Buying your first home is the largest financial decision for most people. It’s a complex process, with many steps, needing to be completed in the right sequence.
For most, a first home buyer loan is the start of their property journey. People often don’t know what’s involved, particularly if you plan to turn your first home into an investment later.
We’re here to explain the process to you in as much detail as you need. Don’t worry if you ask the same question multiple times, it’s how we all learn.
We work with you to take the stress out of the buying process, with your best interest at heart. Rather than worrying about which lender to go with, you can focus on your furniture and homeware choices.
This page is frequently updated, so bookmark it and check back often. Government schemes can change often, particularly on July 1 (new financial year) or after state and federal elections.
Last updated 12/10/2025.
The First Home Owner Grant was introduced on 1 July 2000 to offset the effect of the GST on home ownership. The scheme runs nationally and is funded and administered by the states and territories. Grant amounts and qualification criteria vary across states, see below for details.
States and territories also provide stamp duty exemptions and concessions for first home buyers. The two benefits are often bundled as one, but are separate.
These benefits can save you tens of thousands of dollars, so it’s well worth knowing what’s available.
For many first home buyers, this can be the difference between being able to buy a home or not. Inclusions and eligibility varies by state, and are subject to change.
FHOG: $10,000
Eligible Property Value
Newly built: $600,000
Land + Build: $750,000
Substantially Renovated: $600,000
Existing: Ineligible
Stamp Duty Exemption (Property)
No Duty: <$800,000
Partial Duty: >$800,000 – $1,000,000
Full Duty: >$1,000,000
Stamp Duty Exemption (Land Only)
No Duty: <$350,000
Partial Duty: >$350,000 – $450,000
Full Duty: >$450,000
Residency Requirement
12 months, starting within 12m of settlement or occupancy certificate
More Info
For full eligibility requirements, please visit:
NSW FHOG website
NSW Stamp Duty calculator
FHOG: $10,000
Eligible Property Value
Newly built: $750,000
Land + Build: $750,000
Substantially Renovated: Ineligible
Existing: Ineligible
Stamp Duty Exemption (Property)
No Duty: <$600,000
Partial Duty: >$600,000 – $750,000
Full Duty: >$750,000
Stamp Duty Exemption (Land + Build)
No Duty: <$600,000
Partial Duty: >$600,000 – $750,000
Full Duty: >$750,000
Principal Place of Residence (PPR) Concession
You may be entitled to a concession from duty when buying a property that you intend to live in as your home for a continuous period of 12 months, within 12 months after settlement. This concession is available to all home buyers (not just first home owners).
Full Duty: <$130,000
1% Discount: $130,000 – $440,000
$3,100 Discount: $440,000 – $550,000
Full Duty: >$550,000
Residency Requirement
12 months, starting within 12m of settlement or occupancy certificate
More Info
For full eligibility requirements, please visit:
Victorian FHOG website
Victorian Land Transfer (Stamp) Duty calculator
FHOG: $30,000
The double grant applies for contracts signed up to 30/06/2026 (inclusive). For owner builder, foundations must be laid by 30/06/2026.
Eligible Property Value
Newly built: $750,000
Land + Build: $750,000
Substantially Renovated: $750,000
Existing: Ineligible
Stamp Duty Exemption (Existing Residential Property)
No Duty: <$710,000
Partial Duty: >$710,000 – $800,000
Full Duty: >$800,000
Stamp Duty Exemption (Newly Built Home, Vacant Land or Land + Build)
No Duty: No Price Limit
Residency Requirement
6 months, starting within 12m of settlement or occupancy certificate
More Info
For full eligibility requirements, please visit:
QLD FHOG website
QLD Transfer Duty calculator
FHOG: $15,000
Eligible Property Value
Newly built: No Limit
Land + Build: No Limit
Substantially Renovated: No Limit
Existing: Ineligible
Stamp Duty Exemption (Property)
No Duty: No Limit all new properties
Full Duty: all existing properties
Stamp Duty Exemption (Land only)
No Duty: No Limit
Residency Requirement
6 months, starting within 12m of settlement or occupancy certificate
More Info
For full eligibility requirements, please visit:
SA FHOG website
SA Stamp Duty calculator
FHOG: none
Eligible Property Value
All properties: There is currently no FHOG in the ACT.
