If you’re a first home buyer looking for somewhere affordable to live, the Victorian government is offering a leg up, with premier Daniel Andrews announcing today that the First Home Owner Grant will be doubled from $10,000 to $20,000, from the start of the new financial year on July 1.
The catch is you have to build a new house in country Victoria. The grant for existing houses was phased out in 2013.
The government is expecting up to 6,000 people to take the cash, which is available to first home buyers building new homes valued up to $750,000, in a major boost to the state’s country towns.
“This is a win for first home buyers in regional Victoria, and it’s a win for local jobs too,” Andrews said.
“By doubling this grant, we’re giving young people in regional Victoria even more reason to live locally.”
The grant will be applicable to contracts signed from 1 July 2017 to 30 June 2020, costing $50 million over three years.
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