First Home Buyers Grant

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First Home Buyers Grant

Postby drd on Fri Dec 01, 2006 4:04 pm

Hey guys,

Love the forum and the community here...

I just have one quick question in regards to the First Home Buyers Grant..

My friend and I are looking to go in jointly and purchase our first investment property together.

If we do this...will we still have both our First Home Buyers Grants for when the time comes to purchase our homes to live in.

Or do we lost both our grants due to us purchasing the investment property?

Any help would be greatly appreciated.

Thanks.

Des.
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Postby Pete on Sat Dec 02, 2006 8:24 pm

Hi Des,

There is a site all about the grant and who is eligible.

http://www.firsthome.gov.au

All the best,

Pete
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Postby Sean on Thu Jan 25, 2007 10:19 pm

Hi Des

Buying in joint names will wipe out the opportunity to buy a second home under the first home grant scheme. (This is my recollection from a few years ago when someone else did this)

If you were to buy one house in your name, you'd get the grant. Later, if your friend got the second house, he/she would get the grant.

Imagine if you bought the house as a company (I doubt a company would get the grant). Your friend could buy shares in that company and hence fund 1/2 the house and be 1/2 owner.

Later, his company (another company) could buy a house and you buy shares in that house and be 1/2 owner.

I doubt that it would be approved, however the point I'm making is this:
"Look outside the square. Thinking logic will produce logic"

Good luck Des
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Postby av-enterprise on Mon Feb 05, 2007 7:16 am

I've heard recently that if your first property is an investment property you don't get the first home buyers, however you still entitled to get it later for when you purchase your house of residence. Can anyone confirm this. Thank you

Regards,

Arren
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Postby daniela on Mon Feb 05, 2007 9:25 am

Hi Arren

You will not loose the first home buyers grant. It is your right so far. I dont' know what will happen in a few years, but for now, you are entitled to it.

Search for First Home Buyers Grant thru Google. You will find a more valid information there.

Regards

Daniela
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Postby av-enterprise on Mon Feb 05, 2007 10:17 am

Thanks daniela for your quick response
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