If you want to move into a home but don’t have a credit history or past ownership, then you will need different types of assistance to move into your home.  An alternative that you can consider is the FHOG, also known as the first home owners grant.  This can give you a foundation to moving into your home while providing you with alternatives to getting the financial assistance desired for home ownership. 

The FHOG was first introduced in the year 2000 because of the low amount of demand for those that were moving into homes.  The grant specifies that individuals can receive up to $7000 for their first time ownership.  Typically, this goes to the down payment of the home; however, many will use it for the first months of payment to the home or will work with a rent to own agreement with the grant money. 

To look into the FHOG, you first have to specify which territory of Australia you reside in.  There will be a specific amount of money that is provided into these areas, as well as unclaimed money that you can apply for.  You want to make sure that specifications with the grant, such as tax regulations, land values and penalty notices are applicable to your needs.  Since the grant is designed only to move into a home, you will need to make sure that other areas fit with your finances and budget. 

The need to continue stimulating the economy in real estate has also allowed the FHOG to continue to grow in demand.  There are now more opportunities for those who are interested in expansion and offering more grants to first time buyers.  The grants are now expanding into different segments and demographics which can provide opportunities for individuals in need of homes.  There are also grants available for development of homes to offer more to the expansion of the real estate division.