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First Home Owner Grant - Government to fund towards your new home! Isn't that great!

As a first home buyer, you may be eligible for various state funding schemes to assist you in getting your own home. You will not only save on stamp duty, but may also qualify for an one-off payment called the First Home Owner Grant.

Are you eligible for the First Home Owner Grant (FHOG)?

Your eligibility for the FHOG will depend on the state or territory you are buying your property, the amount you are going to spend to buy a new home and if you have ever owned a property in Australia.

Each state and territory has its own conditions but there are some common guidelines to be eligible for the First Home Owner Grant;

  • 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.

You may not be eligible for the First Home Owner Grant even if you are buying a joint property with a person who has previously claimed the FHOG.

What is considered as a ‘new’ home for the purpose of FHOG?

In some states and territories, the first home owner grant, FHOG is applicable when you buy or build a ‘new’ home, which means, a newly built property that hasn’t previously been lived in or sold as a home.

A home may also be regarded as new if it has been substantially renovated. It means that all or major portion of the building should have been renovated, fixed or replaced. However each state or territory has their own guidelines which need to be checked.

Is FHOG available if you are buying an investment property?

NO! The first home owner grant, FHOG is available only when you buy an owner occupied property. You are required to live in the property as an owner occupier for at least six months. The grant is aimed to help people who want their own property to live in and not for people who are buying a property for investment purpose.

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 Nfinity Financials Brokers. They can help you better understand your situation and present you with the options available for your circumstance.

Why is it a smart choice to contact our mortgage brokers

Your expert guide in home buying journey

It is not an easy task to buy your first home. In fact it sure is one of the biggest financial decisions one makes in a lifetime. There is too much to know as it will be a completely new learning curve and no doubt there will be a lot of anxiety.

Therefore it definitely helps to have someone by your side throughout the home buying journey, making sure you understand the process every step of the way.

More options for all client profiles

Type of employment can have a bearing on what loan option and which bank will be best suited for you. We get cases for a lot of self employed clients who say that it has been difficult for them to get the desired loan. Our brokers specialise in loan applications for all types of employment. Whether you are self employed or on a casual or part time employment or having irregular incomes, our brokers have in-depth knowledge of the bank policies and can suggest a loan solution as per your unique situation.

Access to a wide range of loan products

Our brokers work for your benefit. They are not working for a particular bank, or vendor or any real estate agent. They have just your best interest in mind and therefore can compare a wide range of loan products.

Personalised attention

With Nfinity Financials you will get a personalised attention to your requirements, which you may not find with big corporate style financial institutions or banks. Our clients are our first priority.



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