01/07/2022
Here are the new property price thresholds for eligibility for the First Home Guarantee (previously First Home Loan Deposit Scheme), effective 01 July 2022.
For those that dont know, the First Home Guarantee is, in my opinion, the best scheme on offer for first home buyers to enter the property market. In super quick terms, it means that you can buy a 700k property with just 55k in savings, without being penalised with extra fees.
They have also increased the number of spots available per year for this scheme to 35,000, up from only 10,000.
This is truly an excellent initiative, and I urge First Home Buyers to think about making 2022 the year they purchase their home. With the apparent cooling market, there is no reason not to jump.