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
in Household

No of Children
in Household

Gross income limit
per week
$

Gross income limit
per annum
$

2

0

1 558

81 011

2

1

1 870

97 245

2

2

2 182

113 480

2

3

2 495

129 714

2

4

2 805

145 868

1

0

1 558

81 011

1

1

1 558

81 011

1

2

1 669

86 741

1

3

1 978

102 895

1

4

2 291

119 130

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