--- title: First-Home Buyer's Guide to Buying Off-The-Plan in Victoria (2026) description: Buying your first home in Victoria? Learn how stamp duty savings, the FHOG and off-the-plan apartments can help you plan your path to ownership. image: https://blog.norus.com.au/hubfs/504-5.jpg --- [Skip to the main content.](https://blog.norus.com.au/first-home-buyers-off-the-plan-victoria-2026#main-content) [![Copy of NORUS BRANDING](https://blog.norus.com.au/hs-fs/hubfs/Norus%20Projects/Copy%20of%20NORUS%20BRANDING.png?width=500&height=125&name=Copy%20of%20NORUS%20BRANDING.png "Copy of NORUS BRANDING")](https://www.norus.com.au) [![Copy of NORUS BRANDING (1)](https://blog.norus.com.au/hs-fs/hubfs/Copy%20of%20NORUS%20BRANDING%20(1).png?width=500&height=125&name=Copy%20of%20NORUS%20BRANDING%20(1).png "Copy of NORUS BRANDING (1)")](https://www.norus.com.au) - [Projects](https://www.norus.com.au/sanctuary_sandringham) - [Norus | Beach Point](https://www.norus.com.au/beach_point) - [Norus | Parkview](https://www.norus.com.au/park_view) - [Norus | Riverbend](https://www.norus.com.au/riverbend_ivanhoe) - [Norus | Sanctuary Sandringham](https://www.norus.com.au/sanctuary_sandringham) - [About](https://www.norus.com.au/about) - [Construction Updates](https://www.norus.com.au/construction_progress) - [Completed Projects](https://www.norus.com.au/completed_projects) - [Blog](https://blog.norus.com.au) Toggle Menu Toggle Menu - [Projects *Toggle Menu*](https://www.norus.com.au/sanctuary_sandringham) - [Norus | Beach Point](https://www.norus.com.au/beach_point) - [Norus | Parkview](https://www.norus.com.au/park_view) - [Norus | Riverbend](https://www.norus.com.au/riverbend_ivanhoe) - [Norus | Sanctuary Sandringham](https://www.norus.com.au/sanctuary_sandringham) - [About](https://www.norus.com.au/about) - [Construction Updates](https://www.norus.com.au/construction_progress) - [Completed Projects](https://www.norus.com.au/completed_projects) - [Blog](https://blog.norus.com.au) [*Facebook*](https://www.facebook.com/profile.php?id=61554483013407) [*Instagram*](https://www.instagram.com/norus.projects/) [*LinkedIn*](https://blog.norus.com.au/first-home-buyers-off-the-plan-victoria-2026#0) [*Twitter*](https://blog.norus.com.au/first-home-buyers-off-the-plan-victoria-2026#0) [*Youtube*](https://blog.norus.com.au/first-home-buyers-off-the-plan-victoria-2026#0) [*Medium*](https://blog.norus.com.au/first-home-buyers-off-the-plan-victoria-2026#0) 10 min read # First-Home Buyer's Guide to Buying Off-The-Plan in Victoria (2026) [Norus Blog](https://blog.norus.com.au/author/norus-blog) : Published October 9, 2026 [First Home Buyer](https://blog.norus.com.au/tag/first-home-buyer) [Off-the-Plan Property](https://blog.norus.com.au/tag/off-the-plan-property) [Melbourne Property](https://blog.norus.com.au/tag/melbourne-property) [Grants & schemes](https://blog.norus.com.au/tag/grants-schemes) [Investing](https://blog.norus.com.au/tag/investing) ![First-Home Buyer's Guide to Buying Off-The-Plan in Victoria (2026)](https://blog.norus.com.au/hs-fs/hubfs/504-5.jpg?width=4248&height=2840&name=504-5.jpg) Buying your first home is exciting, but it can also feel like a long list of numbers, rules and decisions. There is the deposit to save, finance to arrange, stamp duty to understand and government support to check. Then there is the question of whether to buy an established home or consider something new. For Victorian first-home buyers, purchasing off-the-plan can create a different pathway into home ownership. You agree to buy a new apartment before construction is complete, secure the agreed purchase price and usually have time between signing the contract and settlement to continue building your savings. There can also be valuable government support available. Depending on your circumstances and the property you choose, a first-home buyer may be able to combine Victorian stamp duty benefits with the off-the-plan concession and the First Home Owner Grant. Federal programs can also help eligible buyers with their deposit or borrowing pathway. Victoria's temporary off-the-plan stamp duty concession currently applies to eligible contracts entered into before 21 April 2027, so timing can make a meaningful difference when comparing your options. The important part is understanding what applies to you before you make a decision.   ## **Three reasons first-home buyers choose off-the-plan** One of the biggest challenges when buying your first home is getting everything to line up at the same time. You need a suitable property, enough savings, finance approval and confidence that the repayments will fit your budget. Buying off-the-plan can give you more breathing room.   ### **You can agree on the purchase price earlier** When you sign an off-the-plan contract, the purchase price is agreed at that point. Settlement generally occurs later once the apartment is completed and the required titles and approvals are in place. This does not mean property values will necessarily rise during construction. Markets can move in either direction. However, knowing the contract price can help you build a clearer savings and finance plan while construction progresses.   ### **You have more time to prepare for settlement** Instead of buying an established property and settling within a relatively short timeframe, an off-the-plan buyer may have months between signing and settlement. That period can be useful for continuing to save, preparing for moving costs and working with a lender or mortgage broker on your finance. It is still important to plan carefully. Your lender will generally need to complete a final assessment before settlement and your circumstances or lending conditions can change during construction.   ### **Buying off-the-plan has financial incentives** This is where buying new becomes particularly relevant for a first-home buyer. Victoria provides a First Home Owner Grant of $10,000 for eligible buyers purchasing or building a new home valued at up to $750,000. The home must meet the relevant new-home and residence requirements. Buying off-the-plan can also affect the value used to calculate stamp duty because eligible construction costs incurred after the contract date may be deducted from the property's dutiable value. **Stack the incentives: understanding what may work together** There is no single "first-home buyer discount". Instead, there are several separate programs and concessions, each with its own rules. Some can work together while others are alternative pathways.   ### **First-home buyer stamp duty exemption and concession** For eligible first-home buyers in Victoria: - A home with a dutiable value of up to $600,000 can receive a full stamp duty exemption - A home with a dutiable value from $600,001 to $750,000 can receive a reduced amount of stamp duty - Above $750,000, the standard first-home buyer exemption or concession no longer applies. The home can be new or established. Eligible buyers must also meet the residence and other qualifying requirements. For example, an eligible first-home buyer purchasing an established property with a dutiable value of $650,000 would currently pay approximately $11,357\* in stamp duty after the first-home buyer concession.   ### **The temporary Victorian off-the-plan stamp duty concession** For qualifying off-the-plan apartments and townhouses, Victoria's temporary concession can reduce the amount of stamp duty payable. Rather than automatically calculating duty on the entire contract price, eligible construction costs incurred after the contract is signed can be deducted when determining the dutiable value. The temporary concession applies to eligible contracts entered into on or after 21 October 2024 and before 21 April 2027. It applies to qualifying residential apartments and townhouses in strata subdivisions with common property and there is no property value cap for the temporary concession itself. For a first-home buyer, this can be especially useful because the reduced off-the-plan dutiable value may then fall within the first-home buyer exemption or concession thresholds. Imagine an eligible first-home buyer agrees to purchase a new apartment for $650,000. If the allowable construction deduction provided for duty purposes reduces the dutiable value to $600,000 or below, the buyer may qualify for the full first-home buyer stamp duty exemption.   ### **First Home Owner Grant for a new apartment** Eligible Victorian first-home buyers purchasing a new home worth up to $750,000 may also qualify for the $10,000 First Home Owner Grant. A qualifying home can include a new apartment, townhouse, unit or house that has not previously been sold or occupied as a residence. You must also satisfy the applicable eligibility and residence rules. Unlike the stamp duty exemption, the grant is tied specifically to eligible new homes.   ### **Established versus off-the-plan at $650,000** Here is a simplified example showing why it is worth checking the complete picture rather than comparing purchase prices alone. | | **Established home at $650,000** | **New off-the-plan home at $650,000** | | --- | --- | --- | | Purchase price | $650,000 | $650,000 | | First-home-buyer stamp duty | Approx. $11,357\* | Potentially $0 if the eligible off-the-plan dutiable value falls to $600,000 or below | | First Home Owner Grant | Not available for an established home | $10,000 if the buyer and property qualify | | Australian Government 5% Deposit Scheme | Potentially available | Potentially available | | Indicative difference from stamp duty and FHOG in this example | Baseline | Potentially around $21,357\* more favourable | *\*Based on current* [*SRO*](https://sro.vic.gov.au/buying-property/land-transfer-stamp-duty/concessions-exemptions-and-waivers/first-home-buyers/first-home-buyer-duty-exemption-or-concession)*rates for an eligible buyer. Confirm your individual position with your conveyancer or solicitor.