The First Home Owner Grant (FHOG) is a lump sum of cash funded by state governments to help with the purchase of your first home or block of land. It does not need to be re-paid.
Because it is funded by state governments, the actual amount of the grant is different in each state, and exactly how much you will receive depends on where you are buying and what you are buying.
In some states, the First Home Owner Grant is only available if you buy or build a new home. Likewise, in some states, you may not be eligible for the FHOG if you pay over a certain value for your first home.
For example:
In Victoria,
The FHOG is $10,000 however it is only available if you buy a newly built home, or if you choose to build a home from scratch.
Your first home can be a house, townhouse, apartment, or unit but it must be valued at $750,000 or less, and it must be being sold as a home for the first time, and less than five years old.
The FHOG Victoria is not available if you buy a holiday home or investment property.
In NSW
The FHOG is worth $10,000 however your first home must have a total value below $600,000 and be either newly constructed or ‘substantially renovated’. A home is substantially renovated when most or all of the original house was removed or replaced, and it’s the first time the place has been sold, and lived in, after the renovations were completed.
If you are building a new home from scratch, you may be eligible for the FHOG in NSW is your land plus the home you build have a combined value of less than $750,000.
You may still be eligible for the FHOG in NSW if you’ve previously owned a residential property, but you haven’t lived in it for more than six months.
