New Build Price Caps Exemption: Who Qualifies and What You Get
Learn how buying a brand new property allows for higher price caps under the First Home Grant scheme.
This exemption provides higher price limits for the First Home Grant when you are purchasing a brand new property rather than an existing home.
Who it's for
This is for people buying a brand new property.
What you get
You can access higher price caps for the First Home Grant. This means you may be able to use the grant toward a more expensive home than you could if you were buying an existing property.
What it costs you
There is no direct monetary cost to access this exemption, but you must provide evidence from the property developer proving that the home is a new build.
The catch to know
If you are buying a property that is "off-the-plan," you must ensure you have all the specific documentation required before the title is issued.
How to apply
- Confirm with your developer that the property qualifies as a new build.
- Gather the necessary evidence of the new build status from the developer.
- Submit your application through the official channels to check your eligibility for the higher price caps.