As a first home buyer, you may be eligible for a number of state funding schemes to help get you into your own place sooner. As well as savings on stamp duty, you may also qualify for a one-off payment called the First Home Owner Grant.  

Am I eligible for the First Home Owner Grant (FHOG)?

Your eligibility for the FHOG will depend on what state or territory you want to buy in, how much you are going to spend, and if you own any property already.

Each state and territory has its own conditions but there are some common threads across the board. To be eligible for the First Home Owner Grant you must;

• Be aged 18 years or over
• Be a permanent resident or Australian citizen
• Plan to live in the property as your home for at least six months
• Have never previously owned your own home in Australia.   

However, if you — or a person you are entering into a joint home loan with — have previously claimed the FHOG, you may not be eligible for it again.  

What is a ‘new’ home?

In some states and territories, the FHOG can be beneficial when you buy or build a ‘new’ home — that is, a newly built property that hasn’t previously been lived in or sold as a home.

A home may be regarded as new if it has been substantially renovated. That means all or most of the building must have been renovated, fixed or replaced.  

Is the FHOG available if I’m buying an investment property?

The FHOG is only available when you buy a home to live in yourself. You will need to live in the property as an owner occupier for at least six months. The grant is designed to assist people who want somewhere to live, not people looking to invest in property.

First home buyer information by state or territory

Saving for your first home may not be easy, but there may be financial support on offer where you live. 

Australian Capital Territory

The First Home Owner Grant in ACT gives eligible people buying their first new or substantially renovated home — valued up to $750,000 — up to $7,000. 

There are also concessions available on stamp duty, which are tied to income thresholds and number of dependants.

Find the latest first home owner information on the Revenue ACT website.

New South Wales

The First Home Owner Grant (New Home) is worth $20,000 for first home buyers who: 

• buy or build their first new home, which no-one has lived in before
• purchase a new home worth up to $750,000.  

Under the NSW Government’s Affordability Package, first home buyers pay zero stamp duty for new or established first homes priced up to $650,000. There are other discounts on stamp duty for homes priced between $650,000 and $800,000.   

Find the latest first home owner information on the Revenue NSW website.

Northern Territory

The First Home Owner Grant in the NT is a $10,000 cash payment for eligible first home buyers of a new home. 

Stamp duty concessions of up to $18,601 may be available to eligible first home buyers of an established home.  

Find the latest first home owner information on the Northern Territory Government website.

Queensland

The First Home Owner Grant in Queensland is worth $15,000 when you buy or build a new home costing less than $750,000. 

Stamp duty discounts are available on both new and established homes. The maximum concession of $8,750 applies to homes valued up to $504,999, falling to $875 for a home costing $549,999. First home buyers planning to buy land now and build later pay no duty on vacant land costing $400,000 or less. 

Find the latest first home owner information on the Queensland Government website.

South Australia

The First Home Owner Grant in South Australia is valued at up to $15,000 for new homes for properties valued up to $575,000.   

Find the latest first home owner information on the Revenue SA website.

Tasmania

Tasmanian first home buyers can access a $20,000 First Home Owner Grant to 30 June 2020. This number will reduce to $10,000 after 1 July 2020. To be eligible, first home buyers must buy or build a new home. 

Find the latest first home owner information on Tasmania's State Revenue Office website.

Victoria

The First Home Owner Grant in Victoria is worth $10,000 when you buy or build a new home, rising to $20,000 for new homes valued up to $750,000. 

Stamp duty is waived for first home buyers on homes worth up to $600,000. Discounts on duty are available on a sliding scale on first homes costing between $600,001 and $750,000.   

Find the latest first home owner information on Victoria's State Revenue Office website.

Western Australia

The First Home Owner Grant in WA is worth $10,000 for the purchase or construction of a new home.

In addition, WA first home buyers are exempt from stamp duty when they buy a new or established home worth up to $430,000 or vacant land costing up to $300,000. A discount on duty applies to vacant land or a home costing up to $400,000 and $530,000 respectively.  

Find the latest first home owner information on the Western Australian Government website.

If you’re still unsure about your eligibility for the FHOG schemes in your state, you can contact your local Aussie Broker. They can help you better understand your situation and present you with the options available for you circumstance.

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