First Home Owners Grant

Rates and Fees verified correct on December 6th, 2016

Learn the ins and outs of the First Home Owners Grant to see if it applies to you

First home owner grantsThe First Home Owner Grant (FHOG) scheme was introduced by the Australian government on July 1, 2000 to offset the affect of GST on home ownership and to make it easier for young Australians to enter the property market. This national scheme is administered under the laws of each state.

Under this scheme, a one-off grant is typically offered to first home owners that fulfill the eligibility criteria as outlined by the governing state.

Making the decision to purchase a property is important so as a responsible and diligent first home buyer, you should have carefully reviewed your budget, compared different home loans and researched the property market.

Find out which grants and concessions may be available to you so you can pursue your dream of home ownership sooner.

The Boomer Supremacy

Richard Cooke’s The Boomer Supremacy explores how Gen Y's have been locked out of the property market. Read a summary of the article here.

Grants and Concessions Available for Each State

Below you’ll find the grants and stamp duty concessions available in each state. Remember there are a host of eligibility requirements for the grant and duty concessions which can vary from state to state, so be sure to visit your state’s office of revenue website and find out if you’re eligible.

ACT

Is there a first home buyers grant?

Yes, there is a grant of $10,000 to help fund the purchase of a new or substantially renovated home. Properties of $750,000 or less are eligible.

Are stamp duty concessions available?

Yes, stamp duty concessions are available on new or substantially renovated properties valued at less than $562,000.

Purchase valueConcessional duty payable
$455,000 or less$20 (minimum duty)
$455,001 to $585,000$13.60 for each $100 or part thereof by which the dutiable value exceeds $455,000
$585,000 or moreNo concession
Vacant land $272,200 or less$20 (minimum duty)
Vacant land $262,201 to $317,600$13.55 for each $100 or part thereof by which the dutiable value exceeds $262,200
$317,600 or moreNo concession

NSW

Is there a first home buyers grant?

Yes, the First Home Owner Grant (New Homes) scheme offers a $10,000 grant for the purchase of new and substantially renovated homes. The value of the property must not exceed $750,000.

Are stamp duty concessions available?

Yes, the First Home - New Home scheme provides first home buyers with exemptions from transfer duty on new homes valued up to $550,000 and concessions for new homes valued between $550,000 and $650,000. No duty is payable by eligible purchasers buying a vacant block of residential land valued at up to $350,000, while concessions are available for vacant land purchased for between $350,000 and $450,000.

Purchase PriceFirst Home - New Home Duty
$550,000$0
$575,000$6,185
$600,000$12,370
$625,000$18,555
$650,000No discount

VIC

Is there a first home buyers grant?

Yes, the $10,000 First Home Owner Grant is available to eligible applicants buying or building a new home valued at up to $750,000.

Are duty concessions available?

Yes, if you are buying your first home and it is valued at less than $600,000, you may be eligible for a duty reduction of up to 50%. This concession applies to new and established homes.

QLD

Is there a first home buyers grant?

Yes, the Queensland First Home Owners' Grant offers $15,000 to first-time owners buying or building a new home. The grant is available for properties valued at less than $750,000. For contracts entered into on or after 1 July 2016, this amount will increase to $20,000.

Are transfer duty concessions available?

Yes, stamp duty concessions are available if you buy a home valued less than $550,000 or vacant land less than $400,000. The more you pay for your home or land within these limits, the smaller the concession available.

Purchase priceConcession (to be deducted from duty rate)
Up to $504,999.99$8,750
$505,000 to $549,999.99Concessions of between $7,875 and $875
$550,000+No concession
Vacant land $250,000 or less100% of transfer duty
Vacant land $250,001 to $399,999.99Concession of between $7,175 and $525

WA

Is there a first home buyers grant?

Yes, the FHOG of $10,000 is available if you are buying or building a new home. Eligible properties located south of the 26th parallel of south latitude are limited to $750,000, while properties north of the 26th parallel of south latitude are limited to $1 million.

Are stamp duty concessions available?

Yes, the First Home Owner Rate of Duty provides exemptions and concessions when purchasing homes valued at less than $530,000 and vacant land less than $400,000.

Purchase PriceGrant/Concession
Less than $430,000Exempt from stamp duty
$430,000 to $530,000Duty payable at a rate of $19.19 for every $100, or part of $100, by which the value exceeds $430,000
$530,001 or moreNo concession or exemption
Vacant land less than $300,000Exempt from stamp duty
Vacant land $300,000 to $400,000Duty payable at a rate of $13.01 for every $100, or part of $100, by which the value exceeds $300,000
Vacant land $400,000 or moreNo concession or exemption

SA

Is there a first home buyers grant?

