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Accomplish Your Dream Using First Home Buyers

Buying your first home is a personally satisfying yet challenging ordeal. With the current economic crunch, most people are on the spree of selling rather than buying. This has led to a steep fall in prices, which on the other hand is good news for women and men interesting in real estate. The most important pinch that hits many is the huge amount of money involved in buying a home. When it’s a first time home buyer there are more reasons apart from money issues alone.

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What is a first home buyer’s grant? However, the good news is that the Federal Government has now launched first home buyers grant to encourage first homeowners. Originally introduced as a credit scheme for interested house buying citizens in 2008, this was later upgraded to a grant by a new government.

According to the grant, first-time homeowners get up to $7,000 as a grant. This value is completely non-recourse, in other words, does not need to be paid back ever!

This helps both buyers and sellers alike as real estate buyers get grants for buying, which indirectly boosts the realty sector benefiting sellers. The value was up to $14,000 last year and has not been bounced back to the original value of $7,000 per first home buyer.

The first home buyers grant is typically aimed to encourage the people, specifically first house buyers. Now that you are convinced this scheme is real, we are moving to details pertaining to applying or qualifying.

Though all citizens can apply for grants specific grants have criteria. So what are the limitations for applying? Any citizen who is above the age of 18 and is a tax payer can apply for this grant provided he/she is interested in real estate.