Whether you’re buying or building your first home, you might meet the eligibility criteria for the First Home Owner Grant. Here’s how much you could be eligible for.
The average loan size for first home buyers in Australia tops $336,5001 so any financial assistance with this purchase could really lend a helping hand. This is why it’s important to consider the First Home Owner Grant when you’re buying or building your first home. If you want to know more about the eligibility criteria for receiving the grant or how much the First Home Owner Grant is, we’ve gathered some key pointers about the scheme below.
What is the First Home Owner Grant (FHOG)?
The First Home Owner Grant (FHOG) is an Australian state and territory based scheme that aims to help first home buyers with the cost of purchasing a residential property. First home buyers who meet eligibility requirements will receive a one-off payment to assist with the costs associated with buying or building property. Eligibility criteria and the amount of the grant varies across states and territories.
How much is the first home owner grant and what are the eligibility requirements by state?
The amount of the first home owner grant varies across states and territories, with the maximum amount reaching $20,000 for some home buyers in Victoria and Tasmania. Some states also offer reductions or exemptions on stamp duty and other fees.
See below for the full breakdown by state or territory, as well as an overview of the eligibility criteria for each grant. It’s best to check directly with your state or territory revenue office for full requirements.
New South Wales
To be eligible for the grant, first home buyers who purchase or build a new home in NSW could receive $10,000 towards the purchase price, provided that:
- the home hasn’t been lived in previously;
- the new property doesn’t exceed $600,000 or if purchasing land, the combined land and contract price doesn’t exceed $750,000; and
- you occupy the property for at least six months, with your move-in date within 12 months of purchase.
Substantially renovated homes are also eligible for the grant2.
You could also be eligible for the First Home Buyers Assistance Scheme which provides a partial or full exemption from transfer duty on properties under a certain value3.
Read full eligibility criteria and apply for the NSW First Home Owner's Grant (New Homes) scheme.
First home owners in Queensland could be entitled to a $15,000 grant, provided that:
- you are buying or building a new home (or a significantly renovated one) worth less than $750,000; and
- you move in within the 12 months following the purchase and live there for six continuous months4.
First home buyers may also be eligible for concessions on transfer duty if the purchaser intends to occupy the property or to build an owner-occupied property on vacant land5.
Read full eligibility criteria and apply for the QLD First Home Owners’ Grant.
If you purchase a new or significantly renovated home in metropolitan Victoria valued up to $750,000, you could be eligible for a grant of $10,000 towards the purchase, or $20,000 towards an equally valued property in regional Victoria6. If you meet all eligibility criteria and are also purchasing a property under $750,000, you could also receive a duty exemption, concession or reduction as part of the First Home Buyer Duty Reduction7.
Read full eligibility criteria and apply for the VIC First Home Owner Grant.
The First Home Owner Grant in WA is worth $10,000 for the purchase or construction of a new home for properties worth $750,000 or less. A ‘new home’ may also include a substantially renovated house8. If you are eligible for the WA First Home Owner Grant, you could also be eligible for a reduction on transfer duty provided the value is under certain thresholds, namely $530,000 for a house and land, and $400,000 for land only9. Read full eligibility criteria and apply for the WA First Home Owner Grant.
If you’re purchasing a new home, an off-the-plan property, or building a new home as an owner-builder or through a registered builder, you could be eligible for a grant of up to $20,000. Some first home buyers of established homes may also be eligible for a 50 per cent reduction on transfer duty, provided the value of the property does not exceed $400,00010 . Substantially renovated homes may also be eligible under this scheme.
Read full eligibility criteria and apply for the TAS First Home Owner Grant.
Eligible first home buyers in South Australia could benefit from a $15,000 grant by purchasing a new residential house, flat, unit, townhouse or apartment anywhere across the state valued up to $575,000. Substantially renovated homes may also be eligible11 .
Read full eligibility criteria and apply for the SA First Home Owner Grant.
Provided the home you purchase in the Northern Territory is new or substantially renovated, you could be eligible for a $10,000 first home owner grant. You could also be eligible for the BuildBonus grant (a further $20,000)12. If the property you have purchased is intended to be your primary place of residence, you may be eligible for a reduction of up to $18,601 off stamp duty costs13 for property purchases valued up to $430,010.
Read full eligibility criteria and apply for the NT First Home Owner Grant.
Australian Capital Territory
In lieu of a first home owner grant payment, the ACT offers the Home Buyer Concession Scheme. Under this scheme, you may not be required to pay stamp duty on property purchases, provided you haven’t owned property in the past two years, the property is occupied by at least one buyer for a year beginning within 12 months of the purchase date,and the total combined income of the purchasers does not exceed the threshold amount14.
Read full eligibility criteria and apply for the ACT Home Buyer Concession Scheme.
Learn more about buying a home, including how much you can borrow and tips for buying your first home.
1 Housing finance, Australia, November 2018: Australian Bureau of Statistics
2 Grants and schemes, First home buyer: Revenue NSW
3 First Home Buyer Assistance Scheme - Revenue NSW
4 Applying for a first home owner grant - Queensland Government
5 Concessions for homes - Queensland Government
6 First Home Owner - State Revenue Office, Victoria
7 First home buyer duty exemption - State Revenue Office, Victoria
8 First home owner grant - Department of Finance, WA
9 Stamp duty concessions - Government of Western Australia, Department of Communities and Housing
10 Duty concession for first home buyers of established homes - State Revenue Office of Tasmania
11 First Home Owner Grant: Revenue SA
12 First home owner grant: nt.gov.au
13 Territory home owner grant discount - nt.gov.au
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