From 1 July 2016, the First Home Owner Grant Scheme is available to First Home Buyers who purchase or build a new home. A new home is defined under the legislation to include a substantially renovated home and a home built to replace demolished premises.
The definition of a substantially renovated home now requires that the home must be created through renovations in which all, or substantially all, of a building is removed or replaced (whether or not the renovations include the removal or replacement of foundations, external walls, interior supporting walls, floors or staircases).
The definition of a home built to replace demolished premises now requires that the home must be built on the same land as the demolished premises.
For further information or advice concerning buying your first home, contact the experienced team at Rockliffs Lawyers today.