What is “Streets Ahead” all about?
Streets Ahead provides eligible Tasmanians with a number of incentives to help buy a home from Housing Tasmania.
Am I Eligible for “Streets Ahead” Incentive Program (SAIP)?
The eligibility criteria for Streets Ahead are the same as for HomeShare.
What are the “Streets Ahead” incentives?
- Deposit assistance – a grant of $6000 is provided to assist purchasers with a deposit for the purchase of a Housing Tasmania property.
- Payment of mortgage insurance premium – payment of up to $500 towards the cost of mortgage insurance premium.
- Payment of Legal Costs: Payment up to $500.
- Independent financial counselling – free financial counselling is available from Anglicare. This counselling will enable purchasers to assess their budget and capacity to buy a property. Anglicare is contactable on 03 - 62 343510.
- Independent building report – an independent building report is available free of charge when a contract has been signed by Housing Tasmania and the purchaser. If the building report shows a structural defect, the contract allows the purchaser to change their mind about purchasing the property.
- Value of tenant’s improvements – public housing tenants purchasing a property may have the value of any improvements added to the deposit assistance (when those improvements have added value to the house). The increase in house value due to the improvements is calculated by the independent Office of the Valuer General.
What property can you buy?
Through Streets Ahead, you can only buy a home from Housing Tasmania.
If you have received from Housing Tasmania an invitation to consider buying through shared equity the house you are renting, you may buy the house through Streets Ahead.
Vacant houses may also be purchased through Streets Ahead from Housing Tasmania – these houses will always be advertised by real estate agents in Tasmania. Property listings can be viewed via the following links for Southern Tasmania, Northern Tasmania and North Western Tasmania
Are there any other conditions with “Streets Ahead”?
A caveat will be registered on the title of the property and will apply for a period of three years.
The caveat forbids registration of dealings in the property without the consent of the Director of Housing.
If the applicant does not abide by the conditions under which SAIP assistance has been provided then the repayment of that assistance to the Director of Housing is secured by the caveat.
The applicant must repay the total amount of deposit assistance ($6,000) and the value of other SAIP assistance, up to an aggregate value of $8,000 within 28 days of being requested in writing to do so, if an applicant is found to have breached the eligibility criteria for SAIP.
The following would be considered breaches of SAIP:
- Not residing in the property as the principal place of residence;
- Providing incorrect information in relation to eligibility; and
- Selling all or part of the property within three years of the settlement date (five years in the case of house and land packages).