Stamp Duty Exemption (Property)
See qualifying income thresholds below
No Duty: <$1,020,000
Partial Duty: >$1,020,000 – $1,455,000
Capped Benefit: >$1,455,000 – No upper price limit, but discount is capped at $35,238
Stamp Duty Exemption (Land + Build)
See qualifying income thresholds below
No Duty: <$1,020,000
Partial Duty: >$1,020,000 – $1,455,000
Capped Benefit: >$1,455,000 – No upper price limit, but discount is capped at $35,238
Income Thresholds
To be eligible to pay no duty, the total gross income of all home buyers and their partners (if any) over the full financial year before the transaction date must be less than or equal to the thresholds below. Your partner’s income must be included, even if they won’t be an owner of the home.
Residency Requirement
12 months, starting within 12m of settlement or occupancy certificate
More Info
For full eligibility requirements, please visit:
ACT Home buyer concession scheme website
ACT Conveyance Duty calculator
FHOG: $10,000
Eligible Property Value
Newly built: No Limit
Land + Build: No Limit
Substantially Renovated: Ineligible
Existing: Ineligible
Stamp Duty Exemption (Property)
No Duty: existing properties <$750,000
50% Duty: off the plan units <$750,000 (no occupancy permit granted at the time of contract exchange)
Full Duty: all newly built or land + build
Stamp Duty Exemption (Land only)
Full Duty: all vacant land
Residency Requirement
6 months, starting within 12m of settlement or occupancy certificate
More Info
For full eligibility requirements, please visit:
Tas FHOG website
Tas Property Transfer Duty calculator
FHOG: $10,000
HBAA: $2,000
FHOG Eligible Property Value
The 26th parallel of south latitude divides WA. It begins at Shark Bay on the coast and becomes the border between South Australia and the Northern Territory.
Newly built, Land + Build – South of the 26th parallel: $750,000
Newly built, Land + Build – North of the 26th parallel: $1,000,000
Substantially Renovated: Eligible, same limits as new
Existing: Ineligible
HBAA Eligible Property Value
The Home Buyers Assistance Account (HBAA) reimburses some of the incidental expenses incurred when purchasing a first home in Western Australia, provided the applicants meet all criteria. Eligible applicants receive a grant of up to $2,000. This can be in addition to the FHOG.
Incidental expenses can include mortgage registration fees, solicitor and/or conveyancing fees, valuation fees, inspection fees, establishment fees, mortgage insurance premiums and lending institution fees associated with the purchase of your first home.
Newly built, existing, partially built: $500,000
Land + Build: Ineligible
Stamp Duty Exemption (Property)
No Duty: <$500,000
Partial Duty (Perth & Peel regions): >$500,000 – $700,000
Partial Duty (Rest of WA): >$500,000 – $750,000
Full Duty (Perth & Peel regions): >$700,000
Full Duty (Rest of WA): >$750,000
Stamp Duty Exemption (Land Only)
No Duty: <$350,000
Partial Duty: >$350,000 – $450,000
Full Duty: >$450,000
FHOG Residency Requirement
6 months, starting within 12m of settlement or occupancy certificate
HBAA Residency Requirement
12 months, starting within 12m of settlement or occupancy certificate
More Info
For full eligibility requirements, please visit:
WA FHOG website
WA HBBA website
WA Transfer Duty calculator
The HomeGrown Territory Grant (FHOG)
Applies to contracts signed between 1 October 2024 and 30 September 2026.
New Properties: $50,000 Grant
Newly built: No Value Limit
Land + Build: No Value Limit
Transportable home: No Value Limit (must be legally approved and permanently fixed to site)
Existing Properties: $10,000 Grant
Substantially Renovated: No Value Limit
Existing: No Value Limit
FreshStart New Home: $30,000 Grant
This grant applies to existing home owners, whether in the NT or elsewhere in Australia. Applies to contracts signed between 1 October 2024 and 30 September 2026
Newly built: No Value Limit
Land + Build: No Value Limit
Transportable home: No Value Limit (must be legally approved and permanently fixed to site)
Stamp Duty Exemption (Property)
No Duty: House & land package from a building contractor, where the land was originally bought from a developer and had stamp duty paid on the dutiable value of the land. No value limit, not means tested. Applicable for contract signed between 1 July 2022 and 30 June 2027.
