A spiring first-time home buyers who are locked out of the property market will get a second shot at their dream, thanks to new laws coming into effect next month.
Starting on July 1, the eligibility criteria for the government’s three-pronged Home Guarantee Scheme (HGS) – namely the First Home Guarantee (FHBG), the Regional First Home Buyer Guarantee (RFHG), and the Family Home Guarantee (FHG) – will be extended to include individuals who were previously excluded.
In a landmark move, the definition of a “couple” applying for the First Home Guarantee and the Regional First Home Guarantee will no longer be limited to those who are married or in a de facto relationship.
Instead, the government will allow joint applications from friends, siblings and other family members.
Similarly, the Family Home Guarantee will no longer be limited to single natural or adoptive parents with dependants. Aunts, uncles and grandparents who are single legal guardians of children can also apply.
Denne historien er fra June 2023-utgaven av Money Magazine Australia.
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Denne historien er fra June 2023-utgaven av Money Magazine Australia.
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