First Home Owner Grant VIC

Thinking about buying or building your first home in Victoria?

The First Home Owner Grant (FHOG) is a one-off, tax-free payment from the government to help first-time buyers with the cost of a new home. In Victoria, the grant is $10,000 for eligible applicants.

In this guide, you’ll find out who qualifies, what counts as a new home, and how to combine the FHOG with other first-home buyer schemes to get the most value.

Use our calculator to quickly find out if you qualify for the Victoria FHOG.

Disclaimer: Please note that we’ve assumed that you’ve met standard first home buyer criteria.

If you’re eligible for the FHOG VIC, Home Loan Experts can help you apply for the FHOG and throughout your buying process. Call us on 1300 889 743 or enquire online to talk to one of our specialist mortgage brokers.

However, if you’re still deciding, continue reading.

Who’s Eligible For The FHOG In Victoria?

To qualify for the $10,000 First Home Owner Grant in Victoria, you must meet all of the following criteria:

• You’re at least 18 years old.
• You’re an Australian citizen or permanent resident.
• You or your spouse/partner must not have previously received an FHOG anywhere in Australia.
• You (and your spouse/partner) have never owned residential property in Australia before 1 July 2000, or if you bought property on or after that date, you must not have lived in it as your home.
• You’ll live in the property as your principal place of residence for at least 12 months, starting within 12 months of settlement or completion.

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

Source: State Revenue Office (SRO)

What Properties Are Eligible for the FHOG In Victoria?

Property must be a new home to qualify for the First Home Owner Grant (FHOG) in Victoria. It must be newly constructed or built by you from the ground up. Eligible property types include houses, townhouses, apartments, and units.

The property must also:

• Be valued at $750,000 or less, and
• Be sold as a home for the first time (i.e., brand new and not previously occupied).

If your property meets these requirements, it qualifies for the FHOG.

How Do I Apply for the FHOG in Victoria?

Most first-home buyers apply for the FHOG through their mortgage broker or lender as part of the home loan process. This is only possible if the lender is an approved agent of the State Revenue Office.

Alternatively, you can apply directly to the SRO. Direct applications are usually for buyers who are not using an approved lender. You can only apply after taking possession of your home, or once construction starts if you’re building.

If you’re applying through an approved lender, the process is straightforward. Your broker or lender will help you complete the FHOG application alongside your home loan paperwork. You’ll need to provide supporting documents such as proof of identity, a copy of your contract of sale or building contract, and evidence that you intend to live in the home.

We take care of the FHOG application for you when you apply through us, so there’s one less thing to worry about. Complete our free online assessment form or call us on 1300 889 743 to get started.

When Does The First Home Owners Grant Get Paid in VIC?

The timing of your FHOG payment in Victoria depends on whether you’re buying or building, and how you apply.

• If You’re Buying a New or Off-the-Plan Home
  • Through an approved agent: The grant is paid at settlement.
  • Applying directly to the SRO: The grant is paid after settlement, following review of your application within 10 working days.
• If You’re Building a Home (Contract to Build)
  • Through an approved agent: The grant is paid at the first progress payment.
  • Applying directly to the SRO: It’s paid after the Certificate of Occupancy is issued, with the application reviewed within 10 working days.
• If You’re an Owner-Builder
  • Application must be made directly to the SRO: The FHOG is paid after the Certificate of Occupancy is issued, with the application reviewed within 10 working days.

Do First Home Buyers Have to Pay Stamp Duty in Victoria?

Stamp duty concessions are available to first homeowners in Victoria whether you buy an established home or a newly built home.

As long as the property is valued below $600,000, first home buyers in Victoria don’t pay stamp duty at all. If you pay between $600,000 and $750,000 for your first home, you may still be eligible for concessions on stamp duty.

Note: To be eligible for stamp duty exemptions or concessions, you must have entered into a contract of sale to buy your first home on or after 1 July 2017.