If you are over 60 years of age and looking to buy a new home to live in, you may be eligible for the South Australian Government’s Seniors Housing Grant (SHG). The amount of the grant is calculated on the market value of the house; eligible homes with a market value of up to $400,000 will receive the full $8500, this amount will phase out for eligible homes valued up to $450,000.
The SHG applies to:
- A contract to purchase a newly built home entered into between 1 July 2014 and 30 June 2016
- A building contract for a new home entered into between 1 July 2014 and 30 June 2016, subject to limitations on building completion dates.
- An off-the-plan purchase entered into between 1 July 2014 and 30 June 2016 subject to limitations of building completion dates.
Only one SHG is payable in relation to a particular new home and at least one of the applicants must:
- Be 60 years or older, and
- Occupy the home as their principal place of residence for a continuous period of at least six months, and starting within 12 months after the completion of the eligible transaction.
To check if you qualify for the SHG, or for any other questions, please call or email our office and speak to one of our staff.