All Topics / Help Needed! / Victorian State Governemnt FHOG

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  • Profile photo of Vaslav

    Hi, i read in the paper that the new Vic budget allows 5000 Grant to FHOG so long as their property isn’t worth more than 500,000

    Now, is this on top of the 7000 Fed Govt Grant?

    Also, does anyone knows how this applies to purchasing land and then building? does the 500,000 then covers the cost of the house alone or both land and house?

    Thanks,

    Kev

    Profile photo of mcwongmcwong
    Member
    @mcwong
    Join Date: 2003
    Post Count: 7

    Yes, the $5K is on top of the fed. govt. first
    home owner grant $7k. Though, the Vic FHOB(onus)
    lasts for I think 14 months only, and it’s in the
    form of $$ for FHO to spend in any way one may
    like, even to buy something other than property!

    Profile photo of Vaslav

    mcwong,

    do you mean even on renovation and home improvement you could claim that 5K govt grant? that’s great isn’t it ? well sorta ( until the time limit’s up )

    There’s no Such thing as No Can’t Do!!!!!

    Profile photo of gatsbygatsby
    Member
    @gatsby
    Join Date: 2003
    Post Count: 708

    It’s interesting. I’m curious to see if this grant, which is supposedly aimed at helping first home buyers enter the market, have the desired effect. It’s a bit like ‘an economy’ in any era. Some say tinker with it while others say let it sort itself out (supply/demand). I hope it doesn’t (and I feel it may) just push prices up accordingly like Howard’s FHOG initiative did.
    Cheers,
    Gatsby.

    Profile photo of Vaslav

    hmm is the election near ? if they really want to help FHO, try reducing stamp duty.. lol

    Anyway, we’ll see what happens,

    There’s no Such thing as No Can’t Do!!!!!

Viewing 5 posts - 1 through 5 (of 5 total)

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