Almost 650 households have realised the dream of homeownership sooner through the Tasmanian Government's popular MyHome Shared Equity Program.
MyHome shares the upfront costs of owning your own home which reduces the deposit you need and your mortgage repayments. With MyHome you need as little as two per cent deposit to buy or build your own home.
Parliamentary Secretary for Housing and Planning, Simon Behrakis said the MyHome program is backing in everyday Tasmanians, allowing them to take the crucial first step onto the property ladder.
"Making it easier to own a home has been a key focus for our Government," Mr Behrakis said.
"In the last 12 months alone, almost 450 families alone have participated in this program demonstrating the power of this initiative.
"Owning your own home is life changing, providing stability, security, and the important opportunity to lay down roots in your community.
Mr Behrakis today met with Josh, who almost gave up on his dream of building his own home due to rising construction costs until he was encouraged to explore his options through the MyHome program.
"Hearing what the program has meant to Josh, and how it helped him to break into the market, reinforces just how important the MyHome program is to help more Tasmanians into homeownership," Mr Behrakis said.
"In recognition of rising property prices, we recently expanded the eligibility criteria by increasing the income limits by 25 per cent $116,934 for a single and $134,475 for a couple respectively. The Government's shared equity contribution also increased to $300,000, or 40 per cent whichever is the lesser amount.
"Under this Tasmanian Liberal Government's 2030 Strong Plan for Tasmania's Future, we are making home ownership a reality for Tasmanians, sooner."
