What grants and concessions do first home buyers receive in Melbourne?

Any general questions you might have in regards to loans and finance.
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Otto Dargan
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Re: What grants and concessions do first home buyers receive in Melbourne?

Post by Otto Dargan »

Hi Roman Bust,

You can get an estimate of the grant with the help of our First Home Owners Grant Calculator. Our calculator is designed to help you get an idea of your eligibility for government benefits such as grants and stamp duty exemptions.

The amount of the grant and the eligibility requirements can change on a regular basis and can vary from state to state so it's essential you check the State Revenue Office Victoria (SRO). Please note that if you are buying or building a new home valued up to $750,000 in Victoria, you may be eligible for a First Home Owner Grant (FHOG) and can receive up to $20000 with the FHOG. Also note that if the home is not in regional Victoria, the grant is $10,000 only.

However, you will receive a concession in the stamp duty in Victoria if:
  • you should be a first home buyer.
  • the property value is $600,000 or less.
  • Your contract date is on or after 1 July 2017,
  • At least one of the purchasers uses the property as their home and satisfies the residence requirement.
For instance, if the property value if $650,000 then you will have to pay $11,357 as stamp duty. Use our stamp duty calculator to find out how much you could save off stamp duty with a concession from the SRO.

To confirm about the location and the amount, we strongly recommend that you visit your state government’s website or call their first home buyer hotline to confirm the benefits you will receive.

Cheers,
Otto
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

User avatar
Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: What grants and concessions do first home buyers receive in Melbourne?

Post by Otto Dargan »

Hi Roman Bust,

You will need to provide the following documents to apply for FHOG:

Contract of Sale
  • All states and territories require applicants to submit a copy of the contract of sale with every application.
  • Your conveyancer or solicitor may help you obtain a copy of your contract of sale.
Identification
If you are an Australian citizen:
  • Australian birth certificate issued by Registry of Births, Deaths & Marriages, OR
  • Australian citizenship certificate, OR
  • Australian passport
Additional supporting documents
You may also require additional certified documents in the following situations:
  • Married - a certified copy of your marriage certificate,
  • Divorced - a certified copy of your divorce certificate,
  • Widowed - a certified copy of the death certificate of your spouse/ partner,
  • Separated - a statutory declaration with the following information:
    • The name of your former spouse/ partner,
    • Former spouse/ partner’s date of birth,
    • The date you were married or commenced your domestic relationship,
    • The date you separated,
    • Your former spouse/ partner’s current address (if known), and
    • A statement to the effect that you do not love together and have no intention of resuming cohabitation.
  • If you have changed your name - a certificate of the change of name certificate.
If you would like to know more about first home owner home loans, check out this page. We can also be reached on 1300 889 743 or you can fill in our free assessment form to see if you qualify for a loan or not.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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