*   This is an illustration, not a quote for a specific purchase. The off-the-plan construction deduction varies from property to property and buyers should confirm their actual stamp duty position with their conveyancer or solicitor. Other purchasing costs such as conveyancing, registration, finance costs and owners corporation expenses are also excluded from the table.   ### **The Australian Government 5% Deposit Scheme** The former Home Guarantee Scheme was expanded and renamed the Australian Government 5% Deposit Scheme from 1 October 2025. Eligible first-home buyers can purchase with a minimum deposit of 5% of the home's lender-assessed value. There are currently no income caps, no waiting list and places are uncapped. Eligible buyers can also avoid Lenders Mortgage Insurance because the Australian Government provides a guarantee to the participating lender. New and established properties can qualify, including eligible off-the-plan apartments. For Victoria, the current property price cap for Melbourne and specified regional centres is $950,000, subject to the scheme's other requirements and the lender's own credit assessment. Importantly, the 5% Deposit Scheme helps with the deposit and loan structure. It is not a cash grant and the buyer remains responsible for the mortgage.   ### **Help to Buy** The Australian Government's Help to Buy program offers another pathway for eligible buyers. It is a shared equity arrangement where buyers contribute a minimum 2% deposit, obtain an eligible home loan and the Australian Government can contribute up to 30% of the purchase price of an existing home or up to 40% of a new home. For the 2026–27 financial year, taxable income limits are currently $103,000 for an individual applicant and $165,000 for joint applicants or single-parent applicants. Because the Government holds a proportional financial interest in the property, it also shares proportionally in future gains or losses when its share is bought back or the property is sold. Help to Buy and the Australian Government 5% Deposit Scheme cannot be used together, so buyers should compare which pathway may suit their circumstances. Stamp duty concessions and eligible grants can still potentially apply alongside Help to Buy.   ## **What can a first-home buyer actually buy?** Understanding the incentives is useful, but the next question is usually much simpler: what fits within my budget? This is where new apartments can offer another option for buyers looking in established Melbourne suburbs. At the time of publication, [Riverbend Ivanhoe](https://www.norus.com.au/riverbend_ivanhoe) offers apartments from $519,000 while [Parkview Burwood](https://www.norus.com.au/park_view) offers apartments from $419,000, subject to availability and price changes. Both starting price points sit below Victoria's $600,000 full first-home buyer stamp duty exemption threshold for eligible buyers. That means a qualifying first-home buyer purchasing an eligible apartment at those price points may pay $0 stamp duty under the first-home buyer exemption. Because these are new apartment developments, eligible purchasers may also be able to access the $10,000 First Home Owner Grant where the property and buyer meet all requirements. The right apartment should still be chosen on more than incentives alone. Think about floor plan functionality, natural light, storage, transport, local amenities, owners corporation costs and how well the home suits your plans for the next several years. A lower upfront cost is useful, but the goal is ultimately to choose a home that works for your lifestyle and finances.   ## **From first enquiry to keys: the Norus first-home buyer support process** Every purchase is different, but an off-the-plan first-home journey will typically move through several stages. ### **First enquiry** Start by exploring available homes and identifying apartments that suit your preferred location, number of bedrooms, approximate budget and buying timeframe. ### **Finance preparation** If you need financial support, the Norus team can introduce you to mortgage brokers who can discuss borrowing capacity, deposit requirements and government schemes based on your circumstances. A lender or broker is responsible for financial advice and loan assessment, but an early introduction can help you understand what information you will need before choosing an apartment. ### **Apartment selection** Review available floor plans, finishes, orientation, pricing, inclusions and the expected project timeframe with the sales team. For an off-the-plan home, plans and specifications become particularly important because the finished apartment may still be under construction. ### **Contract stage** Your contract contains the legal details of your purchase. Buyers can choose to have their conveyancer or solicitor review the documents before signing and explain any points that require professional legal advice. Norus can help guide you through the practical steps and provide project information your adviser needs. ### **Construction period** As construction progresses, buyers receive updates and can continue preparing financially for settlement. This can also be a useful period for planning furniture, moving arrangements and future expenses. ### **Pre-settlement preparation** Your lender completes its finance process and your legal representative prepares for settlement. Any applicable duty concession or exemption is also addressed through the relevant process. ### **Settlement and move-in** Once settlement takes place and the home is ready for occupation, you receive your keys and begin the next stage as a homeowner.   ## **First-home buyer FAQs** ### **Do first-home buyers pay stamp duty in Victoria?** Eligible first-home buyers pay no stamp duty where the relevant dutiable value is up to $600,000. A concession applies from $600,001 to $750,000. Above $750,000, the standard first-home buyer duty exemption and concession do not apply. ### **Can I get the First Home Owner Grant when buying an apartment?** Yes, an apartment can qualify. In Victoria, the current grant is $10,000 for eligible first-home buyers purchasing or building a qualifying new home worth up to $750,000. Eligibility and residence requirements apply. ### **Is the off-the-plan concession only for first-home buyers?** No. Victoria's temporary off-the-plan concession for qualifying strata apartments and townhouses is available to all types of buyers. However, first-home buyers may also have access to their separate first-home buyer stamp duty exemption or concession. ### **When does Victoria's temporary off-the-plan concession end?** The current temporary concession applies to eligible contracts entered into on or after 21 October 2024 and before **21 April 2027**. ### **Can I use the 5% Deposit Scheme to buy off-the-plan?** Yes, eligible off-the-plan purchases are among the property types supported by the Australian Government 5% Deposit Scheme. The property must meet the applicable price cap and the buyer must satisfy the scheme and participating lender requirements. ### **Can I combine Help to Buy with the 5% Deposit Scheme?** No. The Australian Government 5% Deposit Scheme and Help to Buy cannot be used together. Buyers can compare the two pathways and discuss their circumstances with a participating lender. ### **Does buying off-the-plan guarantee I will save stamp duty?** No. The amount depends on the applicable concession, contract timing, construction stage and eligible construction costs. Ask for an estimate based on the apartment you are considering and have your conveyancer or solicitor confirm your position. ## **Ready to explore your first-home options?** Buying your first home becomes easier to navigate when you understand the numbers, the available support and the steps ahead. [Norus Projects](https://www.norus.com.au/) offers a range of new apartment opportunities across Melbourne, including homes that may suit eligible first-home buyers looking to make the most of current Victorian incentives. With Victoria's temporary off-the-plan stamp duty concession currently applying to eligible contracts entered into before 21 April 2027, now is a good time to understand what may apply to your purchase. Book a first-buyer consultation to explore available apartments, compare floor plans and understand the next steps towards your first home.   *Sources:* [*https://sro.vic.gov.au/buying-property/land-transfer-stamp-duty/concessions-exemptions-and-waivers/first-home-buyers/first-home-buyer-duty-exemption-or-concession*](https://sro.vic.gov.au/buying-property/land-transfer-stamp-duty/concessions-exemptions-and-waivers/first-home-buyers/first-home-buyer-duty-exemption-or-concession) [*https://sro.vic.gov.au/offtheplan*](https://sro.vic.gov.au/offtheplan?utm_source=chatgpt.com) [*https://www.sro.vic.gov.au/buying-property/land-transfer-stamp-duty/concessions-exemptions-and-waivers/plan-duty-concession-0/apply-plan-concession*](https://www.sro.vic.gov.au/buying-property/land-transfer-stamp-duty/concessions-exemptions-and-waivers/plan-duty-concession-0/apply-plan-concession?utm_source=chatgpt.com)   ### **Register Your Interest In Norus Projects Apartments and Townhouses.** Just enter your details below. Loading...    \*Terms and Conditions apply to any promotions and information that may be contained within this communication. Promotions may end at any time without notice and at a maximum will not be available for more than 14 days from the date of commencement. Only one promotion can be used per purchase and can not be used in conjunction with any other promotions. Prices and other values and information may change at any time without notice. For any government grants, concessions, programs, taxes, levies or duties, please refer to the relevant government websites for further information. The information contained herein is given for general information purposes only and it is subject to change. Readers, viewers and consumers are advised to perform their own research and investigations and obtain their own financial, legal and other advice. 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