First home owner
David is a sales representative as well as a semi-professional footballer looking to buy his first home in Mebourne. The key challenges for him, once he had decided on a property and indicative buy price, were to arrange finance including investigating his eligibility with regards to the First Home Buyers’ Grant as per the State Government legislation. In Victoria, the key eligibility requirements for the Grant cover issues such as the buyers…
- Intention to live in the home as theprincipal place of residence (PPR) for at least 12 continuous months, commencing within 12 months of settlement or completion of construction,
- Age (18 or over)
- Be an Australian citizen or permanent resident
Further, we needed to confirm specific issues relating to the property itself such as the purchase price of the property can not exceed the $600,000 cap for eligible transactions which commenced on or after 1 January 2010 .