The Streets Ahead Incentive Program can help Tasmanians on low to moderate incomes to buy a home from Housing Tasmania.
The Streets Ahead Incentive Program provides:
Financial assistance:
- $12 000 to help pay a house deposit
- up to $500 to help with a mortgage insurance premium and
- up to $500 to help with legal costs associated with buying a house.
Additional support including:
- Independent financial counselling from Anglicare, free of charge. Financial counselling can help you to assess your budget and ability to buy a house. Anglicare can be contacted on 1800 243 232 (freecall)
- Independent building report – once the purchase contract has been signed by the purchaser and Communities Tasmania. If the building report shows a structural defect, the purchaser can change their mind about buying the house
- the purchase price is determined by the Office of the Valuer General (OVG) and
- if an essential major item in the home fails and needs to be replaced, the Essential Maintenance Package will enable a claim to be made, up to a total of $2 000 over two years.
To be eligible for Streets Ahead, 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 Communities 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 within three years before the date of application
- not owe any money to Communities Tasmania and
- not have previously received assistance under Streets Ahead, Home Ownership Assistance Program or HomeShare.
For more information:
Department of Communities Tasmania
Phone: 1300 665 663 (Communities Tasmania)
Web: https://www.communities.tas.gov.au/housing/streets-ahead