First Home Buyer Grants Victoria

Summary: Victorian First Home Buyers may be eligible for both the First Home Owner Grant (FHOG) and First Home Bonus, to assist with the purchase of their first home. Conditions do apply.

First Home Owner Grant (FHOG) Cap

From 1 January 2010, the Victorian government has introduced a property value threshold of $750,000; only properties below this value may be eligible for the First Home Owner Grant of $7,000.

First Home Bonus Victoria

The First Home Bonus is an additional payment on top of the First Home Owner Grant of $7,000 that Victorian first home buyers may also be eligible for, when purchasing a newly constructed home up to the value of $600,000. The exact amount available depends on whether you are metro or regionally based. A full overview of incentives can be found in the table below.

Total First Home Buyer Incentives

As at July 1, 2010, eligible first home buyers in Victoria will receive:

Property Type	First Home Owner Grant#	First Home Bonus*	Regional Bonus*	TOTAL
Established Homes	$7,000	$0	$0	$7,000
Newly Constructed Homes – Metro Areas	$7,000	$13,000	$0	$20,000
Newly Constructed Homes – Regional Areas	$7,000	$13.000	$6,500	$26,500

#For contracts entered into after 1 January 2010, to qualify for the Grant, the price of the property or construction of the home must not exceed $750,000.
*For contracts entered into between 1 July 2009 to 30 June 2011, to qualify for the Bonus, the value of the property must not exceed $600,000.

Help to Apply for First Home Buyer Grants in Victoria

To find out if you are eligible for first home buyer grants in Victoria, including the First Home Owners’ Grant, and for help applying, fill in the form below to talk to your local mortgage broker, or call us anytime on 13 LOAN or direct on +61 2 9249 3739.

Victoria Office of State Revenue

The Victoria Office of State Revenue (OSR) administers all first home buyer grants and concessions for Victorian buyers. You can contact the VIC OSR on (03) 9628 6777 or visit their website at www.sro.vic.gov.au