First Home Owners Grant SA

The property market in Australia is competitive, and entering it can be challenging as a first time buyer. Fortunately, there is assistance available from the state government in the form of the First Home Owners Grant SA. This government program offers eligible first home buyers in South Australia a one-off payment to assist with the purchase of a home. If you’d like to take advantage, then it’s important to know about the eligibility criteria and cutoffs.

How much is the First Home Owners Grant SA?

The First Home Owners Grant SA is worth $15,000, but it’s only available when you buy or build a brand-new home , be it a house, apartment or townhouse, to be your primary pace of residence.

• As of June 15 2023, the house must be valued at $650,000 or less.
• Prior to June 14 2023, the maximum value of the house was $575,000 or less.

First Home Owners Grant SA eligibility

The First Home Buyers Grant SA doesn’t just set limits on how much you pay for your first home or how much it’s worth. Eligibility also requires meeting several other conditions. For example, to be eligible for the grant, you (and your spouse or partner if they’re applying with you):

• must be at least 18 years old, and
• at least one of you must be a permanent resident, Australian citizen or New Zealand citizen with a Special Category Visa, and
• must not have owned a residential property in Australia prior to 1 July 2000, and
• must not have lived for more than six months in a residential property you owned after 1 July 2000.

This suggests you could still be eligible for the First Home Owners Grant in SA if you have owned an investment property after mid-2000 that you never lived in yourself.

Once you have purchased your first home, you’ll need to live there for at least six months within a year of settlement date or completion of a new build.

How to apply for the First Home Owners Grant in SA

You can apply for the First Home Owners Grant in South Australia by lodging your application through your lender or mortgage broker. RevenueSA, which handles the First Home Owners Grant SA, says this is a quicker option than applying directly to the RevenueSA website and that you must lodge via a lender or broker if you want to receive the grant in time for settlement.

No matter which option you choose, you need to apply for the Grant within 12 months of completing the purchase of your first home.

Are first home buyers in SA exempt from stamp duty?

Unfortunately, there are no stamp duty concessions available for first home buyers in SA. This makes it important to budget for this upfront cost when you buy a first home.