In then housing industry this grant is known as the FHOG.
The $20,000 grant for new builds applies for contracts signed before 30 June 2020. If you are not buying in regional Victoria the grant is half full the amount $10,000.Its an incentive to get people to build new and get the economy going. Its also good for people who really would rather build a brand new home the first time around.
There are some criteria to meet. In essence you or your partner do not get the grant if you previously owned a place that you lived in or if you previously received the FHOG. Its a one time helping hand.
If you qualify for the FHOG you may also be able to get the stamp duty concession for first home buyers under $600000.
Quite apart from financial incentives you get to move into a brand new home and there are great reasons to go for a new build. Over time house depreciate, bathrooms date ,kitchens need updating . With a new build you need not worry about that for 10 years.
YS New builds 