First Home Buyer Grants & Schemes in Australia: What You Need to Know in 2025
Buying your first home is an exciting milestone, but let’s face it—rising property prices and loan requirements can make it feel overwhelming. The good news? The Australian government offers several grants and schemes to help first-home buyers get into the market faster.
If you’re looking to buy your first home in 2025, here’s everything you need to know about the latest grants, incentives, and programs that can save you thousands.
1. First Home Owner Grant (FHOG) – Get a Boost Towards Your Deposit
The First Home Owner Grant (FHOG) is a one-time payment designed to help first-time buyers purchase a new home. While the amount varies by state and territory, it typically ranges between $10,000 and $30,000.
Eligibility Criteria:
✅ Must be purchasing a newly built home, off-the-plan property, or substantially renovated home
✅ Must be an Australian citizen or permanent resident
✅ Must not have previously owned property in Australia
✅ Must live in the home as your principal place of residence for a minimum period (varies by state)
How to Apply:
Each state has its own application process, usually through your state revenue office or lender. Check with your state’s government website for the latest details.
2. First Home Guarantee (Formerly First Home Loan Deposit Scheme – FHLDS)
Saving a 20% deposit is one of the biggest hurdles for first-home buyers. With the First Home Guarantee, eligible buyers can purchase a home with as little as 5% deposit without paying costly Lenders Mortgage Insurance (LMI).
Key Benefits:
✔️ Buy with only a 5% deposit
✔️ No need to pay LMI, saving you thousands
✔️ Available for new and existing homes
Eligibility Requirements:
- Must be a first-home buyer
- Income caps apply ($125,000 for individuals, $200,000 for couples)
- Property price caps vary by state and region
3. First Home Super Saver Scheme (FHSSS) – Save on Tax While Saving for a Home
The First Home Super Saver Scheme (FHSSS) allows you to use your superannuation fund to save for your first home. You can withdraw up to $50,000 in voluntary contributions (plus earnings) to put towards your home deposit.
Why It’s a Game-Changer:
✅ Save faster by making pre-tax super contributions
✅ Withdraw funds for your first home deposit
✅ Potentially reduce your taxable income while saving
4. Stamp Duty Concessions & Exemptions
Stamp duty is a significant cost when buying a home, but many states offer discounts or full exemptions for first-home buyers.
Examples by State:
- Victoria: No stamp duty for properties under $600,000; discounts up to $750,000.
- NSW: No stamp duty for homes up to $800,000, with discounts up to $1 million.
- Queensland: Concessions for homes under $550,000.
- WA, SA, and Tasmania have various reductions—check state-specific rules.
5. Shared Equity Schemes – Buy with Less, Own More Over Time
Some states offer shared equity schemes, where the government helps fund part of your home purchase in exchange for a share in ownership. This allows buyers to enter the market sooner without needing a massive deposit.
How It Works:
- The government co-buys a percentage of the property with you
- You repay their share over time or when selling the property
- Available in states like Victoria (Homebuyer Fund) and WA (Keystart Shared Ownership Scheme)
Final Thoughts: Take Advantage of These First-Home Buyer Perks
Buying your first home in Australia can feel daunting, but with the right grants and schemes, you can significantly reduce your upfront costs and make homeownership more achievable.
💡 Pro Tip: These programs often have limited spots, so get in early and check your eligibility to take advantage of these benefits in 2025!
If you’re ready to take the next step, talk to a mortgage expert at Mortiq. We can help you navigate your options and secure the best home loan for your needs.
👉 Get in touch today and let’s make your dream home a reality!