Let’s admit it, trawling the net and newspapers every week for inspection times, driving around the city on a busy weekend morning, finding parking, walking through dozens of properties, auctions that start above your reserve… this is hard work! If it’s your first time this is a very exciting time of life. That is, until it comes time for details. Contracts, solicitors, conveyancers, banks, interest rates, mortgage brokers, stamp duty, loan calculators and the list goes.
Here to help and make life a little easier is the State Revenue Office of Victoria (SRO) and their new iPhone application. This is the first of its kind and allows Victorians to see how much they are eligible to claim in first homebuyer benefits. The SRO Mobile application – designed by the SRO’s IT specialists – allows first home buyers to access important information while house-hunting.
By downloading the free ‘SRO Mobile’ application from the Apple App Store, you can quickly see if you are eligible to receive the First Home Owner Grant (FHOG), the Victorian Government’s First Home Bonus and the Regional Bonus. The application will also automatically calculate how much you may be eligible to receive from the government.
Here’s a quick reference at the current awards. The tables below set out the different amounts that first home buyers in Victoria may be eligible for. The information in these tables is to be used as a guide only.
Contract Date (1 July 2010 – 30 June 2012)
|Conditions||First Home Owner Grant (FHOG)||First Home Bonus||First Home Owner Regional Bonus||Total|
|Established homes only||$7,000#||$0.00||$0.00||$7,000|
|Newly constructed homes in Metropolitan Victoria only||$7,000#||$13,000*||$0.00||$20,000|
|Newly constructed homes in Regional Victoria only||$7,000#||$13,000*||$6,500*||$26,500|
|#For contracts entered into after 1 January 2010, to qualify for the Grant, the price of the property or construction of the home must not exceed $750,000.
*For contracts entered into between 1 July 2009 to 30 June 2012, to qualify for the Bonus, the value of the property must not exceed $600,000.
For inspection times please visit our website www.dinglepartners.com.au and for further information regarding the First Home Owners Grant please give the office a call to speak with one of our experienced Estate Agents.
The Dingle Partners Team