Browse Forums Home Finance 1 Jan 09, 2014 10:49 am Im wondering if anyone has taken advantage of this in tas? We have a Block of land and are looking at investing 150k into the total house project cost (i know its not much but it is only a 2 bed brick veneer home of 80sqm designed with future extensions in mind. Im interested if it is possible to use the 30,000 grant as the deposit for the house build or do we still need to front up the 30000 in cash to start our project. Also of note we have 25k equity in the land at the time being. Interested in anyone's experiences thorugh out Australia relating to FHOGs also Re: First Home Builders Grant 30k Tas 2Jan 14, 2014 11:44 pm Presuming your $25,000 is "available equity" than you won't need to put any deposit/cash towards the build as you have enough equity to meet the required 5% genuine savings deposit for the total build cost. Also yes you can use the $30,000 towards the build, and it can be released at stage 1 " concrete stage" - however it will depend on the lender as well, as some will only release this at stage 5 ( Completion) some stage 1... Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Re: First Home Builders Grant 30k Tas 3Jan 15, 2014 8:28 am Most of the time you need to complete SLAB stage in construction before the FHOG can be paid by the government so it may become an issue. The equity will not help at this stage as you do need 5% genuine savings to contribute to your construction portion as well. Hi All, we are starting to think of building with Masterpiece Builders in Victoria, has anyone had any feedback or experience with them 0 13588 1 7941 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 27695 |