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My first home

First Home Owners Grant

The First Home Owners Grant (FHOG) is a government initiative to help first homebuyers into the property market. It’s a genuine, one off grant that never has to be repaid. Each state manages their own First Homeowners Grant; however there are a number of criteria that you must meet Australia-wide to be eligible.

 

You may qualify for the First Home Owners Grant if you:

  • Are 18 years or over.
  • Are an Australian citizen or permanent resident.
  • Are intending to live in the home for a continuous period of at least six months within 12 months of settlement.
  • Have never owned a residential property in any state or territory in Australia.
  • Have never received a First Home Buyers Grant from any State or Territory of Australia.

 

As a first homeowner, you may also be eligible for other concessions such as stamp duty. Your Resolve Finance broker will help you establish whether you’re entitled to the First Home Owners Grant and other concessions. From helping you with the application process, through to settlement and beyond, our finance brokers in Perth and Melbourne will guide you through every step of your journey.

To find out if you are eligible for the First Home Owners Grant, simply complete the form below.

For further information on the First Homeowners Grant in your state, including the amount you may be entitled to please see below for more details.

Western Australia

As of October 3, 2015 no First Home Owner Grant will apply on purchases of established homes in Western Australia.

A First Home Owner Grant of $10,000 may be available for first homebuyers who are building or purchasing a new home in Western Australia, to the value of $750,000. This includes off-the-plan homes, or newly built homes that have not been previously occupied.

Stamp duty for first home buyers is also waived (for homes of up to $530,000 in value or $400,000 for vacant land) in Western Australia.

Victoria

A First Home Owner Grant of $10,000 may be available for first homebuyers who are building or purchasing a new home in Victoria, to the value of $750,000. This includes off-the-plan homes, or newly built homes that have not been previously occupied. As per the State Government website, those in regional Victoria will be eligible for an $20,000 First Home Owner Grant for new homes up to the value of $750,000. This applies to contracts signed from July 1st, 2017 to 30 June 2020.

Stamp duty concessions are available for first home buyers in Victoria – the reduced amount will depend on the purchase price and applies to homes up to $600,000 in value.

Queensland

The Great Start Grant of $15,000, which replaces the First Home Owners Grant, may be available for first homebuyers who are building or purchasing a new home in Queensland, to the value of $750,000. This includes off-the-plan homes, or newly built homes that have not been previously occupied.

First home buyers in Queensland may also be eligible for concessions on transfer duty. These concessions are based on the purchase price of the property up to the value of $550,000.

New South Wales

As of January 1 2016, a grant of $10,000 may be available for first homebuyers who are building or purchasing a new home in New South Wales, to the value of $750,000. This includes off-the-plan homes, or newly built homes that have not been previously occupied.

First home buyers in New South Wales may also be eligible for exemptions from transfer duty on new homes valued up to $550,000, and concessions for new homes valued between $550,000 and $650,000. An eligible purchaser buying a vacant block of residential land to build their home will pay no duty on vacant land valued up to $350,000, and will receive concessions for vacant land valued between $350,000 and $450,000.

South Australia

A First Home Owner Grant of $15,000 may be available for first homebuyers who are building or purchasing a new home in South Australia, to the value of $575,000. This includes off-the-plan homes, or newly built homes that have not been previously occupied.

Northern Territory

As of January 1 2015, a grant of $26,000 may be available for first homebuyers who are building or purchasing a new home in the Northern Territory. This includes off-the-plan homes, or newly built homes that have not been previously occupied, and there is no limit to the purchase price of the home.

ACT

A First Home Owner Grant of $10,000 may be available for first homebuyers who are building or purchasing a new home in ACT to the value of $750,000. This includes off-the-plan homes, or newly built homes that have not been previously occupied.

Note: If purchasing a home with another person, both of you must meet the eligibility criteria

 

For more information about how you can get started on your first home buyers journey or whether you qualify for a First Home Owners Grant, get in touch with Resolve Finance. Call us on 1300 883 292 or send us an enquiry to speak to our team of finance experts in Perth and Melbourne today.