New South Wales
As a first home buyer in NSW you may be eligible for up to $35,000 in grants, plus they may be exempt from paying any or all stamp duty fees.
The grants vary depending on newly built homes versus buying a new residence. However the $10,000 first time home owner’s grant stands for both then you can claim the homebuilder grant of $25,000 if you are actually building a new residence.
To qualify as a first home buyer you must be:
- Minimum 18 years old.
- an Australian citizen or a permanent resident of Australia
- Purchasing the first home you or your spouse have owned or co-owned in Australia (there are some exceptions).
- You must also move into the property within twelve months, and live there for a minimum of 6 consecutive months.
Qld first home owners may be eligible up to $55,000 with the $15,000 home owns grant in place plus the extra $25,000 announced by the government.
Also first-home-owners purchasing a home in Qld for less than $550,000 are also eligible for a first home stamp duty concession up to $15,925
Vic First time home owners could be eligible to receive $45,000. Depending on whether the home is in regional Victoria or the city and if you are building a new home or purchasing a home that is less than five years old, will depend on the grants available to you.
City: $20,000 grant, plus concessional stamp duty for newly built or under 5 years old with a value of 750K maximum
Regional Vic: 10,000 grant, plus concessional stamp duty for newly built or under 5 years old with a value of 750K maximum
If you’re new home is valued at less than $600k it will be exempt from stamp duty fees.
Grants up to $20 000 first home buyers building a new place of residence in TAS or purchasing a newly built one.
Grants up to $20,000 for eligible first home buyers building a new place of residence in TAS or purchasing a newly built one until June 30th 2022.
Those purchasing an eligible home that up to a maximum of $400,000 that is already established, could receive first home owner duty concession discount of up to fifty percent
WA First time home owners can claim up to $70,000 with the $25,000 Home Builder and the $20,000 building bonus package. Plus the $10,000 first home buyers grant and stamp duty concessions, mean you could save up to $70k.
Australian Capital Territory
From 1st July 2020 first home buyers in Canberra will have the duty on any property removed. The current ‘FHOG’ First home owner grant scheme provides finance up until 30th June 2020 for a $7,000 grant. The Funding is for building a new home or purchasing an off-the-plan home, or one that has been significantly renovated.
SA first time home owner grants are saving you up to $40,000, with $15K in new home concessions, plus the $25,000 Home-builder grant for construction or purchasing a residential property including an apartment, flat, house, townhouse or unit in South Australia.