Victorian First Home Owners Grant

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, up from $10,000 for new homes valued up to $750,000 if you signed a contract between July 1, 2017 and June 30, 2021. The state government will double the First Home Owners Grant for regional Victoria in a bid to draw more young buyers into regions and counter the capital’s housing affordability crisis.

You're not eligible for the FHOG if you or your spouse/partner have already:

• Received the FHOG in Australia
• Owned a home in Australia, either jointly or separately, prior to 1 July 2000
• Lived in a home in Australia in which either of you owned or part-owned on or after 1 July 2000, for a continuous period of at least six months

These criteria apply even if your spouse/partner is not an applicant with you for the FHOG.

Additionally:

• All FHOG applicants must be at least 18 years of age 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.
• You (or at least one applicant) must intend to live in the home as your principal place of residence for at least 12 months, commencing within 12 months of settlement or completion of construction.

More Information:

HomeBuilder Scheme

Eligible Australians can now receive grants of $15,000 to build their new home, or substantially renovate their existing property under the Federal Government’s new HomeBuilder scheme.

The stimulus was created to help first home buyers enter the property market, assist those who have been looking to enter the property market, and help the residential construction industry bounce back following the COVID-19 pandemic.

HomeBuilder can be used in conjunction with existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes.

• Be an individual (not a company or trust)
• Be aged over 18 years or over
• Be an Australian citizen
• Build a new home (it does not have to be your first home) as an owner-occupier or substantially renovate your existing home
• Meet the two income caps – an individual earning under $125,000 per annum or a couple earning under $200,000 combined annually
• Substantially renovate your existing principal place of residence under the condition it that it is valued under $1.5 million prior to renovating

• You must enter a building contract between January 1, 2021 and March 31, 2021
• Construction must commence within six months of the contract date
• Building work must be completed by a licenced building contractor, the contractor cannot be a relative of the property owner
• Renovations can be a combination of works including kitchen, bathroom etc.
• Renovations must improve the accessibility, safety and liveability of the home
• Renovations do not include swimming pools, tennis courts, outdoor spas and saunas, detached sheds or garages
• Owner-builders and people seeking to build a new home or renovate an existing home as an investment property are ineligible