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HomeSeeker SA Eligibility

There are a few simple but important steps you need to follow to buy a home through HomeSeeker SA. Following these steps will ensure these homes are sold to eligible buyers.

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Eligibility requirements

To find out if you are eligible to buy a home through HomeSeeker SA you need to answer 'yes' to the following statements.

  • either I am, or the person I am buying the home with, is/are an Australian citizen or hold permanent residency in Australia, and is 18 years of age or older 

  • for singles, my annual income before tax is $110,000 or less – OR for couples or families, our annual income before tax is $140,000 or less 

  • my assets are valued at less than $693,500 for couples or families – OR $543,750 for singles 

  • I do not currently own any residential properties, including properties located in regional South Australia, interstate, or overseas 

  • If I do currently own a residential property, I have a binding contract in place for the sale of that property 

  • I intend to live in the new affordable home bought through HomeSeeker SA for a continuous period of no less than 6 (six) months from the date of settlement 

  • I have saved enough money for a deposit and the up-front fees and charges to buy an affordable home 

  • I have finance pre-approved from a bank or financial institution. 

Disclaimer: Please note that eligibility for HomeSeeker SA does not guarantee a person will be able to obtain a home loan or any other finance required to purchase a home. Finance and home loan approvals are determined by relevant financial institutions based on various factors that are independent of HomeSeeker SA eligibility criteria. The South Australian Government and its agencies are not liable for any financial or legal consequences that may arise from a person’s inability to obtain a home loan or other finance, regardless of whether the person satisfies the HomeSeeker SA eligibility criteria. If you are considering purchasing a HomeSeeker SA property, it is recommended that you explore your financing options thoroughly and seek expert advice, such as from a lender or mortgage broker. 

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Calculating your income and assets

Your eligibility to buy an affordable home through HomeSeeker SA depends on your annual income (from the sources listed below) and the value of the assets that you own. Income and asset limits are different depending on:

  • whether you are buying a home on your own or as part of a couple (or family).
  • where you live in South Australia.

Greater Adelaide

Singles

  • your before-tax income is less than $110,000 a year.
  • your total assets owned are valued at less than $543,750.

Couples/Families

  • your household's before-tax income is less than $140,000 per year.
  • your household's total assets are valued at less than $693,500.

Regional South Australia*

Singles

  • your before tax income is less than $85,000 a year.
  • your total assets owned are valued at less than $543,750.

Couples/Families

  • your household's before tax income is less than $115,000* per year.
  • your household's total assets are valued at less than $693,500.

*Defined as the areas of South Australia outside of Greater Adelaide as depicted in this map. 

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Income

For the purposes of HomeSeeker SA eligibility, your income includes any one or more of the following sources: 

  • wages from your employer 

  • income from your own (or family) business 

  • Centrelink payments 

  • Child Support payments 

  • dividends from investments 

  • dividends from trust funds 

  • WorkCover insurance payments 

  • Income earned from outside of Australia 

  • a superannuation income stream 

  

You can determine your before-tax annual income details in a number of ways: 

  • your Tax Return as lodged with the Australian Taxation Office for the previous financial year 

  • your year-to-date income statement from myGov 

  • a calculation based on your payslips for the past 4 (four) weeks.  

 

You don’t need to show us this information, however to confirm you or your household are below the income and asset limits, you will be required to sign a Declaration of Eligibility in the form of a Statutory Declaration. Please note that a person who knowingly makes a false statement in a Statutory Declaration is guilty of a criminal offence. 

 

Assets

For the purposes of HomeSeeker SA eligibility, assets include:  

  • cash and money in a bank, building society, or credit union account 

  • real estate including commercial property 

  • shares, bonds, and other investments 

  • household and personal effects 

  • motor vehicles, boats, caravans, and motorhomes 

  • surrender value of life insurance policies 

  • overseas assets converted to Australian dollars. 

Note: Superannuation is not included when determining the value of your assets. 

 

Confirming your eligibility

To confirm your eligibility, you need to sign a Declaration of Eligibility (in the form of a Statutory Declaration) stating that you meet the eligibility requirements. The real estate agent selling the HomeSeeker SA property will provide this document to you if you are first in line to purchase the property. 

To complete the Declaration of Eligibility you need to: 

  • sign the Declaration 

  • arrange for the Declaration to be witnessed by a Justice of the Peace, Notary Public, solicitor, proclaimed member of the South Australian Police Force, or other authorised witness 

You can find a full list of authorised witnesses (people who can witness your Declaration of Eligibility) here. 

Return the signed Declaration of Eligibility to the real estate agent. There is a time limit – you have 5 (five) working days to return the witnessed document to the real estate agent, otherwise they will offer the property to the next person in line who wants to purchase it. 

The Declaration of Eligibility is a Statutory Declaration in which you state that you meet the eligibility requirements for HomeSeeker SA. A Statutory Declaration is an oath under South Australia’s Oaths Act 1936, and it is a criminal offence to knowingly provide misleading information on this document. 

 

Renting out or selling your home after you buy it

When purchasing a home through HomeSeeker SA you will need to fill out and sign a Declaration of Eligibility (provided by the sales agent) stating that you meet the eligibility requirements and will live in the home for at least six months, in the first 12 months of after property settlement. You are allowed to rent out, sub-divide, demolish or sell the property after living in the home for 6 (six)months, subject to any statutory requirements.  

If you buy your home with the financial assistance of the government, there may be additional requirements that you need to meet. Please refer to your original home purchase contracts for details. 

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Exceptional circumstances

If you can demonstrate exceptional circumstances, you may not have to meet all the eligibility requirements to buy a home through HomeSeeker SA. Not having saved a loan deposit, unemployment or not being able to get finance approval are not considered to be exceptional circumstances.  

If you feel that you can show that your circumstances are exceptional, you will need to apply for an exemption by: 

  • describing the reasons you believe you should not have to meet the eligibility requirements 

  • providing documents that can support these reasons 

Your exceptional circumstances application will be assessed at the discretion of the SA Housing Trust, and you will be advised in writing of the outcome. 

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If your situation changes before settlement

When you express interest in purchasing a HomeSeeker SA property and sign the Declaration of Eligibility we expect that you understand and meet the eligibility requirements. If things change and you believe you are no longer eligible once you have begun the process of buying a home, you must contact us. 

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Deposits

The deposit amount you need to pay on your HomeSeeker SA home will depend on who is selling it (who the vendor is) and how it is being sold – some homes are sold as part of a low-deposit or special finance package. Please read all property listings carefully and ask the sales agent if you need more information.  

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