The First Home Buyers Grant was introduced in 2000 by the Australian Government to offset the impact of the GST when you build or buy a home.
It’s a one-off payment which isn’t means tested, so it’s available to anyone. The amount you can receive and the eligibility criteria vary depending on which state you’re buying in.
Common Criteria across the states and territories that you’ll need to meet to receive the grant are:
- Australian citizenship or permanent residency
- Haven’t previously received the grant.
- You meet the minimum age set by your state.
- You’re purchasing the property as an individual (not a company or trust)
- You will live in the residence for a minimum time period (at least 6 months) set by your state or territory.
- You apply for the grant within 12 months of the settlement date.
- The property value is below the maximum purchase price set by your state or territory.
- If the contract is signed after 3 October 2015, you are purchasing a ‘new’ home, not an established property.
- There’s been a strong move across the states to finance new builds only, not for the purchase of established homes. If you build or buy in a regional area, there may be other benefits or concessions available.
- For detailed information on what is available in each state, find your location below: