The Great Start Grant is a fantastic Government initiative aimed at assisting first home buyers to purchase their first home. This generous grant offers $15,000 to first home buyers who are buying or building a new home, townhouse, duplex, granny flat or unit. This grant is helping stimulate the building industry and adding a massive incentive to Australians to purchase a new home.
There are a few conditions you will need to meet to get the Grate Start Grant. Firstly, the residence you buy must be new or substantially renovated. It has to be valued at under $750,000 and it needs to be your first home. The grant is not available for a relocated home, which is an older home that has been moved. Owners must move into their new home within a year of purchase and must live in it for at least six months continuously. You need to be over 18 years of age and an Australian citizen or permanent resident. These conditions are not hard to meet and the advantages are obvious.
Applying for the Great Start Grant is a relatively easy process and your application won’t get caught up in Government red tape. Processing time is around just 10 days, although this may vary if you are applying through your bank or a lending institution. Once eligibility is proven, that is that you are a first homebuyer and the property you wish to purchase is new, it is all systems go.
Here are 3 reasons why you should get started on a Great Start Grant application today.
It Will Get You Started
Breaking into the property market can be difficult. You need to save for a deposit; you need an established history of saving; a good credit report, as well as a reliable and preferably long-term employment background. For many first home buyers, it all just seems too hard. The Great Start Grant represents a really substantial incentive towards buying your first home. The sum of $15,000 can offer a valuable contribution towards your deposit and may be just the hand-up you need to buy your first home.
The Great Start Grant may also help you to buy better, allowing you to buy a home that would have been out of your budget without it. Check out plans and prices at sites like http://www.coralhomes.com.au/ to get a good sense of what you can afford. You will be amazed at the extras you can buy with an additional $15,000 in your wallet.
The property market is on the way up, so the sooner you buy the better deal you will get. The Great Start Grant will help you get into the market more quickly, giving you a $15,000 head start on your deposit savings.
There really is no good reason for not applying for a Great Start Grant if you want to buy your first home. Get your application in today and you could be on your way to realizing the great Aussie dream of owning your very own home.