First Home Owners Guide

Australian Government’s HomeBuilder Grant

The Australian Government’s time limited HomeBuilder program provides eligible owner-occupiers (including first home buyers) with a grant to build a new home, substantially renovate an existing home or buy an off-the-plan home/new home. For more information about the HomeBuilder Grant, read our detailed HomeBuilder Grant guidelines.

First home owner essential facts

Before you buy your first home, here are some essential facts you need to know.

You can receive up to $20,000 with the FHOG

If you are buying or building a new home valued up to $750,000, you may be eligible for a First Home Owner Grant (FHOG). If you are eligible for the FHOG and the home you are buying is in regional Victoria, you will receive $20,000. If the home is not in regional Victoria, the grant is $10,000. The home must be less than five years old to be eligible for the FHOG.

Buying your first home is a major financial decision so it’s important to understand your financial responsibilities and what help is available to you.

You pay stamp duty on your purchase

When you buy your home, you will most likely pay land transfer duty (otherwise known as stamp duty). How much you pay depends on your property’s value, what you’re using it for, if you are a foreign purchaser, and whether you are eligible for any exemptions or concessions.

Stamp duty waiver up to 50% for residential property

You may be eligible for a land transfer (stamp) duty waiver for residential property with a dutiable value of $1 million or less, whether or not you use it as your principal place of residence.