First Home Owner Grant – FHOG

April 30th, 2009 Nits Posted in Loans, Mortgages |

First home owner grant – FHOG is about to go back to normal from all states in Australia. From last almost a year all states in Australia is promoting & encouraging first home owner to buy properties. If you think of NSW housing then government used to give 7000 AUD to all first home buyers as a FHOG. From last almost a year government has increased that first home owner grant to 14000 AUD to all home buyers and for the owners who are buying brand new properties are getting 21000 AUD FHOG from NSW government. Due to current financial crisis and global interest rate cut down government is promoting first home owner who have money or who have financial security to buy their own home.

FHOG was not considered a massive amount of grant in NSW as before it was 7000 AUD and if you are thinking of buying a property which is around 300K to 500K then 7K is very minor portion of that amount even when you are going to make initial payment of only 50-80K. However now when you are thinking of making initial payment of 50-80K and you get a grant of 21K out of it then it is a considerable amount. Many people are buying properties at the moment and getting benefit of government FHOG. If you are thinking of first home owner grant then consult Iden Money experts for more information on FHOG.