VIC first-home grants + stamp duty concessions, in plain English

What it is

A single lump-sum payment made after settlement (or after construction completion for owner-builders). It's paid on top of any stamp duty concession you might qualify for.

Who it's for

• People buying or building their first home in Australia.
• The home must be brand-new, not previously sold, occupied, leased or short-let.
• At least one applicant must live in the home as their principal residence for a continuous 12-month period, starting within 12 months of settlement or construction completion.

What it's not for

• Established / existing homes (unless substantially renovated by the seller and never before occupied).
• Investment properties.
• Anyone who has previously received the FHOG anywhere in Australia.

What it is

Applied automatically by your conveyancer at settlement, you don't apply separately. It reduces the amount of stamp duty you pay on the transfer of your first home in Victoria. Amounts and thresholds are set by the State Revenue Office and reviewed regularly.

Who it's for

• First-time homeowners in Australia (natural persons only).
• The home must be your principal place of residence, lived in for 12 continuous months within the first year of settlement.
• A separate temporary off-the-plan duty concession is also available for strata apartments and townhouses, no first-home restriction and no PPR requirement while it runs.

What it's not for

• Investors (except for the temporary off-the-plan concession).
• People who have previously owned residential property in Australia.

What it is

Not a grant and not a loan - a co-ownership arrangement. The Victorian Government takes an equity share in your home (25% for most buyers, 35% for Aboriginal / Torres Strait Islander buyers) and you own the rest. You pay the government back their share (plus their proportion of any capital gain) when you sell, refinance out, or otherwise choose to buy them out. No interest and no rent while the government is a co-owner.

Who it's for

• Buyers with at least a 5% deposit saved (most banks + credit unions supporting the scheme).
• Annual gross income under specific caps (check homebuyerfund.vic.gov.au for current thresholds).
• Buying a principal place of residence in Victoria under the applicable price cap for your region.
• Australian citizens or permanent residents.

What it's not for

• Investors or buyers not intending to live in the property as their principal residence.
• Buyers already owning residential property (in Australia or overseas).
• Purchases above the current price cap for your location.