Yes, the FHOG of up to $15,000 is available for the purchase and construction of new homes.

Are stamp duty concessions available?

No, there are no concessions or exemptions from stamp duty for first home buyers in South Australia.

TAS

Is there a first home buyers grant?

Yes, the $20,000 FHOG is available for buying a new home, buying a home off the plan or building a new home. The payment will revert to $10,000 for transactions entered into from 1 July 2017.

Are property transfer duty concessions available?

No, there are no concessions or exemptions from stamp duty for first home buyers in Tasmania.

NT

Is there a first home buyers grant?

Yes, the $26,000 FHOG is available to eligible applicants who purchase or construct a new home, and may also be available for the purchase of established homes. No limit applies to the value of the property you buy or build. Established homes are limited to a value of $600,000.

Are stamp duty concessions available?

Yes, the First Home Owner Discount (FHOD) is available to who enter into a contract to purchase an established home between 24 May 2016 and 30 June 2017. The discount is a 50% reduction otherwise payable on the conveyance up to a maximum discount of $10,000.

Am I eligible for the First Home Owners Grant?

The eligibility criteria for first home buyers differs slightly between the states and territories but generally, eligibility criteria includes:

  • You must be a first home buyer as a person’, not as a company or trust.
  • At least one applicant must be a permanent resident or Australian citizen.
  • Each applicant must be at least 18 years old.
  • You or your spouse, partner or co-purchaser must not have previously owned an interest in land in Australia which had a residence on it, before 1 July 2000.
  • You or your spouse or partner cannot have lived in a residential property which you owned from 1 July 2000.
  • You or your spouse, partner or co-purchaser may not have claimed the grant previously.
  • You must occupy your first home as your principal place of residence within 12 months of the construction or purchase of your home and the minimum period of occupancy is six continuous months.

There are other state specific conditions as well, which will depend on the state you’re buying in.

All your questions about the first home owners grant answered

To help you to understand the First Home Owners Grant we have compiled a list of answers to some of the most frequently asked questions.

How do I know if I am eligible for the First Home Owner Grant?

As a general rule, you are eligible if you are an Australian citizen or permanent resident, buying or building your first home in Australia, and will occupy the property as your principal place of residence within 12 months of the settlement and live in it continuously for at least six months.

What happens if I move out of my home in the first 12 months?

If you have lived in your home for a continuous period of six months, you may keep the grant, but if you move out before this time, you will be required to repay the grant.

Can I apply for the first home owner grant if I'm a temporary resident?

Unfortunately first home owner benefits aren't available for temporary residents. They also can't be retroactively applied for once permanent residency is obtained, as you must be eligible at the time of signing the contract.

I am buying the property jointly with a friend. Do we both have to be eligible?

If you are buying the property in conjunction with another person, you must both meet the First Home Owners Grant criteria for the grant to be applicable.

My partner and I are buying the property jointly and neither of us has owned a property before. Do we each get a grant?

No. A single grant is payable per property transaction not per person.

Does my income affect the grant?

No, the grant is not means tested.

Do I have to pay income tax on the grant?

No, the grant is tax free.

What sort of home qualifies me for the grant?

An eligible home will be located in Australia and will be a new or established house, home unit, flat or other type of self contained fixed dwelling that meets local planning standards. The exact specifications will depend on your state.

Will I be eligible for the First Home Owner if I buy an on-site home in a caravan park?

You would qualify for the grant provided the home is fixed (ie not moveable), but you would not be eligible if you bought a moveable home such as an unfixed mobile home or a caravan.

I am buying an existing home. Does that qualify me for the grant or does it have to be a new home?

This depends on the state, with many now limiting the grant to purchasers of new or substantially renovated homes.

Is there a price limit on the property to qualify for the grant?

In some Australian states and territories there is a cap on the property value. Look at the table further above this page for more information regarding what the cap is for your state.

I thought the First Home Owners Grant was a federal scheme. Why does the grant apply differently in different states?

The First Home Owners Grant scheme is a federal scheme but it is funded and administered by the individual states and territories of Australia, and there are some local differences in eligibility requirements.

I'm buying a home in Australia but I already own property outside Australia, does that mean I don't qualify for the grant?

You can be eligible for the grant provided you have not owned property in Australia before.

