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Looking to buy or build your first home? You might be able to apply for the First Home Owner Grant, which helps Australians to get the funds they need to buy, or build their first home. It can be hard to save up enough money to do this on your own, so the government offers a one-off payment to help you achieve your dream.
We’ve compiled all the information you might need about the First Home Owner Grant, from what it is, to the eligibility criteria, what the differences are in each state, how much you could receive, when the scheme started and when the grant gets paid.
The First Home Owner Grant (FHOG) was introduced back in July 2000 for first-time homeowners. It’s a nationwide scheme, but is funded by the individual states and territories, with each state or territory having its own legislation for the scheme.
The purpose of the FHOG is to encourage people to save up and buy their first home. It is worth finding out if you are eligible to apply if you are a first-time buyer. We have listed the criteria below.
ACT - $0
NSW - $10,000
NT - $10,000
QLD - $15,000
SA - $15,000
TAS - $20,000
VIC - $10,000 or $20,000 for homes built in regional Victoria
WA - $10,000
Yes, you can use the First Home Owner Grant (FHOG) as part of your deposit but you will usually need to have existing savings as the FHOG alone is rarely enough to cover a deposit. If you don't have any existing savings you can ask a parent to act as a guarantor on your loan. Learn more about guarantor loans here.
The following criteria is generally the same across all Australian states and territories:
The applicant must be buying or building a new home, which includes off-the-plan homes or substantially renovated homes.
The application for the FHOG, including the form and supporting documents, must be submitted within 1 year of completing an eligible transaction.
Everyone with relevant interest (i.e. legal entitlement) in the home must be an applicant.
Every applicant must be at least 18 years old.
Applicants cannot be a company or trust.
At least 1 applicant must be an Australian citizen or permanent resident.
Applicants must not have previously received a FHOG in any Australian state or territory. However, if this grant has been repaid, applicants may be eligible.
Applicants must not have held relevant interest in a residential property in Australia before 1st July 2000.
Low on a deposit? Read our guide to no deposit home loans.
There are some variations in the eligibility criteria for each state or territory, in addition to the criteria listed above:
Since 1 July 2019, the ACT no longer offers First Home Owner Grants. Instead, the territory has extended the stamp duty exemptions and concessions it offers.
The contract date, when the contract to buy or build is signed, must be on or after 1st January 2016.
The value of a newly constructed or substantially renovated home should be less than $600,000
The combined value of the land for building and any dwelling intended to be built must be $750,000 or less.
Applicants must live in the home for at least 6 months.
Applicants must not have occupied and held relevant interest in the same property in Australia for at least 6 months after 1st July 2000.
Applicants must not have occupied and held relevant interest in the same property in Australia after 1st July 2000.
The transaction must be completed on or after 1st July 2016.
The value of the property must be $750,000 or less.
Applicants must live in the home for at least 6 months, starting within 1 year of the completion of the transaction.
Applicants must not have held relevant interest in a property in Australia after 1st July 2000.
Applicants must enter into a contract on or after 17 September 2010.
All applicants must live in the home for at least 6 months, starting within 1 year of the completion of the transaction.
Applicants must not have occupied and held relevant interest in the same property in Australia for at least 6 months after 1st July 2000.
Applicants must live in the home for at least 6 months, starting within 1 year of the completion of the transaction.
Applicants must not have occupied and held relevant interest in the same property in Australia after 1st July 2000.
The value of the property must be $750,000 or less.
At least 1 applicant must live on the property for at least 1 year, starting within 1 year of the completion of the transaction.
Applicants must not have occupied and held relevant interest in the same property in Australia for at least 6 months after 1st July 2000.
All applicants must live in the home for at least 6 months, starting within 1 year of the completion of the transaction.
Applicants must not have held relevant interest in a property in Australia after 1st July 2000 and occupied the same property for at least 6 months after 1st July 2004.
Most people apply for the FHOG whilst they are applying for their home loan. Chat to a Home Loan Specialist who will explain the steps in full.
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The FHOG was introduced on 1st January 2000 but has been amended since then. Whereas the grant used to apply to new or established homes, it now only applies to new homes.
The grant is no longer available in the ACT.
You can apply for the FHOG through an approved agent, which may be your financial institution, or through the state’s revenue office. Who you apply through may depend on whether you are building or buying, and this will also affect the timing of the payment.
Read more about the FHOG here.
Some key terms explained:
Contract to build: This is an agreement with a builder who is contracted to carry out the construction of your home from beginning to end.
Owner builder: If you own land and are planning to build on this land without a contract to build, you would be considered as an owner builder.
Terms contract: If you are buying under a terms contract, this can mean you are obliged to make two more payment instalments after signing the contract, but before settlement.
Unfortunately you cannot get the First Home Owners Grant (FHOG) when buying an investment property.
Australian states and territories typically require you to be an owner-occupier for a continuous period of at least 6 months (up to a year in some areas) in order to receive the First Home Owners Grant (FHOG). However, it’s a good idea to regularly check your state or territory’s legislation for changes in eligibility criteria.
For more information on the First Home Owners Grant (FHOG) visit: www.firsthome.gov.au