Australian first home buyer scheme comparisons

No, your scheme is locked in at the time you sign the contract. You cannot "upgrade" from Help to Buy to the 5% Deposit Scheme after settlement. If you want full ownership, you must buy back the government share (typically at market value at the time of buy-back). For this reason, only choose Help to Buy if you genuinely cannot save the extra 3% to qualify for the 5% Deposit Scheme.

The 5% Deposit Scheme has higher caps in Sydney ($1.5M vs Help to Buys $1.3M) and in Darwin ($750K vs $600K). In Melbourne, Brisbane, Perth, Adelaide, Hobart and Canberra the two schemes have the same property price caps. So if you are buying in Sydney metro and your purchase price is between $1.3M and $1.5M, the 5% Deposit Scheme is the only option.

No. The government share is equity, not rent. You only pay back the governments share if you sell the home or choose to buy out the government voluntarily. There is no ongoing payment tied to the governments stake.

There is no fixed end date. The government retains its share until (a) you sell the home, at which point the government takes its share of the sale proceeds, or (b) you voluntarily buy back the government share (typically at the market value at the time of buy-back). Many participants buy back gradually as their equity and income grow.

Yes, this is the uniquely powerful feature of the Family Home Guarantee. Unlike the 5% Deposit Scheme (which requires first home buyer status), the Family Home Guarantee is open to any eligible single parent with at least one dependent child, regardless of prior property ownership. This is the only federal AU scheme that supports non-first-home buyers.

The child must be a dependent of the applicant, with the applicant having either sole or shared custody. Shared custody arrangements (where the child lives with each parent part-time) generally qualify if the applicant has formal parental responsibility. Each application is assessed individually by the participating lender.

A natural or adoptive parent or legal guardian who is not currently in a de facto relationship or married, with at least one dependent child (generally a child under 16, or aged 16 to 22 and substantially dependent on the applicant). Same-sex single parents qualify identically. Single applicants without dependent children do NOT qualify for the Family Home Guarantee, they would use the 5% Deposit Scheme instead.

Yes. The FHSSS has no requirement that the property be a new build. You can withdraw FHSSS-saved funds for the deposit on any owner-occupied residential property, including established homes. The new-build restriction applies only to the state FHOG, not the FHSSS.

It depends on your marginal tax rate. If you earn $90,000 (32.5% + 2% Medicare = 34.5% marginal rate) and save $15,000 via FHSSS, you save approximately $2,925 in tax that year (the difference between paying 34.5% on the $15,000 vs the 15% super rate). If you earn $150,000 (39% marginal rate), the same $15,000 contribution saves $3,600 in tax. Over 3 years of $15,000 contributions, the saving compounds to about $9,000-$11,000.

No. Only voluntary contributions (salary sacrifice or post-tax personal contributions for which you claim a deduction) count toward the FHSSS scheme. Your employers compulsory Super Guarantee contributions are separate and remain in your super fund for retirement.

The released amount must be used to enter a contract to buy or build a home within 12 months of withdrawal (extendable by another 12 months on application to the ATO). If you do not buy within that window, the funds either return to super or you pay FHSSS tax (a flat 20% on the released amount) to keep them. There is no penalty if you genuinely cant find a property, the recontribution path is straightforward.

No, Keystarts current rate of about 7.85% (July 2026) is approximately 1-1.5% higher than competitive big-four bank rates (6.15-6.55%). On a $600,000 loan, that 1% difference is roughly $6,000/year in extra interest. Keystarts advantage is access (lower deposit, more flexible credit policy), not cost. Most Keystart borrowers refinance to a bank after 3-5 years.

Yes, many Keystart products do not require first home buyer status. This is unique among AU FHB-adjacent schemes (the federal 5% Deposit Scheme requires you to have never owned residential property; Keystart does not). If you owned a home, sold it, and now need to re-enter the market with a low deposit, Keystart can be a path back in.

For Perth Metro: $860,000 cap on the Low Deposit Home Loan (lifted April 2026 from $800,000). For regional WA: varies. Kimberley and Pilbara have higher caps reflecting cost-of-living differences. Always check keystart.com.au for the current cap matching your specific product and region.