I inherited a property. Can I claim the First Home Owner Grant for that?

No. You must be a buyer or builder of the property. If you received it as a gift or inheritance you are not eligible for the grant.

Where to from here?

Yes, buying your first home is hard, and yes, saving for your first home deposit is a monumental task.

But while life can be a hard and expensive journey, you can make it easier and more affordable if you hold all the information. Find out more about buying your first home using our first home buyers guide.

It's also useful to compare what home loan rates are to get an idea of what monthly repayments you'll be paying.

Use the table and calculator below to do this.

First Home Buyer Home Loans Comparison

Rates last updated December 6th, 2016
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
HSBC Home Value Loan - Resident Owner Occupier only
Enjoy the low variable rate with $0 ongoing fee and borrow up to 90% LVR.
3.55% 3.57% $0 $0 p.a. 90% Go to site More info
3.74% 3.74% $0 $0 p.a. 80% Go to site More info
loans.com.au Essentials - New Purchases Only Up to 80% LVR (Owner Occupier, P&I)
Low variable rate for new purchases as well as no application or ongoing fees. Special offer ends 15 December.
3.39% 3.41% $0 $0 p.a. 80% Go to site More info
State Custodians Standard Variable Spring Special - LVR 80% (Owner Occupier)
Special Owner Occupier Rate. Free Offset Account.
3.59% 3.92% $0 $299 p.a. 80% Go to site More info
ClickLoans The Online Home Loan - Owner Occupier ≤ 80% LVR
Enjoy a competitive interest rate when you have a deposit of at least 20%.
3.69% 3.69% $0 $0 p.a. 80% Go to site More info
ANZ Breakfree Package Home Loan - 2 Year Fixed (Owner Occupier) $150k+
This 2 year fixed ANZ Breakfree Package rate comes with package discount and product bundle. Terms and conditions, package fee and fees, charges & eligibility criteria apply.
3.75% 4.62% $0 $395 p.a. 95% Go to site More info
Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer ($150,000+ Owner Occupier)
Apply for a new owner occupier loan or refinance from another lender and receive this discounted rate.
3.74% 4.12% $0 $395 p.a. 95% Go to site More info
CUA Kick Start Variable Home Loan - 2 Years Introductory (Owner Occupier)
Borrow up to 90% LVR and enjoy an introductory rate for the first 2 years.
3.69% 3.87% $600 $0 p.a. 90% Go to site More info
Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed ($150K+ Owner Occupier)
Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.
3.59% 4.42% $0 $375 p.a. 85% Go to site More info
loans.com.au Offset Variable - New Purchases Only Up to 80% LVR (Owner Occupier, P&I)
No application or annual fees, and access to a 100% offset account. Special offer ends 15 December.
3.49% 3.51% $0 $0 p.a. 80% Go to site More info
ME Bank Flexible Home Loan Fixed - 3 Year Fixed Rate (Owner Occupier)
A competitive 3 year fixed rate with a redraw facility and split loan options, plus no application fee.
3.84% 4.66% $0 $0 p.a. 95% Go to site More info
State Custodians Standard Variable Spring Special - LVR 90% (Owner Occupier)
Special Owner Occupier Rate. Free Offset Account.
3.69% 4.02% $0 $299 p.a. 90% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Years Fixed (Owner Occupier)
Enjoy a low interest rate and borrow up to 95% (with LMI) of your home value.
3.99% 4.81% $0 $0 p.a. 95% Go to site More info
Bankwest Complete Home Loan Package Fixed - 5 Year Fixed Rate LVR <90% (Owner Occupier)
Get the security of knowing your repayments with this 5 year fixed rate package home loan.
3.98% 4.35% $0 $395 p.a. 90% Go to site More info
NAB Base Variable Rate Home Loan - Owner Occupier (P&I)
A competitive no frills home loan with no application fees for a limited time. 250,000 Velocity Frequent Flyer point offer, conditions apply.
4.10% 4.14% $0 $0 p.a. 95% Go to site More info
AMP Essential Home Loan  -  Owner Occupier
Take advantage of a redraw facility, competitive variable rate and no application or settlement fees for a limited time.
3.98% 4.00% $350 $0 p.a. 90% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 1 Year Fixed (Owner Occupier)
Get a short term fixed rate for that investment property with no application or ongoing fees.
3.99% 4.90% $0 $0 p.a. 95% Go to site More info
IMB Budget Home Loan - LVR <=90% (Owner Occupier)
A competitive budget rate without any unwanted bells and whistles.
3.87% 3.92% $445 $0 p.a. 90% Go to site More info
Bank Australia Basic Home Loan - Variable (Owner Occupier)
A competitive variable that allows borrowers to borrow from a minimum of $100,000 and $0 ongoing fee.
3.59% 3.60% $0 $0 p.a. 80% Go to site More info
Australian Unity Health, Wealth and Happiness Package - (Owner Occupier)
Get a 0.60% discount on your rate, a 100% offset account and no ongoing fees.
3.99% 4.02% $600 $0 p.a. 90% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 3 Years Fixed (Owner Occupier)
Split your loan for free with one of the lowest fixed home loan rates.
3.99% 4.73% $0 $0 p.a. 95% Go to site More info
IMB Essential Home Loan - LVR < 80% (Owner Occupier)
Get a discount on your rate and flexible repayment options with this loan.
4.09% 4.09% $0 $0 p.a. 80% Go to site More info
NAB Choice Package Variable Rate - $250k to $749,999 P&I (Owner Occupier)
A great variable package from NAB which includes offset and redraw features. No application fee.
4.40% 4.79% $0 $395 p.a. 95% Go to site More info
NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier)
A fixed rate package loan with flexible repayments options. 250,000 Velocity Frequent Flyer point offer, conditions apply.
3.75% 4.87% $0 $395 p.a. 95% Go to site More info
St.George Basic Home Loan - Promotional Rate (Owner Occupier, P&I)
A no frills loan with a competitive rate and a maximum LVR of 95%.
4.08% 4.09% $0 $0 p.a. 95% More info
Westpac Flexi First Option Home Loan - 3 Years Introductory Special Offer (New Owner Occupier, P&I)
A limited time deal for new owner occupiers. Advertised rate includes 1.03%p.a. discount for the first two years.
3.99% 4.37% $0 $0 p.a. 95% More info

