Eligibility Checklist
Please note: If you enter into a contract to purchase or build a home, or commence construction as an owner builder, on or after 17 September 2010 and the market value of the property exceeds $575 000 you are not eligible for a FHOG.
The market value of the property:
- in the case of a contract for the purchase of a new home is the consideration for the purchase of the home, or, where that consideration is less than the market value, then the market value of the property;
- in the case of a comprehensive building contract is the sum of the consideration for the building contract and the market value of the property on which the home is to be built as at the time when the contract is made, or, where the consideration for the building contract is less than the actual costs, the sum of the actual costs to build the home and the market value of the property on which the home is to be built as at the time the building contract is made;
- in the case of an owner builder is the market value of the property on which the home is situated at the time the home is completed and ready for occupation as a place of residence.
This page was last reviewed 20 November, 2012
