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Buying Your First Home?

Are you a first-time home buyer in Australia looking to take the first step on the property ladder? Well, look no further because the government of Australia has got your back! The First Home Buyers Grant is an initiative designed to help first-time home buyers get into the property market by providing a grant of up to $15,000, depening on your state to help with the purchase of a new home.

This grant is available for purchases of new or newly built homes, including apartments, townhouses and houses, and is intended to help reduce the cost of buying a first home. This means that with the grant, you'll have more money to put towards a deposit, or to cover other costs associated with buying a home.

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First Home Owners Grant TAS

How much can you get? $30,000

What can you get it for?

  • New homes or off-the-plan properties only
     

Other exemptions or concessions: Fifty per cent discount on property transfer duty for first home buyers of established homes that have a dutiable value of $500,000 or less.
 

For more information, visit: 
Tasmania Government – Department of Treasury and Finance

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First Home Owners Grant NT

How much can you get? $10,000
 

What can you get it for?

  • New homes only
     

Other exemptions or concessions: There are a range of government grants, concessions and rebates available for first home buyers and other Northern Territory home buyers.
 

For more information, visit: 
Northern Territory Government

Opera House

First Home Owners Grant NSW

How much can you get? $10,000

What can you get it for? 

  • A new home valued up to $600,000

  • A new home valued up to $750,000 if you enter a contract to build or are an owner-builder
     

Other exemptions or concessions: From 16 January 2023, Eligible first home buyers who sign a contract of purchase for up to $1.5 million will be able to choose between:
 

(a) paying the usual amount of stamp duty based on the ‘dutiable value’ of your property. First home buyers in NSW are exempt from paying transfer duty on new and existing homes valued at less than $650,000 or a block of land valued at or less than $350,000. Transfer duty concessions apply to first home buyers if the value of your:

  • New or existing home is valued between $650,000 and $800,000, or

  • Vacant block of land is valued between $350,000 - $400,000;
     

or

(b) paying an annual property tax based on the unimproved land value of the property. The property tax will only be payable by first home buyers purchasing a property for up to $1.5 million. The annual property tax payment will be indexed each year so that the average property tax payment rises in line with average incomes.

Property tax rates can be found here: 
First Home Buyer Choice | NSW Government

 

For more information, visit: 
Office of State Revenue New South Wales

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Home Buyer Concession Scheme ACT

The ACT First Home Owner Grant has been replaced by the Home Buyer Concession Scheme, which provides a full stamp duty concession for eligible applicants.
 

For more information, visit: ACT Revenue Office

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