First Home Buyer Grant VIC 2026

The Victorian First Home Owner Grant gives eligible first home buyers $10,000 towards the purchase of a new home valued under $750,000. This applies to newly built homes, off-the-plan apartments, and substantially renovated properties. Established homes are not eligible for the FHOG.

To qualify, you must be at least 18 years old, an Australian citizen or permanent resident, and neither you nor your partner can have previously owned residential property in Australia. You must move into the property within 12 months and live there for at least 12 continuous months.

How to apply: Apply through your lender at the time of your home loan application. Your mortgage broker handles the paperwork and the grant is typically credited at settlement. Alternatively, apply directly through the State Revenue Office of Victoria within 12 months of settlement. You'll need your contract of sale, proof of identity, and evidence the property qualifies as a new home.

Victoria provides a full stamp duty exemption for first home buyers purchasing a property valued at $600,000 or less. For properties between $600,000 and $750,000, concessional rates apply on a sliding scale — you'll pay reduced duty but not the full amount.

This exemption applies to both new builds and established homes, which is a significant advantage for buyers looking at existing properties. Properties above $750,000 attract the full stamp duty rate with no first home buyer concession.

Example savings: On a $400,000 property, you save approximately $16,000 in stamp duty. On a $500,000 property, you save around $21,970. On a $600,000 property, you still pay $0 — saving approximately $25,070. Between $600,000 and $750,000 the concession reduces gradually. Your solicitor applies the exemption automatically during the transfer process.

Victoria's off-the-plan stamp duty concession was extended by 18 months in 2025 and now runs until 31 October 2026. Eligible buyers pay stamp duty calculated on the land value at contract date only — not the finished property value. On a $900,000 off-the-plan apartment in Melbourne, the effective duty could be calculated as if the property were worth $250,000 at signing, dropping the bill from ~$48,000 to under $9,000.

Eligibility: strata or community-title contracts signed on or before 31 October 2026 for properties not yet titled or substantially completed. Applies to both first home buyers and existing homeowners — the concession is NOT restricted to FHBs. First home buyers under the $600,000 threshold already get full stamp duty exemption (the OTP concession is only valuable above $600K where it can effectively re-bring you under the threshold).

How to claim: your conveyancer or solicitor calculates the dutiable value at contract date and lodges the OTP concession application with the Victorian State Revenue Office alongside the standard transfer paperwork. Contract date is the binding event — sign before 31 October 2026 to qualify.

Source: Victorian State Revenue Office. Concession extension legislated in 2025. Combined with the $10,000–$20,000 FHOG and the federal 5% Deposit Scheme, eligible VIC FHBs buying off-the-plan stack 3–4 separate scheme benefits.

Victorian Homebuyer Fund (CLOSED 10 September 2025): The VIC state shared-equity scheme that contributed up to 25% of the purchase price is no longer accepting new applications. Existing participants are unaffected. The replacement scheme for VIC first home buyers is the federal Help to Buy programme (launched 5 December 2025), which contributes 30%–40% government equity for eligible buyers earning under $100K single or $160K couple.

First Home Guarantee (federal): Purchase with just a 5% deposit and pay no Lenders Mortgage Insurance. The Australian Government guarantees up to 15% of the property value. No income caps and unlimited places since October 2025. This can save you $10,000-$30,000 in LMI.

First Home Super Saver Scheme (FHSSS): Save up to $50,000 in your superannuation fund for a home deposit with tax advantages. Contributions are taxed at 15% instead of your marginal rate — potentially saving thousands while building your deposit faster.

Combining schemes: A Victorian first home buyer purchasing a new $600,000 property could receive the $10,000 FHOG, pay zero stamp duty (saving ~$25,000), use the First Home Guarantee for a 5% deposit, and potentially access the Homebuyer Fund — a combined benefit of over $50,000 in savings and support.

Step 1 — Get pre-approved: Start with a mortgage broker who can assess your borrowing power and confirm which grants and schemes you qualify for. They'll factor the $10,000 FHOG and stamp duty savings into your budget.

Step 2 — Apply through your lender: The simplest method is to apply for the FHOG through your lender at the time of your home loan application. Your broker manages the paperwork and the grant is credited at settlement.

Step 3 — Apply directly (if needed): You can apply directly to the State Revenue Office of Victoria within 12 months of settlement. Required documents include your contract of sale, proof of identity, evidence the home qualifies, and your settlement statement.

Common mistakes to avoid: Don't forget Victoria requires 12 continuous months of residence (longer than most states). Don't assume the Homebuyer Fund is automatic — you must apply separately and meet income thresholds. Don't wait to arrange your solicitor — in VIC, contracts are prepared by the seller's solicitor and you need your own solicitor to review before signing.