Hi everyone,
Me and fiancee have just bought a block of land under her name because she still qualifies for FHOG. We're now not sure whether we should build the house before end of year (so that she qualifies her $14K grant) or shall we wait till next year?
We're aware that FHOG causes builders to increase their prices and when FHOG is finished, I think a lot of builders will start decreasing their price because less people will want to build a house hence less demand. I mean, she still qualifies for $7K anyway next year although having extra $7K this year is nice, too (it takes months to save $7K, isn't it?
). However, what if builder price falls by more than $7K?Shall we build this year or next year?
What's your opinion?
Cheers,
TommyTommy
Hate to say from what i read she will not qualify for the FHOG and if you claim it run the risk of being audited simply because you refered to her as your fiance and this in its own right disqualifies her.
Richard Taylor | Australia's leading private lender
Richard,
I understand that but we're not de facto or anything like that. I've consulted with my broker and settlement agent even with banks themselves, I'm still regarded as outsider and not relatives at all.
In our culture (Asian) the word "fiancee" doesn't refer to living together or anything like that. The loans, etc will all be under her name.
Cheers,
Tommyyes, from what i understand a fiance cannot claim the FHOG if the other person already has
you might have to do some research and if thats the case, id wait until next year
Joshua,
Yes I understand that. That's if I've declared marriage or de-facto though. At this stage (as my previous post) I'm still regarded as an outsider.
Cheers,
TommyTommy without being funny i would only talk to the OSR and get it from the horses mouth as your Bank and Broker arent the ones who will incur the fine and have to pay the FHOG back if the OSR disagree with your interpretation.
Richard Taylor | Australia's leading private lender
Richard,
Thanks for the input.
At this stage what I want to know is, assuming that she can claim FHOG, is it better to buy now or next year?
Thanks,
TommyIf we build this year builder price may be quiet high due to grant but if we build next year, we'll lose $7K but builder price may be cheaper.
Any recommendations?
). However, what if builder price falls by more than $7K?
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