Do you qualify for discounts?
The First Home Owners Grant (FHOG) calculator is designed to work out which government benefits such as grants and stamp duty exemptions that you may be eligible for.
$25,000 HomeBuilder Grant
The federal government has announced a $25,000 grant to either build a new home or renovate an existing home.
The grant is available for home buyers and home owners who sign a contract before the 31st of December 2020.
You can view the full eligibility criteria on our HomeBuilder page.
Please be aware that:
- We have assumed that you meet some standard first home buyer criteria.
- We have assumed that you are signing the contract of sale today.
- If you are not looking to purchase right now, the benefits may change in the future.
- Please refer to your state government website to confirm the full criteria and grant conditions.
- First home buyers should also use our credit score, borrowing power and LMI calculators.
Are there grants for non-first home buyers?
Yes, some grants are for other types of people such as seniors, carers or people relocating to a regional area.
In addition to this many state governments have stamp duty exemptions for people who are buying a new property, even if it is an investment!
Stamp duty exemptions
If you are buying a property for more than $600,000, then you may find that the stamp duty cancels out the grant!
For this reason a lot of state governments also have stamp duty exemptions for eligible first home buyers.
You’ll find that a stamp duty exemption greatly reduces the minimum deposit that you neeed.
Did you know that our grant calculator is also a stamp duty calculator?
Construction & new home grants
Some state governments only give a first home grant, or have an additional grant, if you are buying a new property or building a new home.
These are some of the larger grants which can make buying a new property very attractive.
However you should be cautious to make sure that the property developer hasn’t inflated their prices due to a high number of first home buyers seeking a new apartment or house. Please refer to our guide on how to value a property.
Regional relocation grants
In some states there is a grant if you are moving from a metropolitan area to an eligible regional location.
The purpose of this grant is to lessen the brain drain to the capital cities and assist with the cost of relocating to a country area.
Unfortunately many people that qualify for these grants don’t know that they exist!
Both the standard and skilled regional relocation incentive in New South Wales was scrapped in 2015. There’s no telling if and when it will come into effect again.
However, the 2016-17 Victorian Government Budget saw the FHOG doubled from $10,000 to $20,000 (as of 1 July 2017) for purchases of new homes in select regional areas.
The vic.gov.au website has a complete regional councils where the higher FHOG applies.
You should also check with your relevant state’s office of revenue to find out what grants may be available to you and get updates on what they’re planning to introduce.
Rural & regional grants
Many state governments have a higher first home owners grant for people buying a home in a regional location.
The purpose of this grant is to stimulate new home construction and housing affordability outside of the capital cities.
Please refer to our calculator to see if this is available in your state.
When do first home owners grants change?
The first home owners grant is a hot political topic!
In fact the grants were first introduced in 2000 to offset the increase in new home prices due to the introduction of the GST.
Politicians are well aware that young Australians are concerned that they may not be able to afford a home. For this reason they often promise new benefits during elections.
Federal elections are likely to result in changes to the standard first home owners grant, as this is a Federal scheme.
State elections are likely to result in changes to construction, new home, relocation and regional grants as well as stamp duty exemptions.
If the building industry is stagnating then it is likely that the state government will introduce or increase their new home grant as this has been a very effective method of boosting the industry.
When will it end?
Currently there is no end date for the main first home owners grant.
However state grants all have specific end dates, please refer to your state government for the full details.
We’ve compiled a list of all government schemes and grants available for first home buyers.
Which states have first home grants?
*The FHOG in ACT has been replaced by the new Home Buyer Concession Scheme, which will provide a full duty concession for eligible home buyers effective 1 July 2019.
Please note that each state government has different benefits!
Do you qualify for the First Home Loan Deposit Scheme?
The Australian government’s new initiative called the First Home Loan Deposit Scheme starts from 1 January 2020, and as a first home buyer you may qualify for the scheme.
The Scheme allows low, and middle-income Australian first home buyers purchase a property with a deposit as low as 5% and pay no Lenders Mortgage Insurance (LMI).
The best part is that you can use the scheme together with other grants such as the state governments’ first home owners grant (FHOG), stamp duty concessions and the First Home Super Saver Scheme.
Don’t base your buying decision on grants
Some first home buyers specifically choose a property type of location because of additional first home benefits.
We strongly believe that your focus should be on what property is suitable for you and if you are ready to buy a home.
Too many first home buyers buy a property before they are ready simply because of a special grant that ends soon.
You can use our step by step first home buyers guide to buy your first home.
This calculator is a guide only. Due to the complexity of the qualification criteria and the differences between the state governments it is not always possible to keep our calculator up to date.
You can refer to your state government website for the full eligibility requirements, qualifying transactions and changes in the first home benefits such as grants and stamp duty exemptions. We accept no liability for any inaccuracies in this calculator.
If you have any questions then please call us on 1300 889 743 or enquire online and one of our mortgage brokers will call you back to discuss your options.