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How soon after a house purchased using FHSS do I need to move in?

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How soon after a house purchased using FHSS do I need to move in?

 

"so long as you intend to live in the house as soon as practical" is a little vague. I'm looking for some detail on the maximum length that period of time can be? Or is there detail on how frequently I need to stay in the house to claim it is my main residence?

 

Some background: I work in an industry where I am often relocating and I plan on continuing this work for at least 2 more years. The pay is good and it would be great to buy my home whilst still working this job. I would like to purchase in my hometown where I intend to live in the future but I'm uncertain when this will be. As long as I don't lease the property, and I visit the house as frequently as my work breaks allow, am I able to buy my home using the FHSS? Are there black and white rules, timelines, maximum vacancy periods?

 

Thanks!

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Hi @Haydonhall,

 

Welcome to our Community!

 

If you've applied for a release of your funds, you have 12 months from the time the amounts have been released for you to sign a contract to purchase or construct a home. When you've signed a contract, you must genuinely intend to occupy the property as a home, and demonstrate this by:

  • occupying or intending to occupy the property as soon as practicable after purchase
  • occupying or intending to occupy the property for at least six of the first 12 months from when it is practicable to occupy it.

You can find information on our website about the FHSS scheme, or you can phone us on 13 10 20 between 8am - 6pm, Monday to Friday to speak with an operator.

 

Thanks, JodieH.

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Best answer

ATO Certified

Community Support

Replies 1

Hi @Haydonhall,

 

Welcome to our Community!

 

If you've applied for a release of your funds, you have 12 months from the time the amounts have been released for you to sign a contract to purchase or construct a home. When you've signed a contract, you must genuinely intend to occupy the property as a home, and demonstrate this by:

  • occupying or intending to occupy the property as soon as practicable after purchase
  • occupying or intending to occupy the property for at least six of the first 12 months from when it is practicable to occupy it.

You can find information on our website about the FHSS scheme, or you can phone us on 13 10 20 between 8am - 6pm, Monday to Friday to speak with an operator.

 

Thanks, JodieH.

Newbie

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Thanks for taking the time to respond Jodie, though this doesn't clarify any of the ambiguity as you've just re-posted what the guideline states. I'll try and find my answers another way. Thanks all the same!
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