Are you a First Home Buyer looking at buying or building your first home? From day-dreaming about family BBQs on your very own patio, to deciding whether you need two bedrooms or three – it’s an exciting and inspirational time in your life.

At Peet we also understand that there is a lot of information to consider along the way, especially when it comes to securing finance.  We’ve been helping first home buyers secure the keys for their first home for over a century, and we’re here to help you navigate the journey and make sense of the information. 

One of the first things to check is whether you’re eligible to receive the First Home Owner Grant (FHOG). The FHOG is an initiative introduced by the Australian Government to support first home buyers when buying or building a brand-new house.

You can use the FHOG to top-up your deposit, helping you reach your goal of home ownership significantly sooner. 

The FHOG is administered and funded by individual states and territories across Australia. Each individual local government has its own legislation and criteria for the scheme, and grant amounts also vary depending on your location. 

To make life easier, and help you get your hands on those house keys that little bit sooner, Peet has provided a state-by-state guide to eligibility below. You can also read more about the FHOG here. And while you’re researching, you can also check if you’re eligible for the HomeBuilder grant. Introduced by the Federal Government, this grant could give you access to $25,000 to go towards the costs of building a new home up to the value of $750,000. Read more about the HomeBuilder grant on our website and treasury.gov.au/coronavirus/homebuilder.

So, what are you waiting for? Check your state’s eligibility criteria below, and sign-up to our First Home Buyer Toolkit to access a handy factsheet that explains how to apply for the FHOG. 

Then before you know it, you can get back to deliberating the exciting things – butler’s pantry or theatre room?

The FHOG in your state

Please note, this information is correct as of March 2020 but is subject to change. Always check your state’s updated FHOG information, or ask your mortgage expert for any recent changes in your state.

Victoria

Value

$10,000 existing new home/$20,000 new build

Am I eligible?

Your new home must be less than five years old and must be valued at $750,000 or less and be the first sale of the property as a residential premises.

To receive the FHOG, at least one applicant must:

• Occupy the home as their principal place of residence for at least 12 months, commencing within 12 months of settlement or completion of construction
• Be aged 18 or over
• Be an Australian citizen or resident

You won’t be entitled to a FHOG if you have:

• Received a first home owner grant in Australia.
• Owned a home or other residential property in Australia, either jointly or separately, before
  1 July 2000.
• Occupied, for a continuous period of at least six months, a home which either of you owned or part-owned on or after 1 July 2000 in Australia.
  You may still be eligible for the FHOG if you or your spouse/partner purchased a property on or after 1 July 2000 and have not lived there as your home.

You may still be eligible for the FHOG if you or your spouse/partner purchased a property on or after 1 July 2000 and have not lived there as your home.

Reference - www.sro.vic.gov.au/fhogapply

Australian Capital Territory

Value

Am I eligible?

• All buyers of the home or land must be at least 18 years old
• The total gross income of all buyers, including their partners (if any) must not be greater than the income threshold which you can view on the link above. 
• All buyers including their partners (if any) must not have owned property in the last two years
• At least one buyer must live in the home continuously for at least one year, starting within 12 months of settlement or completion of construction.
  
  

New South Wales

Value

Am I eligible?

• You must be an individual, not a company or trust
• Be over 18
• At least one applicant must be an Australian citizen or permanent resident
• You cannot have owned or co-owned a home in Australia
• You cannot have received a first home owner grant in Australia
• You or one of the other first home buyers must move into the home within 12 months after buying the property and live there for at least six continuous months
• If you are purchasing a recently renovated house, you could be eligible if:
• Most of the house was removed or replaced
• This is the first time the house has been sold after the renovations
• It hasn’t been lived in since being renovated, including by the builder or a tenant

Queensland

Value

Am I eligible?

• Be at least 18 years old
• Be an Australian citizen or permanent resident (or be applying with someone who is)
• You or the person you are applying with cannot have owned property in Australia that you previously lived in
• Be building a brand-new home or buying one
• The total value of the home, including the land must be less than $750,000
• You must move into the new home as your primary place of residence within 12 months of the completed transaction and live there continuously for 6 months

Reference - www.qld.gov.au/housing/buying-owning-home/financial-help-concessions/qld-first-home-grant/apply-first-home-grant

South Australia

Value

Am I eligible?

• The market value of the property must not exceed $575,000
• You or your co-owner must not have already received a First Home Owners’ Grant
• Is a natural person (not a company) who is at least 18 years old and who upon completion of the transaction, will own the property in their own right and not in any capacity as a trustee
• Neither applicant can have owned a residential property jointly, separately, or with some other person before 1 July 2000 in any state or territory in Australia
• Neither applicant has occupied a residential property for a continuous period of at least six months in which they acquired a relevant interest, either jointly, separately or with some other person on or after 1 July 2000 in any state or territory in Australia
• At least one applicant is a permanent resident or citizen of Australia
• Each applicant must occupy the home as their principal place of residence for a continuous period of at least six months commencing within twelve months of completion of the eligible transaction.

Western Australia

Value

Am I eligible?

• An applicant must be a person (not a company) and be 18 years or over at the time of making an application. If you are under 18, you may be able to apply for an exemption from the age requirement.
• At least one applicant must be an Australian citizen or permanent resident at the time of making the application
• Applicants must occupy the home as their principal place of residence for a continuous period of at least six months commencing within 12 months of settlement if purchasing a home, or within 12 months from the date of completion if building a home
• Applicants must hold a relevant interest (ownership) in the land on which the home is situated and must own the home in their own capacity. If they own the home as a trustee, it must be held on trust for a person with a legal disability

You won’t be entitled to a FHOG if you:

• Previously received the grant or first home owner rate of duty from any jurisdiction in Australia
• Owned residential property anywhere in Australia before 1 July 2000
• Owned residential property anywhere in Australia on or after 1 July 2000 and occupied that property as a place of residence before 1 July 2004
• Owned residential property anywhere in Australia on or after 1 July 2000 and occupied that property as a place of residence for a continuous period of at least six months that began on or after 1 July 2004

Tasmania

Value

Am I eligible?

• Be at least 18 years of age
• Be a natural person (not a company)
• Be an Australian citizen or permanent resident
• Not have owned a home (or have a spouse who owned a home) in Australia before 1 July 2000;
• Not have owned and occupied (or have a spouse who owned and occupied) for more than six months, a home in Australia after 1 July 2000
• If building your home or having your home built, occupy the home as your principal place of residence for a continuous period of at least six months commencing within 12 months of the date the occupancy certificate is issued for the property;
• If purchasing your new home, occupy the home as your principal place of residence for a continuous period of at least six months commencing within 12 months of settlement
• Not have received the First Home Owners’ Grant before

Reference - www.sro.tas.gov.au/first-home-owner

Northern Territory

Value

Am I eligible?

• Have at least one applicant commence occupation of the home as their principle place of residence for a continuous period of no less than six months within 12 months of the completion date of the eligible transaction.
• Not have accessed a First Home Owner Grant in any state or territory in Australia.
• No applicant can have owned or held a relevant interest in a residential property, either jointly, separately or with some other person before 1 July 2000.
• No applicant can have occupied a residential property that they acquired, either jointly, separately or with some other person before 1 July 2000.
• Is a natural person (not a company) who will hold all their interest in the property in their own right and not as a trustee.
• At least one applicant must be an Australian citizen or a permanent resident of Australia.
  
   

Reference - nt.gov.au/property/home-owner-assistance/first-home-owners/first-home-owner-grant