Abolition of the First Home Saver Accounts (FHSA) Scheme

Saving money for any goal can require dedication, control and perseverance which many of us can find lacking in ourselves especially when the goal is as large as a home loan deposit. That is why the Australian Government introduced the First Home Saver Account in 2008, to make it easier for young Australians to build their home deposit by locking away funds until they're ready to purchase, and even offering government contribution incentives.

However, the Australian government abolished the FHSA scheme on July 1, 2015. This means that all first home saver accounts are now treated like an ordinary held with a provider, and;

  • Restrictions on withdrawals were removed on July 1, 2015. Account holders could withdraw and use the balance of their account as they see fit from this date onwards.
  • No government FHSA contributions were paid for the 2014-2015 financial year.
  • If you were entitled to FHSA contributions for a previous period, the government continued to pay these. If this applies to you, then you need to ensure that you claim any outstanding government FHSA contributions on or before June 30, 2017.
  • Tax and social security concessions ceased from July 1, 2015.

From July 1, 2015:

  • You can use the funds in your account for any purpose.
  • Tax concessions cease.
  • Your account is included in any income and asset tests that apply to government benefits.
  • You must report interest from your account when you complete your tax return (starting with interest earned in the 2015-2016 income year).
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This page was last modified on 27 July 2016 at 20:45.

HSBC Home Value Loan - Resident Owner Occupier only

Enjoy the low variable rate with $0 ongoing fee and borrow up to 90% LVR.

ME Bank Basic Home Loan - LVR <=80% Owner Occupier

A low variable rate loan with no application or ongoing fees.

NAB Choice Package Home Loan - 3 Year Fixed (Owner Occupier)

Receive discounts on interest rates with the Choice Package. 250,000 Velocity Frequent Flyer point offer, conditions apply.

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50 Responses to First Home Owners Grant

  1. Default Gravatar
    Craig | June 24, 2016

    Morning
    I owned a property in WA nearly 25 yrs ago for approx 12 months which I had to subsequently sell as the interest rates went to over 21% – I did not receieve any government assistance to purchase it. I have rented since. Am I eligible for any “packages” to help me get back into the housing market
    Thanks for your help
    Cheers

    • Staff
      Marc | June 24, 2016

      Hi Craig,
      thanks for the question.

      There are eligibility requirements on this page which you might wish to read to find out if you could receive the first home owner grant. One of the conditions is that “You or your spouse, partner or co-purchaser must not have previously owned an interest in land in Australia which had a residence on it, before 1 July 2000.” and “You or your spouse or partner cannot have lived in a residential property which you owned from 1 July 2000.”.

