Eligibility for Home Ownership Assistance
The eligibility criteria for HomeShare and Streets Ahead are the same.
You may only access HomeShare OR Streets Ahead assistance, not both.
To be eligible you must:
- have an income to meet the cost of purchasing and owning a home
- be under income and asset limits (tenants in Housing Tasmania properties are exempt from this requirement)
- be an Australian citizen or permanent resident, living in Tasmania
- be an individual at least 18 years old (not a business or organisation)
- have a minimum deposit of $3 000 or five per cent of the purchase price, whichever is greater
- not own or have an interest in any other real property (land)
- not be an un-discharged bankrupt or discharged from bankruptcy within three years before the date of the application
- not owe any money to Housing Tasmania
- not have received help under HomeShare, Streets Ahead or Home Ownership Assistance Program (HOAP) before
- be able to pay legal and establishment fees
- live in the house you buy (it has to be your main residence).
Household income and asset limits are:
No of Adults | No of Children | Gross income limit | Gross income limit |
|---|---|---|---|
2 | 0 | 1 829 | 95 119 |
2 | 1 | 2 196 | 114 180 |
2 | 2 | 2 562 | 133 242 |
2 | 3 | 2 929 | 152 304 |
| 2 | 4 | 3 294 | 171 271 |
1 | 0 | 1 591 | 82 712 |
1 | 1 | 1 829 | 95 119 |
1 | 2 | 1 959 | 101 847 |
1 | 3 | 2 323 | 120 814 |
1 | 4 | 2 690 | 139 877 |
Income and asset eligibility limits are updated each year as at 1st of July.
HomeShare or Streets Ahead?
You will need to consider whether to apply for HomeShare or Streets Ahead assistance. The following table outlines the key differences and benefits.
Key Differences and Benefits | HomeShare | Streets Ahead |
|---|---|---|
Can I purchase a Housing Tasmania property? | Yes | Yes |
Can I buy a new house? | Yes | No |
Does the Director own a share of the property? | Yes | No |
Will I get assistance towards the deposit? | No | Yes |
Can I get help with the legal costs? | Yes | Yes |
Can I get free independent financial counselling? | Yes | Yes |
Will I receive a free independent building report? | No | Yes |
Can I access the Essential Maintenance Package for a Housing Tasmania property? | Yes | Yes |
Is there a minimum period of time I have to own the house? | No | Yes |