There’s never been a better time to invest in the regional Victorian property market – and the federal and state governments want to help make that decision even easier for you.
The housing construction sector is a critical component of the national economy, and both federal and state governments are offering significant incentives to encourage more people to support the sector, particularly in regional Victoria.
Whether you’re a first home buyer or existing owner-occupier, you could be eligible for a range of grants that will save you money on your dream new home. This article provides an overview of available government packages in regional Victoria, and how to determine if you’re eligible.
There are a number of available packages, each with different requirements depending on on whether you’re a first home buyer or an existing owner/occupier, and whether you’re buying metro Melbourne or regional Victoria. Be sure to speak to an expert to ensure you get all the support you are entitled to receive.
As well as a number of available packages, there are different rules depending on whether you’re a first home buyer or existing owner-occupier, and for buying in regional Victoria vs metro Melbourne. Be sure to speak to an expert to ensure you get all the support you are entitled to receive.
Regional First Home Owner Grant
If you are buying or building a new home in regional Victoria valued up to $750,000, you may be eligible for the Regional First Home Owner Grant (RFHOG) of $20,000. The home must be less than five years old to be eligible for the FHOG which means more reason to create your brand-new dream home with Fairhaven!
What is considered ‘regional Victoria’?
If applying for the Regional First Home Owner Grant, you need to purchase within a designated regional council or alpine resort as detailed on the State Revenue Office website.
In June 2020, as part of its economic response to coronavirus, the Australian Government announced its HomeBuilder program. This program provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. And it’s not just money off your build,, that 25k goes directly into your nominated bank account after government approval.
The Fairhaven Homes Hi-Lo sale
On top of these fantastic government incentives, everyone can experience an incredible deal with our Hi-Lo sale!
Enjoy our lowest base prices on the beautiful Bridgewater range, with single storey homes from as LO as $149,920 and double storey homes from $227,329. (The HI value and quality that we’re known for comes as standard.)
To learn more about your eligibility to save thousands off the cost of a new home:
FOOTER: IMPORTANT INFORMATION
The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Fairhaven Homes recommends that you consider whether it is appropriate for your circumstances and that you seek independent legal, financial, and taxation advice before acting on any information in this article.