Although the First Home Owners Grant Boost has only been extended for a short time, the original grant will continuing to give first home buyers a leg up past December 31 2009. The boost was a top up of the original FHOG of $7000 for both new builds and established houses. So any extension represents a bonus.
Don’t forget you can still save for your first home with the Governments “First Home Buyers Deposit Saver Scheme.” No need to rush, house price’s may well come down 20% post 31 December 2009, as the depression deepens! So keep saving.
In the mean time speak to a quality Mortgage Broker about how much you need to save.