A helping hand for first home buyers

If you are buying or building your first home you may be eligible for a First Home Owner Grant (FHOG) of $7,000.

This grant is a Commonwealth initiative administered and funded by the states designed to help first home buyers with the cost of buying or building a home in Australia. The grant isn’t means tested against income, however there are caps placed on the value of the home, which affects eligibility and all applicants must be first home buyers.

For details on the initiative, cap amounts and eligibility requirements, visit the First Home Owner Grant site.

Concessions in your state

It is worth checking your State Government’s website to determine the extent of the initiatives offered by that state (as some states offer additional grants, and/or waive or offer concessions on transfer duty or mortgage duty).

The maximum price amounts (i.e. cap) and eligibility requirements also vary in each state and you should check the position of your applicable state or territory government.

For up to date information on your state or territory offers visit the First Home Owner Grant site.