Why joining the ADF can help you buy a house sooner.

As buying a home gets more out of reach in the land down under, many Australians are considering a career in the Australian Defence Force (ADF) to get a foot in the property market door. 

Findings from Compare the Market have identified the defence industry as the number one most searched industry by job seekers in Australia. With an increase in applications of almost 15% in the last 12 months as reported by the ADF. 

This uptick in interest could be due to the significant home-buying incentives available to Permanent Forces and Reserve members like the Home Purchase Assistance Scheme (HPAS), Defence Home Ownership Assistance Scheme (DHOAS) and the Home Purchase or Sale Expenses Allowance (HPSEA).*

Let’s take a closer look at them. 

Home Purchase Assistance Scheme (HPAS).

Under the HPAS scheme, ADF members enjoy a lump sum payment of $16,949 (before tax) when a new or established property is purchased. Of course, there are eligibility conditions like the home must be within the members current or next housing benefit location and purchased after the member has received their posting order, yet even with these requirements, the financial incentive is extremely attractive. 

Learn more about HPAS.

Defence Home Ownership Assistance Scheme (DHOAS).

Another fantastic scheme is DHOAS. This provides current and former ADF personnel with a monthly subsidy to go towards their home loan. It is designed to reward and retain. The longer a member serves in the ADF, the longer they can receive the DHOAS subsidy and more entitlements they accrue. Again, there are eligibility conditions, but it is another great benefit of joining the military. 

Learn more about DHOAS.

Home Purchase or Sale Expenses Allowance (HPSEA). 

And then there’s HPSEA. This allowance reimburses some of the costs related to buying and selling a home. It’s based on a sell-buy-sell cycle linked to the ADF personnel’s posting. Costs that can be claimed include solicitor or broker fees, agent or auctioneer fees or commissions or government duties or fees. It helps ease some of the financial pressure from moving location to location. 

Learn more about HPSEA.

There are also other benefits with some states and territories waiving the occupancy requirements for some grants. This is due to the unique military lifestyle, where being posted to a new location with short notice is not uncommon

Military Life podcast.

For more information about DHOAS, grants and schemes, listen to Beck Rayner from the Military Life podcast who talks with Defence Bank's Head of Product - Lending, Kym Bowles, about the recent changes to DHOAS and other entitlements, schemes and home buyer grants available to the ADF.

Listen here.

*Eligibility and lending criteria apply.


Important note: This information is of a general nature and is not intended to be relied on by you as advice in any particular matter. You should contact us at Defence Bank to discuss how this information may apply to your circumstances.

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