Federal budget incentives to help buy your new home sooner

Date: 20 May 2021

Considering your first home? The Federal Budget has some incentives that will help you on your journey

The Great Australian Dream was front and centre in this year’s Federal Budget announcement, with significant commitments to help Australians buy their first home sooner. With several new incentives for first home buyers and families, we are excited that more people are being supported and encouraged to start their house hunt!

For first home buyers, an additional 10,000 places will be made available under the First Home Loan Deposit Scheme to help home buyers purchase a home with a deposit as low as 5 percent, as well as a guarantee against mortgage insurance. The Government has also committed to supporting an additional 10,000 new construction projects this coming financial year.

Beyond first time buyers, the Government is also offering support for single parents, providing eligible single parents with dependents the opportunity to build a new home or purchase an existing home with a 2 percent deposit. From 1 July 2021, 10,000 Family Home Guarantees will be made available over four financial years.

With such strong housing incentives, 2021 may be the year to find the perfect home. For further information visit https://www.nhfic.gov.au/what-....