Tasmanian Government Concessions

HomeShare

Concession details

HomeShare can turn the dream of home ownership into a reality for eligible Tasmanians. It opens the door to home ownership for those who have enough income but need a helping hand.

The cost of buying a home is shared with the Director of Housing. Provided the applicant has a deposit and enough income to make repayments, they will own at least 70 per cent of their home. The Director of Housing contributes up to 30 per cent. The Director’s share must be paid out within 30 years.

Under HomeShare, purchasers can buy a Housing Tasmania property for sale, a newly built home or a house and land package.

Purchasers who buy a Housing Tasmania property will qualify for the Essential Maintenance Package. If an essential major item in the home fails and needs to be replaced, the Essential Maintenance Package will let them claim up to a total of $2 000, starting from the day of settlement for a period of two years.

To be eligible for HomeShare, purchasers must:

  • have an income to meet the costs of purchasing and owning a home
  • be under income and asset limits (tenants who rent a Housing Tasmania property are exempt from this requirement)
  • be an Australian citizen or permanent resident, living in Tasmania
  • be an individual at least 18 years (not a business or organisation)
  • have a minimum deposit of $3 000 or 5 per cent of the purchase price, whichever is the greater
  • be able to pay legal and establishment fees
  • live in the house as their principal place of residence
  • not own or have an interest in any other real property (land)
  • not be an un-discharged bankrupt or discharged from bankruptcy three years prior to the date of application
  • not owe any money to Housing Tasmania and
  • not have previously received assistance under the Streets Ahead Incentive Program, Home Ownership Assistance Program or HomeShare.

For more information:

Phone: 1800 687 377 (Tassie Home Loans)
Web: www.homesharetas.com.au