Browse Forums Building A New House 1 Mar 11, 2009 9:39 am Hi,
I was told by somebody that to receive the FHOG boost of $14,000 you need to not only sign before June 30, but also have the slab layed within 6 months of signing. Does anyone know if this is true, or if there are any other little "catches"? Greatly appreciated! Cheers! Re: First Home Owners Grant 2Mar 11, 2009 9:48 am From my understanding is that you'll need to sign the contract before 30th of June but you will only receive the grant once your slab is down.
Please correct me if im wrong.. Wisdom Homes Manhattan 39 Blog - https://edmondson-park.blogspot.com.au H1 Thread - https://forum.homeone.com.au/viewtopic.php?f=31&t=88210 Re: First Home Owners Grant 3Mar 11, 2009 10:09 am You need the slab down before the end of the year and construction finished before the end of next year IIRC.
And the building contract signed before June 30 Re: First Home Owners Grant 5Mar 11, 2009 10:45 am Coralea HI, We have bought a block of land and still havent decided on a house hoping to do thatthis weekend, do youthink we have left it all too late? No I dont think you've left it too late. I guess it depends on how many changes you want done to the house and how good your builder is at drawing up what you've requested. Some builders keep getting it wrong, and that's why it delays the contract signing. But usually if you dont have many structural changes, then you should be right. For the FHOG, you need to sign your building contract before 30 Jun 09. Construction must commence 26 weeks from the signing date, and you've got 18 months to complete the build. There are time extensions on the grant if you experience delays due to unforeseenable circumstances. But that is looked at as a case by case scenario so there is no guarantees that they will extend the grant for you. Hope that helps, I only know coz I called the SRO so many times!! Re: First Home Owners Grant 6Mar 11, 2009 10:52 am As someone who is going through this right now and after many conversations with banks, the deal with the FHOG is this. (And I'm soon going to write a blog about this after I get the unconditionally approved from the banks, showing all of our steps throughout the loan and building process to help others.)
But 1. Get a rough estimate of your house and land 2. Take this to the bank with all of your supporting documents for your pre-approval (This can be the broker of the builder or your own bank, but builders generally won't let you put a deposit down to secure land witout pre-aproval first). 3. Take the pre-approval to the builders (PD for us) and put a deposit down to secure your land. 4. Sign the land contract NOTE: For separate land and building contracts, you can take just the land contract to the bank for your land loan. 5. Get your building contract and get that signed. The banks need to evaluate contracts for land and / or house loans. NOTE: For house and land loan packages you need BOTH land AND building contracts before the banks will unconditionally approve you. 6. Land settlement - Land portion of your loan is paid 7. Slab is poured and your FHOG is paid. **Just released, I went a bit off topic.** You need to have your slab poured within 26 weeks of signing your builders contract. Also did a quick search. https://forum.homeone.com.au/viewtopic.php?p=158893 https://forum.homeone.com.au/viewtopic.p ... light=fhog Hope that helps. Re: First Home Owners Grant 7Mar 11, 2009 10:57 am Coralea HI, We have bought a block of land and still havent decided on a house hoping to do thatthis weekend, do youthink we have left it all too late? Not at all, I've only just done pretty much the same (Although we've chosen our house). Just let your builder know that you need the contract drawn up and signed before June 30. If they can't do it then go to another builder. Three and a half months before June 30 anyway, so you have heaps of time. You could even tell them that the building loan is conditional to the contract being drawn up before June 30 Re: First Home Owners Grant 8Mar 11, 2009 11:55 am Astroboy11 Hi, I was told by somebody that to receive the FHOG boost of $14,000 you need to not only sign before June 30, but also have the slab layed within 6 months of signing. Does anyone know if this is true, or if there are any other little "catches"? Greatly appreciated! Cheers! Don't know if there are variations to the rules for the different states, but here in WA there are only three conditions to get the FHOG boost: 1. You must sign the contract with the builder by 30 June (and that is the CONTRACT not the preparation of plans agreement). 2. The contract must state that the house will be finished within 18 months. 3. Building must start within 26 weeks of signing the contract. You can then apply for the grant once your progress payments to date exceed $21,000. All factsheets are here: http://www.dtf.wa.gov.au/cms/osr_content.asp?ID=344 Gina Re: First Home Owners Grant 9Mar 11, 2009 12:08 pm We were having the exact same problem!
