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Overview
If you are a first home owner you may be entitled to receive one or more of the following:
- First Home Owner Grant (the Grant),
- First Home Bonus (the Bonus),
- First Home Owner Boost (the Boost) (for contracts entered into on or after 14 October 2008 and before 1 January 2010).
- A regional bonus
First Home Owner Grant
The First Home Owner Grant provides eligible first home buyers with a $7000 grant. 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 Bonus
1 July 2010 to 30 June 2011 (contract date)
If you are eligible to receive the Grant, you may also be entitled to receive an additional payment of $13,000 (for new homes only), known as the First Home Bonus (the Bonus).
To be eligible to receive the Bonus, the purchase price of the property must not exceed $600,000.
1 July 2009 to 30 June 2010 (contract date)
If you are eligible to receive the Grant, you may also be entitled to receive an additional payment of $2,000 (for established homes) or $11,000 (for new homes only).
To be eligible to receive the Bonus, the purchase price of the property must not exceed $600,000.
1 January 2007 to 30 June 2009 (contract date)
If you are eligible to receive the Grant, you may also be entitled to receive an additional payment of $3,000 (for established homes) or $5,000 (for new homes only).
To be eligible to receive the Bonus, the purchase price of the property must not exceed $500,000.
Regional Bonus
1 July 2010 to 30 June 2011 (contract date)
For contracts entered into for the purchase or construction of a new home in a regional municipality in Victoria, an additional $6,500 regional bonus is also available (in addition to the $13,000 bonus).
1 July 2009 to 30 June 2010 (contract date)
For contracts entered into for the purchase or construction of a new home in a regional municipality in Victoria, an additional $4500 regional bonus is also available (in addition to the $11,000 bonus).
6 May 2008 to 30 June 2009 (contract date)
For contracts entered into for the purchase or construction of a new home in a regional municipality in Victoria, an additional $3000 regional bonus is also available (in addition to the $5000 bonus).
First Home Owner Boost
Please Note: The First Home Owner Boost ceased to apply for contracts entered into on or after 1 January 2010.
The First Home Owner Boost, which was launched by the Australian Government, supplements the Victorian Government funded First Home Owner Grant of $7000. The Boost provides:
1 October 2009 to 31 December 2009 (contract date)
- an extra $3500 to first home buyers who purchase an established home; and
- an extra $7000 to first home buyers who build a new home or purchase a newly constructed home.
14 October 2008 to 30 September 2009 (contract date)
- an extra $7000 to first home buyers who purchase an established home; and
- an extra $14,000 to first home buyers who build a new home or purchase a newly constructed home.
The tables below set out the different amounts that first home buyers in Victoria may be eligible for:
The information in these tables is to be used as a guide only.
Contract Date (1 July 2010 - 30 June 2011) |
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|---|---|---|---|---|
| Conditions | First Home Owner Grant (FHOG) | First Home Bonus | First Home Owner Regional Bonus | Total |
| Established homes only | $7,000# | $0.00 | $0.00 | $7,000 |
| Newly constructed homes in Metropolitan Victoria only | $7,000# | $13,000* | $0.00 | $20,000 |
| Newly constructed homes in Regional Victoria only | $7,000# | $13,000* | $6,500* | $26,500 |
| #For contracts entered into after 1 January 2010, to qualify for the Grant, the price of the property or construction of the home must not exceed $750,000. *For contracts entered into between 1 July 2009 to 30 June 2011, to qualify for the Bonus, the value of the property must not exceed $600,000. |
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Contract Date (1 January 2010 - 30 June 2010) |
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|---|---|---|---|---|---|
| Conditions | First Home Owner Grant (FHOG) | First Home Bonus | First Home Owner Regional Bonus | Total | |
| Established homes only | $7,000# | $2,000* | $0.00 | $9,000 | |
| Newly constructed homes in Metropolitan Victoria only | $7,000# | $11,000* | $0.00 | $18,000 | |
| Newly constructed homes in Regional Victoria only | $7,000# | $11,000* | $4,500* | $22,500 | |
| *For contracts entered into between 1 July 2009 to 30 June 2010, the value of the property must not exceed $600,000. #For contracts entered into after 1 January 2010, the price of the property or construction of the home must not exceed $750,000. |
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Contract Date (1 October 2009 - 31 December 2009) |
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|---|---|---|---|---|---|
| Conditions | First Home Owner Grant (FHOG) | New First Home Owner Boost | First Home Bonus | First Home Owner Regional Bonus | Total |
| Established homes only | $7,000 | $3,500 | $2,000* | $0.00 | $12,500 |
| Newly constructed homes in Metropolitan Victoria only | $7,000 | $7,000 | $11,000* | $0.00 | $25,000 |
| Newly constructed homes in Regional Victoria only | $7,000 | $7,000 | $11,000* | $4,500* | $29,500 |
| *For contracts entered into between 1 July 2009 to 30 June 2010, the value of the property must not exceed $600,000. | |||||
Contract Date (1 July 2009 - 30 September 2009) |
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|---|---|---|---|---|---|
| Conditions | First Home Owner Grant (FHOG) | New First Home Owner Boost | First Home Bonus | First Home Owner Regional Bonus | Total |
| Established homes only | $7,000 | $7,000 | $2,000* | $0.00 | $16,000 |
| Newly constructed homes in Metropolitan Victoria only | $7,000 | $14,000 | $11,000* | $0.00 | $32,000 |
| Newly constructed homes in Regional Victoria only | $7,000 | $14,000 | $11,000* | $4,500* | $36,500 |
| *For contracts entered into between 1 July 2009 to 30 June 2010, the value of the property must not exceed $600,000. | |||||
Contract Date (14 October 2008 - 30 June 2009) |
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|---|---|---|---|---|---|
| Conditions | First Home Owner Grant (FHOG) | New First Home Owner Boost | First Home Bonus | First Home Owner Regional Bonus | Total |
| Established homes only | $7,000 | $7,000 | $3,000# | $0.00 | $17,000 |
| Newly constructed homes in Metropolitan Victoria only | $7,000 | $14,000 | $5,000# | $0.00 | $26,000 |
| Newly constructed homes in Regional Victoria only | $7,000 | $14,000 | $5,000# | $3,000# | $29,000 |
| #For contracts entered into up to 30 June 2009, the value of the property must not exceed $500,000 | |||||
Contract Date (6 May 2008 - 13 October 2008) |
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|---|---|---|---|---|---|
| Conditions | First Home Owner Grant (FHOG) | First Home Bonus | First Home Owner Regional Bonus | Total | |
| Established homes only | $7,000 | $3,000# | $0.00 | $10,000 | |
| New homes in Metropolitan Victoria only | $7,000 | $5,000# | $0.00 | $12,000 | |
| New homes in Regional Victoria only | $7,000 | $5,000# | $3,000# | $15,000 | |
| #For contracts entered into up to 30 June 2009, the value of the property must not exceed $500,000 | |||||
Contract Date (1 January 2007 - 5 May 2008) |
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|---|---|---|---|---|
| Conditions | First Home Owner Grant (FHOG) | First Home Bonus | First Home Owner Regional Bonus | Total |
| Established homes only | $7,000 | $3,000# | $0.00 | $10,000 |
| New homes only | $7,000 | $5,000# | $0.00 | $12,000 |
| #For contracts entered into up to 30 June 2009, the value of the property must not exceed $500,000 | ||||