Can the FHLDS be used to purchase an investment property?
No, the FHLDS cannot be used to purchase an investment property. The scheme is only available to first-time homebuyers who intend to live in the property they are purchasing. This means that doctors who are eligible for the FHLDS cannot use it to purchase an investment property that they plan to rent out. The purpose of the scheme is to help people enter the property market as owner-occupiers, not as investors.
Can the FHLDS be used to purchase a holiday home?
No, the FHLDS cannot be used to purchase a holiday home. The scheme is only available to first-time homebuyers who intend to live in the property they are purchasing. This means that doctors who are eligible for the FHLDS cannot use it to purchase a holiday home that they plan to use for vacations or rent out to holidaymakers. The purpose of the scheme is to help people enter the property market as owner-occupiers, not as holiday home buyers.
Are there any other restrictions on the use of the FHLDS?
Yes, there are some other restrictions on the use of the FHLDS. Firstly, the property being purchased must be a residential property, not a commercial property. Secondly, the property must be purchased within the price cap set by the government, which varies depending on the location of the property. For example, in Sydney, the price cap for a house is $700,000, while in regional areas of New South Wales, the price cap is $450,000. Finally, the scheme is only available for new or off-the-plan properties, not for existing properties.
