The latest news on the $20,000 state government grant is, the land must be in the applicant's name.
What does this mean?
It means you need to settle on the land first and claim the money back.
Only those that qualified for a house and land package before will qualify now.
Anyone planning on using the $20,000 as a deposit can't.
There would be a few counting that the grant could be used the same way the First Home Owners Grant works. You can use this as part of the deposit.
Who will this affect?
This will affect the first homebuyers or people with no deposit. First home buyers will need to come up with the deposit at settlement and then claim the rebate back.
Whats this mean?
If the grant could be used as a deposit like the FHOG a lot more people would qualify. This would increase the house and land package cost in the short term. It means good old fashioned savings is the key.
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