Tasmanian’s First Home Builders Boost grant to continue

FHOB grant will continue, but at a reduced rate. . .

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Tasmanian’s First Home Builders Boost grant to continue

The Tasmanian government have announced it will continue the First Home Builders Boost grant, but at a reduced rate.

Treasurer Peter Gutwein announced yesterday that when the $30,000 first home builder boost expires at the end of this year, it will continue at $20,000 until July 1 next year, then be cut to $10,000.

Mr Gutwein said the Government wanted to continue the scheme following positive signs in the building sector.

The announcement follows the latest report card into the state’s housing sector that shows new building starts were forecast to rise by 2.7 per cent this year, before an even stronger rise of 12.6 per cent next year.

Who is eligible?

Buyers of newly constructed homes and builders of new homes (either as an owner-builder or through a registered builder).  Applicants buying an existing home (that’s is, a home previously used as a place of residence) are not eligible for the FHBB>

What is the time frame?

  1. Commit to build – If you contract to build, you need to enter into a building contract between the 7th of November 2013 and 31 of December 2014 (inclusive) for the $30 000 payment.
  2. Commence building – laying of foundations need to be complete within 26 weeks of the date of the building contract.
  3. Complete building – An occupancy certificate needs to be issued from your local council within 24 months of completion of laying the foundations.

When will the payment be made?

Following completion of the laying of foundations or on completion of a home that is not financed.

For any further questions on how to apply for the FHBB, you can click on the following link -http://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/8D67B514FA1A41E0CA257AD00009BB85/$file/FHBB_001.pdf 

 

 

 

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