through this Grant, first home owners can receive up to $15,000 toward building their new home!
For more information about eligibility, terms and conditions and how to apply, visit the Revenue SA website.
How you can own your own home with as little as $2K deposit
What’s fantastic for first home builders in South Australia right now is the fact that you can combine the $25,000 HomeBuilder grant and $15,000 First Home Owner Grant to save a total of $40,000 when you build at Springwood!
To explain how this works, let’s use Lot 803 in the Parkview Collection – a 3-bed home – as an example.
*Finance is funded through Homestart Finance, Australian credit licence 38846.
With a bit of help, you’ll be surprised at how soon you might be able to build your dream home!
If you’re a first home buyer and would like more information about building your first home or the Government support available, give Sales Manager Nathan Cag a call on 0402 532 693 now.