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.
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