Affordable home eligibility
What are the new eligibility criteria for homes built on these affordable home purchase sites?
To qualify for a dedicated affordable home you must meet all of the following criteria:
- The total gross income of all applicants must not be greater than $100,000 for households of up to 2 children, increasing by $16,000 per child up to a capped $148,000 for 5 or more children
- All applicants must be at least 18 years old
- All applicants must satisfy current and previous property ownership and residence tests
- At least one applicant who will own the property must live in the home continuously for 12 months from the issuing of a certificate of occupancy
- The applicants must be registered on the government’s managed affordable home purchase database.
How has this changed from the previous policy?
Under the previous affordable home purchase policy, there were no eligibility criteria.