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Find Your New Home Through the Shared Equity Home Ownership Scheme

The NSW government’s shared equity homeownership scheme is an initiative aimed at making homeownership more achievable for first home buyer key workers, single parents, and older singles.

The shared equity scheme is planned to begin in January 2023 and will run for two financial years, with 3,000 places available per financial year.

Under the scheme the NSW Government will pay a proportion of the purchase price of a property in exchange for an equivalent ownership share of the property, enabling participants who might otherwise not be able to, achieve their property ownership goals.

To Be Eligible for the Shared Equity Home Ownership Scheme You Must:

  • Be at least 18 years of age and be an Australian or New Zealand citizen, or a permanent Australian resident.
  • Be a single parent of a child or children under 18 years of age, a single person 50 years of age or above, or first home buyer key workers who are nurses, teachers or police.
  • The gross income of the household must be no more than $90,000 for singles and $120,000 for couples.

Property Requirements

  • The property price must be valued at less than $950,000 in Sydney and major regional centres (Newcastle, Lake Macquarie, Illawarra, Central Coast, North Coast of NSW), or less than $600,000 in other regional areas.
  • You must not own an interest in any land in Australia or overseas at the time of purchase.
  • You must have a minimum deposit of 2 percent of the purchase price.

Further details on eligibility criteria and applicable conditions can be found in our helpful blog we wrote earlier right here.

How to Apply For Participation Under the Scheme

There are three simple steps to apply for participation under the shared equity homeownership scheme.
  • Review the above-stated eligibility criteria.
  • Further details are also present in our blog. If you have any further questions regarding the specific applicability of the scheme to your particular situation, it’s recommended that you speak with your tax agent or investment adviser.
  • Now that you have a better understanding of the eligibility criteria, you can contact your local lending institution and apply for conditional approval under the scheme.
  • This is also a good opportunity to assess any ongoing obligations that are required to be met in order to ensure compliance under the scheme.
  • You can then contact our friendly experienced team here at Vogue Homes.
  • We have over 38 years of experience in the industry and specialise in looking after the interests of first home buyers.
  • Please provide your details here so we can embark on our home-building journey.

Why Vogue Homes

Building a new home is a momentous decision where you need the guidance of an experienced partner that’s been there and done it all before and has the flexibility to adapt to your specific needs. Here at Vogue Homes we specialise in providing quality innovative homes that are suited to first-home buyers. Our service has been designed around a number of key principles to provide you with an outstanding customer experience.
Here at Vogue Homes being a second-generation Australian business we recognise the value of hard work. We strive to provide our customers with quality affordable homes that suit their needs. We have simplified the build process by providing upfront, honest pricing that includes a quality finished home to suit modern-day standards, and unlike other competitors who charge additional fees for optional extras, the majority of our finishes come as standard inclusions in our packages, meaning you get true value for money.

At Vogues homes we know no two customers are alike, each has its own unique needs and specifications. As such, all our designs are meticulously crafted to ensure we are able to meet a diverse range of family lifestyles with all the modern comforts.

As part of our customised service, for each of our clients, we offer our in-house interior designer to finish off your new home with quality, brand-name products and materials that suit you. We don’t limit our customers to a small pool of options but offer a wide range of choices to ensure your home has individuality that meets your needs, creating a lasting impression.

At Vogue Homes we’re committed to providing a seamless building experience and going above and beyond for our customers. All of our staff have a passion for building homes and are dedicated to ensuring our customers are looked after right throughout the building journey. We provide ongoing open communication, with regular progress updates, all aimed at ensuring our customers are fully informed and they end up with exactly the type of family home they always wished for.

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