If you are buying or building a new home, you may be eligible for the FHOG ($10,000) if you signed your contract on or after 1 July 2013.
Your new home can be a house, townhouse, apartment, unit or similar, but it must be valued at $750,000 or less and be the first sale of the property as a residential premises.
First home buyers building new homes in regional Victoria may be entitled to $20,000 as of July 1 this year, up from $10,000 for new homes valued up to $750,000. The state government will double the first home owners grant for regional Victoria in a bid to draw more young buyers into the regions and counter the capital’s housing affordability crisis.
You’re not eligible for the FHOG if you or your spouse/partner have already:
All FHOG applicants must be at least 18 at settlement or completion of construction (although there is discretion with this age requirement).
You (or at least one applicant) must be an Australian citizen or permanent resident at the time of settlement or completion of the home’s construction, and
You (or at least one applicant) must intend to live in the home as your PPR for at least 12 months, commencing within 12 months of settlement or completion of construction
More information: http://www.sro.vic.gov.au/first-home-owner