Make sure you sign your contract before June 30th - obviously. With the building within 26 weeks, that was our main trouble but apparantly you have 26 weeks from when the land is titled! So don't stress about the 26 weeks thing if your hoping to start building on your land asap Re: First Home Owners Grant 10Mar 11, 2009 12:13 pm georgie We were having the exact same problem! Make sure you sign your contract before June 30th - obviously. With the building within 26 weeks, that was our main trouble but apparantly you have 26 weeks from when the land is titled! So don't stress about the 26 weeks thing if your hoping to start building on your land asap Are you sure it's 26 weeks from when land settles. From my understanding, it was 26 weeks from when you sign the contract. This was take from the SRO site for Victoria: New homes being built under a building contract To be eligible to receive the $14,000 Boost for building a new home, first home buyers must have entered into a contract to build a home between 14 October 2008 and 30 June 2009 (inclusive). In addition: construction must commence within 26 weeks of the date of the contract the contract must specify a completion date for building work within 18 months of the date of construction commencing or construction must be completed within 18 months of the construction commencing. Re: First Home Owners Grant 11Mar 11, 2009 12:17 pm Yea we were really worried we wouldn't get it but the broker said that because it's a titling issue holding up the process and not our decision the banks push it through and get it for you. So we have been told we will definatel get it all and our land doesn't settle till the end of August which is a LONG time away lol Re: First Home Owners Grant 12Mar 11, 2009 12:19 pm georgie Yea we were really worried we wouldn't get it but the broker said that because it's a titling issue holding up the process and not our decision the banks push it through and get it for you. So we have been told we will definatel get it all and our land doesn't settle till the end of August which is a LONG time away lol Check with the SRO as it is on a case by case basis. Georgie and I are still going to try to allow the 26 weeks between the contract signing and the start date. Re: First Home Owners Grant 13Mar 11, 2009 2:14 pm In WA, there is a lot of misinformation out there that has been spread further because of last weekends article in the West Australian newspaper that to receive the FHOG the slab must be put down by the 30th June.
Everytime I mention to someone about the FHOG and our worry of the June 30th deadline someone is always there to say that the slab must be down by then, where as the developer, builders and settlement agents I've spoken to have assured me that only the contract to build needs to be signed, and other caveats met. Fustrating. Re: First Home Owners Grant 14Mar 11, 2009 2:34 pm Georgie,
The time extension is only granted if there is an unforseenable delay and out of your control. If you know that your land settles in August, and you miss that 26 weeks build period, then it's foreseenable. It is looked at as a case by case. I spoke to the person at SRO and she couldnt guarantee that I will be eligible for the grant if the land settlement gets pushed, which is out of my control. Just something to think about. Altho, I could be wrong. There is alot of mis information out there about the grant. Re: First Home Owners Grant 15Mar 11, 2009 6:20 pm Heh, as luck would have it, ours was paid into our account today. Re: First Home Owners Grant 16Mar 11, 2009 10:00 pm Rex In WA, there is a lot of misinformation out there that has been spread further because of last weekends article in the West Australian newspaper that to receive the FHOG the slab must be put down by the 30th June. You're kidding! ABC Media Watch eat your heart out. Correction and apology by the newspaper demanded. Re: First Home Owners Grant 17Mar 12, 2009 7:45 am thlo Rex In WA, there is a lot of misinformation out there that has been spread further because of last weekends article in the West Australian newspaper that to receive the FHOG the slab must be put down by the 30th June. You're kidding! ABC Media Watch eat your heart out. Correction and apology by the newspaper demanded. Did you demand for them to change it to "contract must be signed before 30th June" or "slab must be put down for owner builders before 30th June, other construction only requires contract signed before 30th June". If it's the former, the misinformation is just being shifted. They should research better anyway. Stevep79 & Principessa Finished building Wisdom Homes Impression 33mkII in The Ponds, Sydney http://lilypadintheponds.blogspot.com Re: First Home Owners Grant 18Mar 12, 2009 12:49 pm Thankyou all for the feedback. appreciate it!
Cheers! Re: First Home Owners Grant 19Mar 12, 2009 1:50 pm If you're in QLD and not getting your FHOG done through your bank then you dont get paid the FHOG until you submit a handover certificate saying it's all been completed.
This is kind of a hassle as you really do have to wait a while in some cases Our Blog! http://cityplantation.blogspot.com | Building the Havana 485 with Plantation Homes (Henley) Re: First Home Owners Grant 20Mar 12, 2009 2:05 pm Gester If you're in QLD and not getting your FHOG done through your bank then you dont get paid the FHOG until you submit a handover certificate saying it's all been completed. This is kind of a hassle as you really do have to wait a while in some cases Yep that's right, it's the same in all states. If you are building and don't apply for the grant through an "approved agent" (read: bank), you have to wait until completion. Stevep79 & Principessa Finished building Wisdom Homes Impression 33mkII in The Ponds, Sydney http://lilypadintheponds.blogspot.com So it looks like we finally have some movement on site! Definitely later than expected, but I'll take any progress at this point. I'll drop by over the weekend to get… 5 27716 We already paid for somfy motors for the blinds. The quote above was purely for “pre-wiring” so the blinds company can install the motors and blinds. That’s why we… 5 16276 11 41644 |