First Home Buyer

 

First home buyer benefits are only available on newly built homes only, benefits vary in each state:

First Home – New Home scheme

NSW

 The First Home – New Home scheme commenced from 1 January 2012 and provides eligible purchasers with exemptions from transfer duty on new homes valued up to $550,000 and concessions for new homes valued between $550,000 and $650,000.

Eligible purchaser buying a vacant block of residential land to build their home will pay no duty on vacant land valued up to $350,000, and will receive concessions for vacant land valued between $350,000 and $450, 000.

First home buyers grant

QLD

The $15,000 Great Start Grant is available for first home buyers who are buying or building a brand new home as their first home from 12 September 2012. Visit the Great Start Grant website for more information.
First Home Owner Grant

VIC

For contracts entered into on or after 1 July 2013, eligibility for the Grant will be limited to buyers of new homes.

For contracts entered into on or after 1 July 2013 to build or purchase a new home, a payment of up to $10,000 is available for eligible first home buyers. For contracts entered into prior to 1 July 2013, a payment of up to $7000 is payable to eligible first home buyers. This grant is not means-tested nor is it restricted by the price of the property for contracts entered into prior to 1 January 2010.

For contracts entered into on or after 1 January 2010, the grant will only be payable where the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.

First Home Owner Grant (FHOG)

WA

The changes announced in the 2013-14 State Budget to increase the First Home Owner Grant from $7,000 to $10,000 for first home buyers purchasing or building a new home and to provide a $3,000 grant for those purchasing an established home commence operation from 25 September 2013.This means that on or after this date, first home buyers signing a contract to build or purchase a new home and owner builders that commence laying foundations for the construction of a home will be eligible for the increased grant of $10,000. First home buyers signing a contract to purchase an established home on or after this date will be eligible for a $3,000 grant.