Are you eligible for the First Home Owners Grant?
You are eligible for the Australian Government’s First Home Owner Grant if you:
- Are an Australian citizen or permanent resident
- Are buying or building your first home in Australia
- Have the intention of occupying the property as your principal place of residence within 12 months of the settlement and living in it continuously for at least 6 months
Find out if you qualify for First Home Owner's Grant today.
Other things to consider:
If you are buying the property in conjunction with others, they must also meet the same criteria for the First Home Owners Grant to be applicable.
If you’re eligible you can receive the Grant regardless of your income and the area in which you are planning to buy or build. The Grant is not means tested and no tax is payable on it.
However, there is a cap on the maximum property price a first home buyer can pay and still be eligible for the grant. The cap is as follows:
- Australian Capital Territory: $750,000
- New South Wales: $835,000
- Northern Territory: $750,000
- Queensland: $750,000
- South Australia: $575,000
- Victoria: $750,000
- Western Australia: $750,000 or $1,000,000 for property north of the 26th parallel
- Tasmania: No limit
Aside from the one-off First Home Owner Grant of $7000 that is available to first home owners who meet all eligibility criteria, there are also additional grants that some state governments are providing to first time buyers in each different state.
For more information on the details, visit First Home Owners Scheme.
Alternatively, visit each of these references for more details:
- Nothern Territory: Territory Revenue Office
- New South Wales: NSW Office of State Revenue
- South Australia: RevenueSA
- Tasmania: First Home Owners Grant Tasmania
- Victoria: The State Revenue Office (SRO)
- Western Australia: First Home Owners Grant Western Australia
- Queensland: Office of State Revenue
It’s a great leg up to help you get into your first home, and your Arafura Finance Broker can help submit your First Home Owners Grant application today.
Still wondering what its all about?
The FAQs below may help answer your key questions. And don't forget, your Arafura Finance Broker can help you with your application and further information.
What is the First Home Owner Grant (FHOG)?
The FHOG scheme is a national scheme funded by the Federal Government, but administered through each state or territory Revenue Office. The grant offers first home buyers $7,000 towards their first home.
Who is eligible for the grant?
To be eligible for the grant, you must be an Australian citizen or a permanent resident of Australia. You must be buying or building your first home in Australia and you must have the intention of living in the home as your primary residence within 12 months of settlement. There are no restriction as to your income or the area in which you plan to buy or build. Nor are there restrictions regarding the value of the property. However, if you are planning to purchase your first home with another person, you must both meet the eligibility requirements to receive the grant.
There are other factors that may also be relevant, so be sure to speak with an Arafura Finance Broker.
How do I apply for the grant?
In most cases the lenders are able to act as agents for the Revenue Office and your Arafura Finance Broker can help you complete the relevant forms as part of the home loan application.
This allows the First Home Owner Grant funds to be available at settlement or at the first progress payment if you are building your home.
If you apply directly to the Revenue Office funds will not be available until after settlement or completion of the home if you are building.
Are there other First Home Owner grants or concessions available?
In addition to the grant available from the Federal Government there are a number of state initiatives aimed at making your first home more affordable. To find out what concessions are available in your state or territory contact your Arafura Finance Broker.
Find out if you qualify for the First Home Owner's Grant today.