It’s no secret that buying a home in Australia is harder than getting a backstage pass to a Taylor Swift concert. Before you even get to the buying part, it can take years to save up for a deposit. 

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…unless of course you’re one of the lucky lottery winners from last week.

But with housing prices having reached greater heights than the Burj Khalifa, entering the property market has become a serious slog.

In fact, according to CoreLogic, it now takes an average of 10 years to save a 20% deposit. And that’s just the deposit!

But thankfully, the government has made it a teensy bit easier to enter the housing market with their First Home Owner Grant (FHOG).

The first home owner grant or (FHOG) is a national scheme where the government provides a one-off grant to help first home buyers enter the housing market.

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Who’s eligible for the FHOG?

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You’re eligible for the FHOG if you:

• You’re a first home buyer
• You’ve never received the grant before
• You’re an Australian citizen or permanent resident
• You’re a ‘natural’ person (aka you’re a human and not a company or a trust)
• You’ll be living in the house you’re buying for at least six months
• The property is either new or ‘substantially renovated’

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While the eligibility rules are nation-wide, the FHOG looks different state to state. Have a look at how you can benefit under the FHOG in your state.

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The first home owner grant in Victoria

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Victorians, you’ve got a crispy $10,000 available to you if you’re eligible for the FHOG, AND there’s $20,000 available if you’re planning to buy or build in regional Victoria.

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The property you’re buying must be valued at $750,000 or less and be a new home that’s never been lived in or sold before.

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You won’t be eligible for the FHOG if you’ve got a spouse or partner that has:

• Received the FHOG 
• Owned a property in Australia prior to 1 July 2000
• Lived in a home that either of you owned on or after 1 July 2000 for atleast six months

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You can find more details on the SRO website

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The first home owner grant in New South Wales

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If you’re living in New South Wales, you’re eligible to receive $10,000 when you buy or build your first new home if:

• You purchase a newly built dwelling that doesn’t exceed $600,000
• You purchase vacant land that you plan to build on and the total value of the land and building contract don’t exceed $750,000

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You can find more on the details of eligibility on the Revenue NSW website. 

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The first home owner grant in Queensland

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In Queensland, the FHOG is valued at $30,000, if you’re buying or building a new home between 20 November 2023 and 30 June 2025, and $15,000 if you signed your contract before 20 November 2023.

The eligibility details are slightly different if you’re an owner-builder (ie. building your house on your own or engaging multiple contractors to build your home).

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And like most other states, to be eligible, you need to be:

• Purchasing a new home that’s not been lived in before
• The value of the home and land must be less than $750,000

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The remaining eligibility information is available on the Queensland Revenue Office website.

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The first home owner grant in South Australia

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South Australians are eligible for up to $15,000 if you’re buying or building a new home, which you’ll be living in.

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The market value of the property must be:

• $650,000 or less if you signed the contract on or after 15th June 2023
• $575,000 or less if you signed the contract between 17th September 2010 and 14th June 2023

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The rest of the eligibility information is available on the Revenue SA website. 

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The first home owner grant in Tasmania

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Tasmanian residents are eligible for up to a FHOG worth $30,000 for contracts signed between April 1 2021 and 30 June 2024 and $20,000 for contracts signed between 1 July 2016 and 31 March 2021.

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The first home owner grant in Western Australia

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In Western Australia, you’re eligible for $10,000 under the FHOG when you buy or build a new home.

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If you’re located south of the 26th parallel (which includes all of metropolitan Perth), you can claim the FHOG on a new home worth up to $750,000.

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If you’re located north of the 26th parallel, you can claim the FHOG on a new home worth up to $1,000,000.

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The first home owner grant in Northern Territory

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In Northern Territory, you’re eligible for $10,000 under the FHOG when you buy or build a new home irrespective of the price of the property.

So unfortunately these schemes aren’t a free ticket into the housing market, but if you’re already looking, it could just help you get over the line!