Government schemes, incentives and websites

Both Federal and State Governments often provide schemes and initiatives to make acquiring or building a home easier to achieve.

The First Home Owner Grant (FHOG) is a National scheme funded and administered by States and Territories to assist home buyers purchase their first home. Details of FHOG are available at http://www.firsthome.gov.au.

These schemes may change from time-to-time and may be available for only a limited period. Below is a list of the current Government and State schemes and incentives:

• FHOG First Home Owner Grant;

• FHLDS First Home Loan Deposit Scheme (in lieu of Lenders Mortgage Insurance);

• Australian Government HomeBuilder Grant;

• State HomeBuilder Bonus Grant;

• State Stamp Duty Concessions.

The Australian Government website https://moneysmart.gov.au/ has useful resources and tools to manage money, plan for future, grow wealth, and reduce debt, including:

• buying a house;

• investor toolkit;

• paying off mortgage sooner;

• switching a home loan;

• budget planner;

• superannuation calculator;

• financial advice;

• saving for an emergency fund.