First Home Buyers Grant

First Home Buyers Grant Victoria

In Victoria first home buyers who qualify for the First Home Owner Grant may be eligible for an additional payment. This additional payment is called the First Home Bonus. To be eligible to receive the Bonus payment, the value of the property must not exceed $500,000.

First Home Bonus and First Home Buyers Grant Applications

Get your local mortgage broker to help you find out how much you are entitled to under the first home bonus, determine your eligibilty for the first home buyer's grants and even help you complete your applications. Simply email us the form on this page or call at any time on 13 XINC or direct on +61 2 9249 3739 and we will contact you within 2 business hours.

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How much is the First Home Bonus?

Victoria Stamp Duty Exemptions and Concessions

First Home Buyer with Family exemption or concession from duty and First Home Bonus

You may be eligible for the first home owner with family exemption or concession if you entered into a contract between 1 January 2006 and 1 July 2009. Under these circumstances, you have the option to receive either the First Home Bonus or the transfer stamp duty exemptions or concessions. You cannot pick both. Depending on the value of your home, the first home owner with family exemption or concessions may be worth more than the bonus. To find out which options is worth more to you, talk to your local mortgage broker.

Principal place of residence concession and the First Home Bonus

You are entitled to both the duty concession for a principle place of residence and the first home bonus if you entered into a contract on or after 6 May 2008.

However, if the contract date was between 1 January 2007 to 5 May 2008, you must choose between the First Home Bonus and the transfer stamp duty concession. Under these circumstances, the bonus is worth more than the maximum transfer duty saving (which is $2850).

State Revenue Office Victoria

The State Revenue Office of Victoria fully funds and administers the first home boyers grant and VIC first home buyer concessions, they can be contacted on (03) 9628 6777.

specific first home buyers Information

For more information specific to first home buyers, visit these pages:

• Fees, Charges and Loans information
• How much can I borrow?
• Deposit - what is the minimum I need to buy a house?
• Legal processes, inspections and checks
• Finance & Home Loans Tips
• Honeymoon rates - are they good value?

First Home Buyers | ACT | New South Wales | Victoria | Queensland | Western Australia | Northern Territory | Tasmania | South Australia