If you buy an investment property, are you still eligible for the First Home Owner Grant? Well, this depends on where you live.
The First Home Owner Grant (FHOG) makes it easier for first-time homeowners to buy or build a home. Introduced in 2000, it was designed to counter the detrimental effect of the goods and services tax (GST) on buying or building a home.
The grant is offered as a lump-sum payment to first home buyers who buy or build a residential property and then live in it. The amount you receive from the FHOG and whether or not you are eligible for the grant varies between states and territories, but you can never receive a grant if you’ve already received one elsewhere in Australia.
The FHOG is only available for the purchase of owner-occupied properties, not investment properties. So if you decide to buy an investment property first and then later decide to buy your first home, will you still be eligible for the grant on the latter purchase?
To find the answer, you’ll need to look at the grant regulations specific to where you live.
For more information about eligibility for the First Home Owner Grant, contact the revenue office in your state or territory, and read our guide on the grant.