Tasmanian Inspiration: The First Home Owner Grant
The Island of Inspiration - Tasmania is commonly known for this moniker and with a spectacular array of natural locations, then there really is no doubt why many are indeed inspired to explore what this state has to offer. Located at the south of Australia, its remoteness makes it an ideal place to relocate.
You can build a home in this exotic spot, but if you're in need of some financial assistance, then you should know that the government of Tasmania offers something called the First Home Owner Mortgage Loan.
The First Home Owner Mortgage was created so that first time home buyers won't be able to feel the costly effects of the Goods and Services Tax as much. This home ownership tax is offset by the $7000 mortgage which is given to qualified applicants. In order to receive this sum, there are some very specific rules and conditions that you must learn first.
Before anything else, you have to be an Australian citizen or a permanent resident, and you must be 18 years old or older. Next, you can't own a piece of property anytime after the date July 1, 2000. You must also show proof that you really are set on building or purchasing a house. Once you have your house, you must live in it for 6 straight months and this period must be within the year after completion or purchase.
If you want to learn more about the First Home Owner Mortgage Loan, you may consult with the State and Territory Revenue Office and its approved agents.
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