First Home Owner Grant NT

The Northern Territory Government has revised its policies for first-home buyers and existing homeowners who require assistance to buy a property. The changes are effective from 1 October 2024.

• The $50,000 HomeGrown Territory Grant increases the old First Home Owner Grant for first-home buyers building property in the NT or buying a brand-new home there.
• The $10,000 HomeGrown Territory Grant is for first-time home buyers buying an established home in NT.
• The $30,000 FreshStart New Home Grant is for existing homeowners who want to buy or build a new home in NT.

How Much Is The HomeGrown Territory Grant In NT?

$50,000 if you’re building your first home, $10,000 if you’re a first-home buyer purchasing an established home or $30,000 if you’re a homeowner buying or building a new home in NT.

What Grants Are Available In NT?

So there are two different grants available in NT:

• HomeGrown Territory Grant
• FreshStart New Home Grant

The amount of the grant you receive depends on the type of property you’re buying and whether you’re a first-time buyer or an existing homeowner.

HomeGrown Territory Grant

The HomeGrown Territory Grant is available for first-home buyers who are either buying an established property or building their first home in the Northern Territory.

• $50,000 is available for first-home buyers building their first home.
• $10,000 is available for first-home buyers buying an established property.

There is no cap on the build or purchase price.

FreshStart New Home Grant

The $30,000 FreshStart New Home Grant is available for homeowners who want to purchase or build a new home. The grant is available for non-first home buyers.

There is no cap on the build or purchase price.

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What Are The Eligibility Requirements For The HomeGrown Territory Grant?

The eligibility requirements for the HomeGrown Territory Grant are as follows:

• Be a first-home buyer
• Sign a contract to buy or build a home in the Northern Territory between 1 October 2024 and 30 September 2025.
• At least one applicant must be 18 years or older.
• You are applying as a natural person (not a company or trustee)
• At least one applicant is an Australian citizen or permanent resident.
• Live in the home for at least 12 months after taking possession of the property or once the construction of the home is complete.

The HomeGrown Territory cannot be used in conjunction with the FreshStart New Home Grant.

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What are the eligibility requirements for the FreshStart New Home Grant?

The eligibility requirements for the FreshStart New Home Grant are as follows:

• Sign a contract to buy or build a home in the Northern Territory between 1 October 2024 and 30 September 2025.
• At least one applicant must be 18 years or older.
• You are applying as a natural person (not a company or trustee)
• At least one applicant must be an Australian citizen or permanent resident.
• Live in the home for at least 12 months after taking possession of the property or once the construction of the home is complete

The FreshStart New Home Grant cannot be used in conjunction with the HomeGrown Territory Grant.

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When Will The Grant Be Paid?

Depending on the type of contract and what lender you’ve applied with, the HomeGrown Territory Grant in the NT will be paid under the following circumstances:

Situation	When will the grant be paid?
If you’re buying a new home	If you applied with an approved agent, the grant will be received at settlement. If you applied through TRO, the grant will be received once your name is registered on the property title.
If you’re buying a home under a terms contract	When you’re in possession of your home and instalments of at least $10,000 have been made (excluding deposit)
If you’re building a new home	Once foundations are laid and progress payment of at least $10,000 have been made (excluding deposit)
If you’re an owner-builder	Once the construction of the home is complete

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How To Apply For The Grant In The NT

• Fill in the application form
• Make sure to attach the required supporting documents.
• You must include anyone who will be on the property’s title on the FHOG application. If your spouse (de facto partner) will not own any part of the home, you must still include their name as a non-applicant spouse.
• If you are getting financial help to buy or build your home, lodge the application with the financial institution.

This is an application guideline for the grant from the Territory Revenue Office (TRO).

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Are You Ready To Apply For The Grant In NT?

We’ve helped many first home buyers with their FHOG application and with buying their first home.

From first home buyer loans to an extensive first home buyer’s guide, we’ve got it covered.

Our mortgage brokers are experts at helping you with your first home loan. Call us on 1300 889 743 or complete our free assessment form.