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Maximising Government Grants. A First-Time Home Buyer's Guide to FHOG and Stamp Duty Exemptions.
Norus Blog : Aug 8, 2025 3:30:00 PM

As you embark on the journey of purchasing your first home, it's crucial to understand the array of government grants and incentives available to assist you in this significant milestone. In this guide, we will delve into two key components: the First Home Owner Grant (FHOG) and stamp duty exemptions. Specifically tailored for those considering buying off-the-plan apartments, let's navigate through the eligibility criteria and benefits of these schemes.
First Home Owner Grant (FHOG)
If you're purchasing or constructing a new home valued at up to $750,000, you may qualify for the FHOG, offering a substantial $10,000 boost. However, to be eligible, the property must not have been previously sold or occupied, aligning with the fresh start of purchasing a new off-the-plan home.
Stamp Duty Exemptions and Concessions
Stamp duty, also known as land transfer duty, is a significant financial consideration in property transactions. However, various exemptions and concessions exist to alleviate this burden for eligible buyers. In Victoria, these include:
- First-Home Buyer Duty Exemption or Concession:
Eligibility: Buyers must meet the following criteria:
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- Property value: Properties valued up to $750,000.
- Intention to reside: Buyers should intend to live in the property as their primary residence.
- Residency status: Australian citizenship or permanent residency is typically required.
- Previous ownership: There may be restrictions if the buyer or their spouse/partner have received FHOG previously or owned residential property before specified dates.
- Additional exemption for FHBs: Eligible first home buyers can benefit from a waiver of stamp duty for properties below $600,000, subject to specific criteria such as residency status and intention to live in the property as their primary residence.
- Off-the-Plan Concession:
Eligibility: This concession is tailored for off-the-plan properties, including land and building packages or refurbished lots. Specific criteria may apply, and buyers should inquire with relevant authorities or agencies for detailed eligibility requirements.
- Pensioner Concession:
Eligibility: Eligible pensioners purchasing new or established homes may receive exemptions or concessions. Criteria may include:- Income and asset thresholds.
- Property value limits.
- Residency requirements.
- Principal Place of Residence (PPR) Concession:
Eligibility: This concession provides duty concessions for properties intended as the primary residence. Key criteria may include:- Property value: Properties valued up to $550,000.
- Residency: Buyers must intend to use the property as their primary residence.
- Citizenship or residency status: Australian citizenship or permanent residency may be required.
It's important to note that eligibility criteria can vary based on factors such as property value, residency status and previous ownership history. Prospective buyers should thoroughly review the specific requirements for each concession or exemption they intend to apply for and seek guidance from relevant authorities or professional advisors if needed.
Understanding and meeting the eligibility criteria are essential steps in maximising government grants and incentives, such as the FHOG and stamp duty exemptions, and achieving your goals as a first-time homebuyer. By ensuring compliance with these criteria, buyers can navigate the complexities of property transactions more effectively and leverage available benefits to their advantage.
Applying for FHOG and Stamp Duty Benefits
In most cases, your financial institution will handle the FHOG application process. However, if needed, you can apply online, ensuring all eligibility criteria are met. Similarly, stamp duty benefits are accessible through specific application procedures, with varying requirements based on contract dates and property types.
Additional Considerations
When purchasing off the plan, it's essential to factor in the unique aspects of your transaction. Off-the-plan concessions, residency requirements and obligations as a first-time buyer must be thoroughly understood to maximise the benefits available to you.
Navigating the intricacies of government grants and incentives can significantly impact your journey as a first-time home buyer. By leveraging schemes like the FHOG and stamp duty exemptions, you can alleviate financial burdens and transition smoothly into homeownership. Remember, thorough research and adherence to eligibility criteria are key to maximising these benefits and achieving your homeownership goals.
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