      For more information about what you might be eligible for, you might wish to contact the WA Department of Finance.

      I hope this helps,
      Marc.

  2. Default Gravatar
    Bella | March 31, 2016

    I’m looking to purchase my first home in QLD (I’ve never owned any property prior), however my de facto spouse already owns a property and has received his grant.

    I’m not looking to purchase with him, but on my own as an individual. Am I right in saying I am not eligible becuse he already has received a grant even though he won’t be an applicant on this property?

    The QLD website seems to apply that if my spouse has received a grant I am no longer eligible even though this property will have nothing to do with him.

    • Staff
      Belinda | April 1, 2016

      Hi Bella,

      Thanks for reaching out.

      Please note that the first home owners grant (FHOG) is governed by each state and territory so the eligibility rules may differ slightly, so it would be best to check with the QLD government department. Unfortunately, I believe you are correct in saying that you may not be eligible for the FHOG if your partner has already received the grant and if your partner already owns a property (even if you are not purchasing with them).

      Generally, you and your spouse, partner or co-purchaser can not have previously owned land in Australia (before July 2000), you or your spouse or partner cannot have lived in a residential property which you owned from 1 July 2000, and you or your spouse or partner cannot have claimed the FHOG previously.

      Thanks,
      Belinda

  3. Default Gravatar
    Soni | March 16, 2016

    Hi,

    I am planning to buy an off the plan property in sydney. But it is a resell from another owner and not from the builder. He hasn’t applied for the FHOG and the property hasn’t started constructing yet. I want to know if I can still get the FHOG and stamp duty concessions in this case?

    • Staff
      Belinda | March 17, 2016

      Hi Soni,

      Thanks for reaching out.

      As you’ll see above on this page, the terms of the FHOG differ depending on the state in which the property is located. In NSW, you may be eligible to receive the $10,000 grant under the First Home Owner Grant (New Homes) for the purchase of a new or substantially renovated home. As the property is off-the-plan and you mentioned that it has not yet been constructed, I believe that you may be eligible to receive the grant and duty concessions given that you satisfy all other criteria.

      If you have further questions, please get in touch with the NSW state government department to discuss your personal situation.

      Thanks,
      Belinda

  4. Default Gravatar
    Samma | March 7, 2016

    I have purchased a property off the plan which we assumed would settle last April (2015) therefore the bank applied for the FHOG in April 2015 and I was sent a letter advising I was approved for the FHOG.

    Unfortunately, settlement did not occur on the anticipated dates. In the last three days we have now been advised that settlement will be occurring in 2 weeks’ time – however FHOG has not been reapplied for as yet.

    My question is: can I still settle without the FHOG and wait for it to come through after settlement. Will I still be eligible for stamp duty concessions at settlement without the FHOG?

    • Staff
      Belinda | March 7, 2016

      Hi Samma,

      Thanks for getting in touch.

      As the FHOG is governed by each state and territory in Australia, the rules will depend on the state in which the property is located. Generally, the payment of the grant for an off-the-plan purchase takes place either at or after settlement.

      Given that you meet all other eligibility criteria for the FHOG, you may also entitled to duty concessions even if your circumstances prevent you from actually receiving the FHOG. As you were previously approved for the FHOG in your state, I believe you should also receive the duty concessions before settlement.

      However, please get in touch with your relevant state government department to confirm your eligibility for the stamp duty concessions.

      Thanks,
      Belinda

  5. Default Gravatar
    question | November 30, 2015

    I have a 50 percent share and a mortage in a property that i inherited. Do i still qualify for first home buyers grant or even a stamp duty discount as i have never actully gone out and bought a house it was left to me.

    • Staff
      Jodie | November 30, 2015

      Hi there,

      Thank you for reaching out to finder.com.au a financial comparison website and general information service.

      The eligibility for any of the first home owners grants or concessions differ from state-to-state however, in general, you are ineligible if you have ever held ownership, full or partial, of any residential property in Australia, there are no exemptions that I can find for inherited property. It would be best to confirm this with the relevant state agency in your local area or with a mortgage broker who would be more versed in the rules of these grants and concessions in your state.

      Regards
      Jodie

  6. Default Gravatar
    SingleWomanTryingToDoItOnMyOwn | November 26, 2015

    Hi,

    So just double checking I have perceived this correctly.
    Am I correct in thinking that if I wish to purchase a moderate but nice home for myself and my future but want to make sure I am only lending within my means.

