The First Home Buyers Grant is an Australian Government initiative designed to support eligible first home buyers purchase a home sooner. Introduced on 1 July 2000, it is a national scheme funded by the states and territories and administered under their own legislation.
The First Home Owner Grant varies depending on which state you intend to purchase a home in. Below is an outline of what grants are available in Qld, NSW & Victoria.
QUEENSLAND (https://www.qro.qld.gov.au/property-concessions-grants)
The first home owner grant gives eligible first-time home buyers $15,000 or $30,000 towards buying or building a new home in Queensland.
- $30,000 for contracts signed between 20 November 2023 and 30 June 2025 (both dates inclusive)
- $15,000 for contracts signed before 20 November 2023.
NEW SOUTH WALES (https://www.revenue.nsw.gov.au/grants-schemes)
A $10,000 First Home Owner Grant (FHOG) is available when you buy or build your first new home. Your first new home can be a house, townhouse, apartment, unit or similar that is newly built, purchased off the plan or substantially renovated.
If you purchase a newly built house, townhouse, apartment, unit or similar the purchase price must not exceed $600,000.
If you purchase vacant land and sign a building contract with a builder then we add the value of the vacant land plus the value of the comprehensive home building contract plus the cost of any building variations done together. The total combined cost must not exceed $750,000.
VICTORIA
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) of $10,000. To be eligible, the home must not have been previously sold or occupied.
You’re not eligible for the FHOG if you or your spouse or partner have already:
- received the FHOG in Australia
- owned a home or other residential property in Australia, either jointly or separately, prior to 1 July 2000, or
- lived in a home in Australia which either of you owned or part-owned on or after 1 July 2000 for a continuous period of at least six months.
These criteria apply even if your spouse or partner is not an applicant with you for the FHOG.