Full Duty: all other properties and vacant land, except qualifying house & land packages above
Stamp Duty Exemption (Land only)
Full Duty: all vacant land
Residency Requirement
12 months, starting within 12m of settlement or occupancy certificate
More Info
For full eligibility requirements, please visit:
NT FHOG website
NT Stamp Duty calculator
The 5% Deposit Scheme is a Federal Government initiative supporting eligible home buyers to own a home sooner. Needing only 2% – 5% deposit with no LMI required, means home ownership could be within reach sooner than you think.
The following sections summarise the eligibility criteria and inclusions. The scheme is available nationwide, subject to property price caps displayed below.
The Scheme includes two types of Guarantees:
| State/Territory | Capital City, Regional Centre* | Rest of State |
|---|---|---|
| NSW | $1,500,000 | $800,000 |
| VIC | $950,000 | $650,000 |
| QLD | $1,000,000 | $700,000 |
| WA | $850,000 | $600,000 |
| SA | $900,000 | $500,000 |
| TAS | $700,000 | $550,000 |
| ACT^ | $1,000,000 | |
| NT | $600,000 | $600,000 |
| Jervis Bay Territory, Norfolk Island | $550,000 | |
| Christmas Island, Cocos (Keeling) Islands | $400,000 |
* Regional centres are Newcastle and Lake Macquarie, Illawarra, Geelong, Gold Coast and Sunshine Coast.
^ The entire ACT is covered by a single price cap.
Visit the Housing Australia Postcode Search Tool to confirm the applicable cap before purchasing.
Places FY25-26: No limit from October 1, 2025
Minimum Deposit: 5%
Maximum Guarantee: 15%
Location: Anywhere in Australia
Property Type
New home
Existing home
House & land package
Off the plan
Land + building contract
Vacant land only
Eligibility Qualification
Australian citizen or PR
New Zealand citizen
First home buyers
Prior homeowners who haven’t owned a property in Australia in the past 10 years
Maximum Income
From October 1, 2025 there are no income caps for the Australian government 5% Deposit Scheme.
Single or 2 Joint Applicants: No income cap
Residency Requirement
Property must be owner occupied with a principal and interest loan up to 30 years.
More Info
For full eligibility requirements, please visit:
5% Deposit Scheme website
This scheme has been replaced by the expanded 5% Deposit Scheme with no income caps or limits on place, covering nationwide. This section is for information only for contracts entered into before 01/10/2025.
Places FY25-26: 10,000
Minimum Deposit: 5%
Maximum Guarantee: 15%
Location: Regional area, regional centre, check your postcode
Property Type
New home
Existing home
House & land package
Off the plan
Land + building contract
Vacant land only
Eligibility Qualification
Australian citizen or PR
New Zealand citizen
First home buyers
Prior homeowners who haven’t owned a property in Australia in the past 10 years
Maximum Income
As shown on the ATO Notice of Assessment for the prior financial year before contract is signed. Joint applicants may include partners, friends, siblings, and family members.
Single Applicant: $125,000
2 Joint Applicants: $200,000
Residency Requirement
Property must be owner occupied
Must have lived in the regional area or adjacent regional area they are purchasing in for the preceding 12-month period. Employees who have been required to relocate for work may be exempt from this requirement.
More Info
For full eligibility requirements, please visit:
Regional First Home Buyer Guarantee website
Housing Australia – Home Guarantee Scheme overview
Places FY25-26: no limit, no waiting lists
Minimum Deposit: 2%
Maximum Guarantee: 18%
Location: Anywhere in Australia
Property Type
New home
Existing home
House & land package
Off the plan
Land + building contract
Vacant land only
Eligibility Qualification
Australian citizen or PR
New Zealand citizen
Single parent or single legal guardian of at least one dependent
Separated but not divorced (divorce must be finalised for eligibility)
Foster carer (court issued guardianship order required)
Not currently owning property, not intending to own a another property after settlement
Maximum Income
No income caps apply – must be a single parent.
