HomeShare can turn the dream of home ownership into a reality for eligible Tasmanians.
HomeShare opens the door to home ownership for those who have enough income to make the step, but need some help.
HomeShare is now available to ALL public housing tenants. Tenants who rent a Housing Tasmania property are exempt from income and asset limits under the scheme.
Of course, you still need enough income to make repayments on your loan.
How does it work?
HomeShare reduces the cost of buying a house. It also reduces the monthly cost of owning it. Under the scheme you share the cost of buying your home with the Director of Housing. This means you may be able to buy a house you otherwise couldn't afford.
How much will you pay?
Under HomeShare you own at least 70 per cent of your home. You will need a deposit and you need enough income to be able to make repayments. The Director contributes up to 30 per cent. This share needs to be paid out before 30 years.
What property can you buy?
There are different options that may suit you, but you can only buy these types of homes through HomeShare:
- The house you are renting if you are a tenant within a Housing Tasmania property.
- A Housing Tasmania property that is advertised for sale by Housing Tasmania.
- A new house and land package.
- A newly built home.
- A new house that you build on your own block of land.
Essential Maintenance Package
If you purchase a Housing Tasmania property through HomeShare you are eligible for the Essential Maintenance Package.
The Essential Maintenance Package helps HomeShare purchasers by providing financial assistance if an essential major item in the home (such as a hot water cylinder) fails.
You can make as many claims as you need, up to a limit of $2 000 (including GST) within two years of your purchase.
Are you eligible for HomeShare?
You must meet the eligibility criteria for HomeShare. That includes having enough income to meet the costs of purchasing and owning a home. For more information see Eligibility for Home Ownership Assistance.
How do I apply for HomeShare?
For more information, or to apply, phone Tassie Home Loans on 1800 687 377 or see the HomeShare website for further information.