    Which means that realistically If I only borrow what I should I can only afford to purchase an established home not a new home but in saying that I can afford something that is not old and something reasonably new and definitely modern though.

    Yet from what I have read it seems as I live and wish to purchase in the state of NSW, just because I want to do the right thing by not over extend myself which means an established but modern home is my only real option.

    That I will in fact not be entitled to the First Home Buyers Grant nor the stamp duty concessions because the home I purchase will be established and not a brand new home or land.

    Am I correct in thinking this?? I hope not and that I have misunderstood.

    It doesn’t seem quite fair to me.

    Thank you for your time.

    • Staff
      Marc | November 26, 2015

      Hi there,
      thanks for the question.

      The first home owner grant and stamp duty concessions in NSW unfortunately only applies to new homes. A new home is defined on the Office of State Revenue NSW website as one which has not been previously occupied, nor previously sold as a residence. It can also be a home which has been substantially renovated and a home built to replace demolished premises. You can find out more about the grant on the government website.

      I hope this helps,
      Marc.

  7. Default Gravatar
    Minni | October 17, 2015

    Hi , I want to purchase a property in Sydney . I am wondering if the first home buyer grant will be avalible to me. I had previously applied and got the grant years ago but due to a horrible divorce my ex ended up with the property and I had no shares from the house . It would help a lot if I could get the grant again. Could let me know if I am eligible for grant ? Thanks

    • Staff
      Marc | October 19, 2015

      Hi Minni,
      thanks for the question.

      The eligibility requirements for the grant vary slightly in wording from state to state, but generally exclude applicants who have received the grant in the past, owned a home prior to 1 July 2000, or occupied a home for a continuous period of at least 6 months on or after 1 July 2000.

      I would recommend contacting the office of state revenue for your state for more information about how this may apply to you.

      Regards,
      Marc.

  8. Default Gravatar
    newby | September 19, 2015

    We are currently looking at building our first home but the land that we are considering is unregistered. If we sign contracts for both the purchase of the land and the purchase of the house before the end of the year will we still be entitled to the $15000 First Home Owners Grant even if the land is unregistered until the New Year or will it reduce to $10000?

    • Staff
      Belinda | September 21, 2015

      Hi Newby,

      Thanks for your enquiry.

      As you can see above on this page, the grants and concessions available for first home buyers vary depending on which state you reside in.

      Your best course of action would be to contact your local state office of revenue to see whether you’ll still be eligible to receive the concession if the land is unregistered.

      Thanks,
      Belinda

  9. Default Gravatar
    Single | August 18, 2015

    Is there any financial assistance available in Victoria for single mums ?
    I have previously owned a property in the past thereby don’t qualify for first home buyer grants or assistance. I have been forced to rent and slowly save in order to try to own a home again due to a financially devastating divorce where I have had to start from scratch.
    It is almost impossible to save enough for a deposit and all the costs such as transfer of land and stamp duty to purchase a home.
    What help if any is out there ?

    • Staff
      Marc | August 19, 2015

      Hi Single Mum,
      thanks for the question, and I’m sorry to hear about your recent troubles.

      Victoria doesn’t offer any specific financial help to single mothers. I would recommend contacting a free financial counsellor to get a handle on your finances if you feel as though you are struggling. They may also be able to help you create a plan to get on the path of home ownership. You might also want to consider speaking to a financial advisor (although these experts will generally charge fees/ receive a commission from the products you select). Alternatively, there are many qualified mortgage brokers who can help with working out how much you could borrow and what sorts of properties you might be able to afford on a single income. Brokers won’t usually charge you fees, instead they receive a commission from your lender.

      I hope this helps,
      Marc.

  10. Default Gravatar
    Help | August 17, 2015

    My partner and I are looking to buy our first home in QLD for approx $500,000. We plan on living there for more than 12 months. This is an existing home – are we eligible for any concessions?

    • Staff
      Belinda | August 18, 2015

      Hi Alyce,

      Thanks for your enquiry.

      As mentioned above on this page, the QLD Great Start Grant first home buyers receive $15,000 for buying a new property valued less than $750,000. This can be used for a brand new dwelling that has not been previously occupied as a place of residence. This may also be used for a substantially renovated home.

      You must move into the home within 1 year of the transaction and you must also live there for a continuous period of at least 6 months in order to keep the grant.

      In addition, transfer duty concessions are available for first home buyers in QLD that are purchasing a property worth less than $550,000.

      Thanks,
      Belinda

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