Single Applicant: no income cap
Joint Applicants: not eligible
Residency Requirement
Property must be owner occupied
More Info
For full eligibility requirements, please visit:
Family Home Guarantee website
Get in touch to get your budget. You might be able to buy much sooner than you thought!
This is one of the first questions asked by first home buyers, and indeed most buyers! It’s a great question and a very important one. In its simplest form, your borrowing capacity is influenced by your income and expenses.
If you’ve visited any bank websites, you’ll see they all have borrowing calculators, unfortunately they’re rarely accurate. These calculators are very high level and don’t capture the full detail of your unique circumstances. This is where a professional mortgage broker like Feather Loans can help.
We have access to all the official lender calculators and can determine your true borrowing capacity. The last thing you want is wasting time and getting your hopes up looking at properties out of your budget.
If you haven’t already, send us a summary of your circumstances. We’ll be in touch very soon to start the conversation.
After calculating your borrowing capacity, we can advise your total budget. This is determined by several factors:
Depending on your state and purchase price, you may also need to pay partial or full stamp duty. We can advise you on this, after reviewing your numbers and determining your target price range.
With your budget in hand, you’ll now have a clear idea of what type of property you can buy.
Depending if your budget meets your expectations, you have several options:
Now’s the time to book your strategy session. Don’t delay and watch the market keep increasing without being in it.
During your strategy session, we’ll discuss the pro’s and con’s of each option, helping you decide the best way forward.
Sharing some common words of wisdom from when we were first home buyers. These worthwhile points, which were easy to dismiss at the time, proved to be valuable advice.
If you’re buying a unit or townhouse, always ask how much the quarterly strata levies are. It’s easy to fall in love with that gorgeous resort style apartment, with pool, gym, spa and sauna.
But, is the convenience worth paying $12,000+ per year? You might find that a couple of weeks in Fiji or Bali each year costs far less. High strata will also limit your borrowing capacity.
Your first home is unlikely to be your last. It’s easy to end up with a growing wishlist as you browse listings and attend open homes. Prioritise what’s most important, then add the “nice to haves” if budget permits.
Focus on prioritising what can’t easily be changed, such as orientation, layout, room sizes and location. North facing rooms will have more natural light and catch the winter sun, while avoiding the hot summer sun.
Your home will be more energy efficient and require less heating and cooling. Painting a room can be a straightforward DIY job, moving a wall isn’t.
This can be a tough one. It’s easy to dream of renovating a kitchen, bathroom or removing a wall to make a large open plan living. Before making major changes, resist the temptation in your first year. Things you hated, you may suddenly like, or you’ll discover more affordable alternatives.
After 12 months your priorities may have changed. You might be relocating for work, wanting to buy an investment property or planning to upsize. A year later, if you still want to undertake that major reno, then you know you aren’t making an impulse decision.
Your alarm goes off, it’s cold and dreary outside, it’s all too tempting to hit snooze and skip this weekend. These are actually the best days to be out there.
Agents will show a home during its best light, seeing it at its worst tells the true story. It’s also a good opportunity to check for water leaks in places that shouldn’t be wet. Plus you’ll likely have less competition with others taking the day off.
It’s also important to inspect a property multiple times, on different days and times. You’ll get a sense of how natural light, traffic and neighbours may impact your new home. Remember, if you’re having doubts, chances are when you go to sell, so will your buyers.
It’s rare to find someone who can easily borrow enough to buy the home of their dreams. To boost your savings, you may need to cut back on going out, shopping and other luxuries.
After settlement, you’ll get into a routine of paying your mortgage and over time your salary will increase. It’s important to balance the little pleasures in life with your big goals.
Unsure where to start? Reach out and we can help determine your budget. We’ll explore how to reach your goals without living on instant noodles and canned tuna for too long.
There are no silly questions when it comes to your future. We're here to help, there's no cost or obligation 😊
Resources
