Are you a First Home Buyer? These are the benefits you could receive

Buying your first home is a major financial decision so it’s important to understand your financial responsibilities and what help is available to you

Before you buy your first home, here are some essential facts you need to know.

1. You can receive $10,000 with the First Home Owner Grant (FHOG)

If you are buying or building a new home valued up to $750,000, you may be eligible for the FHOG. More details about the proposed changes to the FHOG for regional Victoria will be released as they become available.

2. You pay stamp duty on your purchase

When you buy your home, you’ll most likely have to pay land transfer duty (otherwise known as stamp duty). How much you pay depends on your property’s value, what you’re using it for, if you are a foreign purchaser, and whether you are eligible for any exemptions or concessions.

3. There are exemptions and concessions

You may be eligible for – and receive – more than one exemption, concession or reduction from stamp duty for your property. In Victoria, these include:

Please refer to our comprehensive comparison table to understand the differences between our most common grants and concessions/benefits when buying your first home.

Additionally, as the ongoing owner of a property in Victoria, you may also have to pay various annual taxes and levies, such as the 0.5 per cent absentee owner surcharge.

Victorian Government recent announcements

The Victorian Government has announced a number of proposed measures for housing. These include:

These changes have to be approved by the Victorian Parliament before they can begin. You should only rely on the exact detail of the changes once the legislation is passed. This is likely to be in June 2017.


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